State debt stays under $8 billion for third week in a row
For the third straight week, Illinois’s unpaid vendor debt checked in below $8 billion, finishing the week ending Sept. 6 at $7,725,996,776.34.
The number of backlogged vouchers were also up for the week, jumping just over 4,000 to 106,757, according to the Illinois Comptroller's website.
After skyrocketing to record highs of around $16 billion, unpaid debt has hovered in the range of $7 to $8 billion ever since Gov. Bruce Rauner moved to issue $6 billion worth of general obligation bonds.
Illinois Comptroller Susana Mendoza recently enacted the Debt Transparency Act, which is designed to keep taxpayers in the loop about the state’s financial standing by requiring certain agencies to report monthly liabilities in a manner clearly outlined by the comptroller’s office.