Analysis of Governor Quinn's General Fund Budget Proposal for Fiscal Year 2011
RELEASED:
March 1, 2010
On March 10, 2010, Governor Pat Quinn unveiled his General Fund Budget Proposal for FY2011. This Report provides CTBA's analysis of that budget proposal. As proposed, the FY2011 General Fund is characterized primarily by two features: (i) spending cuts, with approximately $1.8 billion cut from FY2010 funding levels; and (ii) borrowing, with over $10 billion ($4.7 billion in direct borrowing from banks and approximately $5.7 billion in indirect borrowing from service providers in the form of payment deferrals) in debt being used to fund $24.5 billion in current year spending.
