Truth In Accounting
Recent News About Truth In Accounting
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Illinois’ financial burden per taxpayer is 3rd worst in nation
Illinois’ debt burden reached $236.1 billion during 2020, reflecting a burden of $57,000 for every taxpayer in the state, according to a new analysis from the Truth in Accounting policy institute.
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Debts carried by Chicago, underlying agencies equal $126,600 per city resident
The public debt accumulated by the city of Chicago and related agencies such as Chicago Public Schools and the transit authority equals $126,600 per resident, the highest financial burden among the nation’s 10 largest cities, a new study concluded.
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Steans: Ethics reform in Springfield is 'complicated,' 'hard to actually make real progress'
Ethics reform must be on the next legislative session’s agenda, according to state Sen. Heather Steans, but there could be delays.
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Illinois receives failing grade for budgeting from Truth in Accounting
Illinois received an 'F' from a nonpartisan accounting organization that measures state transparency and reliability in accounting practices
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Truth in Accounting critical of Pritzker, says budget 'woefully' underfunded
Illinois Gov. J.B. Pritzker's budget proposal, released on Feb. 19, 2020, calls for $42 billion in the general fund and a new rate structure for the state’s income tax.
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Truth in Accounting: Pritzker budget 'at least $4.9 billion out of balance'
Truth in Accounting founder Sheila Weinberg views the new $40 billion state spending plan that Gov. J.B. Pritzker has touted as a “real balanced budget” in the same light as all the previous budgets that have long kept Illinois in the red.
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Chicago can do better than second-worst sinkhole city, fiscal data analyst says
Chicago, ranked next-to-last "sinkhole city" in a recent government fiscal data analysis group's report about the nation's most populous cities, needs to make some changes to improve its ranking, the group's chair said during a during a recent interview.
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Illinois gets below-average marks on financial transparency
Illinois received a score of 72 on making key financial information accessible and understandable to the public, according to a new report from Truth in Accounting (TIA), a Chicago-based policy institute.
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Illinois' debt crisis fast changing and difficult to keep up with, fiscal advocate finds
With Illinois' interest penalties alone approaching $1 billion, Truth in Accounting Director of Research Bill Bergman is wondering who is servicing the state's debt, an area where things can change very fast.
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Illinois among tardiest in nation in financial reporting, Truth in Accounting says
Any good teacher will notice that the student most behind on assignments usually is the one struggling the most, and the same seems to be true of states with Illinois governmental units tardy in their financial reports.
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Use special funds as intended or scrap them, Truth In Accounting founder says
Truth In Accounting founder and CEO Sheila Weinberg thinks Illinois’ special funds should either do what they’re advertised to do or be discarded altogether.
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Illinois ranked 49th in taxypayer burden after several years of one party control
A Truth in Accounting survey has found that Illinois now ranks 49th in the country for its taxpayer burden.
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Illinoisans carry second-highest taxpayer burden, analysis reveals
The average Illinoisan carries approximately $50,000 in taxpayer burden for state government as Illinois struggles with more than $200 billion in unfunded pension and health-care liabilities.