April 30, 2019 Meeting Notice
DATE: Tuesday, April 30, 2019
TIME CHANGE: 9:00 a.m.
PLACE: Room 400, State Capitol Building, Springfield, IL 62706
TOPIC: FY 2020 State Employees’ Group Insurance Program
March 2019 Monthly Briefing
REVENUE: MARCH RECEIPT GROWTH DECENT
Jim Muschinske, Revenue Manager
In March, base monthly receipts increased $217 million. A comparatively stronger month for federal sources as well as good personal income tax and sales tax performances were the keys to the monthly advance. The monthly gain occurred despite having one less receipting day this March.
Excluding interfund borrowing, last year’s $2.5 billion bond proceeds transfer and the $750 million related to the Treasurer’s Investments this fiscal year, base general funds for the first three-quarters of FY 2019 are $1.213 billion lower than last year. As explained in the November briefing, the reason for the decline is due to last year’s federal reimbursement surge. Absent that, the closely-tied economic sources continue to perform quite well.