Watch the Governor’s State of the State address on January 27, at noon, right from your computer.  
 

FY16 Budget

·         University of Illinois: declining State credit levying a cost on taxpayers.  Illinois is ranked 50th of 50 in terms of its financial probity and ability to repay its debts, according to the collective judgment of the three New York-based credit rating firms (Moody’s, Standard & Poor’s, and Fitch Ratings).  Despite this poor rating, Illinois infrastructure needs continue to demand an urgent response and, on January 14, Illinois sold $480 million in new bonded debt backed by tax revenue.  The interest rates demanded by bond buyers reflected the State’s sub-optimal credit rating.  As some of the bonds are denominated with maturity dates as far out as 25 years from now, these interest rates will be paid by Illinois taxpayers for many years. 

It is possible, by comparing Illinois’ credit rating and interest rates with the credit ratings and interest rates enjoyed by higher-rated states, such as Indiana, to estimate the costs of Illinois’ current fiscal situation upon future taxpayers.  The nonpartisan University of Illinois Institute of Government and Public Affairs (IGPA) estimated that Illinois taxpayers will pay an additional $53 million on the January 14 bond sale over and above what would have had been pledged to be paid had the State kept its fiscal house in order.
This coming Monday, January 18 is Martin Luther King Jr. Day. Serve Illinois, the state's Commission on Volunteerism and Community Service, is encouraging Illinoisans to get involved and make a difference by volunteering for an MLK Day project in your local area.

"Life's most persistent and urgent question is: What are you doing for others?" – Martin Luther King, Jr.

Each year, thousands of Illinoisans make the Dr. Martin Luther King Jr. holiday "a day on, not a day off." This year Serve Illinois asks you to join your neighbors in giving back. Below, please find details on service projects that are planned by Serve Illinois partners. You can also search for more projects by visiting www.serve.illinois.gov.

For more information on the day of service, please visit MLKDay.gov.