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State Gets Good Financial News

Wed, 06 Nov 2013 06:55:48 CST
By: AP

The Illinois General Assembly budget forecasters say the state is on track to bring in an extra $369 million in revenue for the current fiscal year. That's according to an updated analysis by the Commission on Government Forecasting and Accountability. The panel says the state's extra money includes another $200 million from sales tax income and an additional $72 million from court settlements. Officials credit the gains in part to an increase in car sales as well as income tax collections that are off to a better-than-expected start. The updated figure raises the commission's general fund estimate to $35.8 billion, up from $35.45 billion for the fiscal year that ends in June. That's an increase of about 1 percent. State officials aren't saying what they'll do with the additional money.

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