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State's Backlog of Bills Could Reach $5-Billion
People who've sold goods or services to the state of Illinois have at least three months to wait for their money, and probably more, since that only includes the time after state agencies give the invoices to the comptroller's office.

Comptroller Dan Hynes says the state is sitting on almost $4-billion worth of unpaid bills, and he says that number could become $5-billion by March. "To call this an imminent crisis is an understatement," he says. School districts, nursing homes, universities, and pension systems are among those affected.

Hynes is calling on lawmakers to change the law to make borrowing easier for him to do.

The Senate Democrats' budget negotiator is not impressed. "It's something we've done in the past, so he didn't come up with any genius thoughts there," says State Senator Donne Trotter (D-Chicago). "It's just - all those things we need to be talking about." Trotter also suggests dipping into the rainy day fund.

(from the Illinois Radio Network)
11 14 08 by Newsroom
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