Kane County Reporter

Every year the Governor’s Office of Management and Budget (GOMB) releases a report to the General Assembly that details economic intentions for the upcoming fiscal year and the next four fiscal years. This year’s report shows that the Fiscal Year 22 budget is balanced, but Rep. Jeff Keicher has some reservations.

Keicher posted on Facebook about the report, which he said takes into account a $1.714 billion upward revenue revision that the GOMB used in the economic and fiscal policy report. He said the budget pays off the remaining municipal liquidity facility debt of $1.045 billion and also pays off inter-fund borrowing liabilities worth $928 million. The budget also requests $150 million in supplemental appropriations, for what Keicher said are “undefined reasons.”

“Shell games with dollars isn’t a good footing for Illinois,” Keicher said.

Other parts of the report that Keicher touched on included that the budget proposes setting aside $300 million for contributions to the Budget Stabilization Fund. He also noted that GOMB has started distributing American Rescue Plan Act (ARPA) funds on non-capital Democrat member projects ("i.e. groups they want to support"), and that the GOMB has triggered a provision that requires them to report on transfers between funds in excess of 4%

Also of note is $10 million in transfers from the Child Care Services into Refugee Social Services and Immigrant Integration Services.

“It’s unclear why these transfers were made, but they could stem from the Afghan refugee crisis that was a result of this summer’s troop withdraw,” Keicher said on Facebook.

According to Statista, as of 2020 Illinois has a total debt of about $63.3 billion. President and CEO of the Illinois Retail Merchants Association Rob Karr said that Illinois’ unemployment fund deficit could increase up to $8 billion, Illinois Policy reported. The report said that Illinois business leaders are worried that two state budgets have been passed without addressing the Unemployment Insurance Trust Fund.