To those who follow Illinois’ financial situation, it is no secret that the state is beyond tardy on delivering its Comprehensive Annual Financial Report (CAFR). The standard for CAFR timeliness is 180 days after the end of the fiscal year. Illinois’ fiscal year ended almost one year ago on June 30th, 2018.

Factors relating to state economic outlooks also matter for the public purse.

Do Jake and Elwood need to shine their shoes?

We recently updated the assumptions underlying Truth in Accounting’s debt clock. 

… of the day Congress approved the 19^th amendment to the U.S. Constitution, and sent it to the States for ratification.

It's pretty, but it isn't pretty.

What does the future hold for Chicago, Illinois?

Illinois legislature moved to put income tax question on voter ballots in 2020, but ...

Don't worry about your government.

Illinois lawmakers and voters are in the process of amending the state constitution to allow for a progressive income tax. Springfield is looking for more revenue because lawmakers habitually spend more than the state takes in.

Deceptive marketing by lawgivers?

Ominous lessons from recent history across the oceans

The U.S. government just released its annual financial report for fiscal 2018, after a shutdown delay