The Fiscal Year in Review
on Monday, July 18, 2016
The end of regular session in May brought the passage of this unbalanced budget, one that was largely vetoed by the Governor, setting the state up for a year of very public funding crises in every area from lottery winners to state universities. Stopgap budget plans for higher education and human services provided temporary funding, but were by no means solutions to the ever present fiscal problem.
At the close of the fiscal year, a stopgap budget agreement was secured which brought necessary funding for education, human services, and many of the state’s biggest needs. Senate Bill 2047 was passed and signed by Governor Rauner on June 30th, authorizing money to flow on July 1st, the first day of the new fiscal year.
With the passage of this budget plan, emergency funding focused on the biggest areas of state spending, including key areas and operations that lacked funding in FY16. Although the plan provided necessary funding, it is not a stable long-term fiscal plan and is not an annual, constitutional balanced budget. Rather, the stopgap FY17 budget was enacted by the Illinois General Assembly as a way of appropriating money to open Illinois K-12 educational institutions on time, provide a full year of funding for K-12 public schools, and keep operations going in other essential State buildings and points of infrastructure.
The budget question is expected to be reopened in the November-December 2016 fall veto session.