Illinois extremely late on its 2023 financial report. Explanation needed.
Illinois’ tardiness with its ACFR is part of why Truth in Accounting graded it an ‘F’ in its most recent Financial State of States. From that report:
READ MORE3 ways to balance Chicago’s next budget without tax hikes
If the city is ever going to get its finances on track, it must avoid its long tradition of using one-time solutions and postponing tough financial decisions, such as paying off debt and cutting costs. Chicago’s debt sits at $40,600 per taxpayer, according to Truth in Accounting.
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