* The comptroller’s office is releasing a report about the impasse’s consequences. Some press release bullet points…
* State contracting with non-profits declined due to the lack of state budgets. Grant contracts with non-profits decreased from 6,333 in fiscal year 2015 to 3,916 in fiscal year 2016—a drop of just over 38 percent. While it’s difficult to pinpoint the number of social service providers that closed as a direct result of the impasse, this drop in contracts shows the negative effect on the state’s provider network.
* During the impasse, public universities and community colleges enrolled 72,196 fewer students, cut 7,490 jobs, and the state lost roughly $948.7 million in generated economic output—$461.7 million of which was felt outside the Chicagoland area.
* The Monetary Award Program (MAP), which is a college tuition grant program designed to benefit low-income students, experienced a decrease in funding from $364.1 million to $169.8 million, a 53.36 percent cut. The number of MAP grants awarded continues to lag pre-impasse levels to this day.
* The bill backlog hit a record peak of $16.7 billion. By the end of calendar year 2017, the amount of late payment interest penalties linked to the budget impasse period totaled $1.139 billion—more than the combined late payment interest penalties over the previous 18 years.
* The fiscal year 2018 budget included $6 billion in general obligation bonding authority to pay down a portion of the backlogged debt. The Office of the Comptroller stopped the clock on most interest accruing bills and used federal matching funds to pay nearly $8.8 billion in backlogged bills. Even with the large paydown, Illinois’ bill backlog remains above pre-impasse levels.
* In interest alone, Illinois will pay $1.936 billion on this new general obligation debt. However, that is much less than the projected cost if the state had failed to refinance a portion of the backlog—between $6.02 billion and $8.02 billion.
The full report is here.