Comptroller website to show what tax money is being used on

CARBONDALE, Ill. - Illinois Comptroller Susana Mendoza has begun revamping her office's website to better show taxpayers where their money is being spent.

She's doing this while paying down the state's backlog of unpaid bills. So far the backlog fell from $16.7 billion, last Tuesday, to $9.5 billion by Monday. The office has paid out the entire $6.48 billion proceeds from the state's bond issuance, along with more than $1 billion in federal reimbursements from the payment of medical bills.

Since Wednesday, the Office of the Comptroller has released more than $3.5 billion in medical vouchers, which are eligible for federal reimbursements. Almost $4 billion has gone toward state health insurance claims owed to medical providers. State taxpayers were accruing 9-12% interest on many of those bills. Reducing the interest payments to the 3.5% rate, the state got on its bonds, will save taxpayers billions of dollars over the life of the bonds.

Last week, the state finalized the issuance of $6 billion in bonds but received $6.48 billion in bond proceeds, including a net $480 million premium from the sale.

On the same day the state received the bond proceeds, the Illinois Senate overrode Governor Bruce Rauner's veto of the Debt Transparency Act. The law, which takes effect January 1, requires monthly and more detailed reports from state agencies, under the Governor, on how many unpaid state bills they are accumulating.

That information will also be shared on the Comptroller's website.


More Stories

Trending Stories

Don't Miss

  • CIProud Text Alerts
    Copyright 2017 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
  • Meet the Team
    Copyright 2017 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
  • CI Heroes
    Copyright 2017 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
  • WMBD on Facebook
    Copyright 2017 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
  • Living Well with Evelyn Wilkerson
    Copyright 2017 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Latest News

Video Center