DATE:    Tuesday, April 8, 2025
TIME:     9:00 a.m.
PLACE:  Room 400, Capitol Building, Springfield, Illinois
TOPIC:   FY 2026 State Employees’ Group Insurance Program

OVERVIEW OF THE COMMISSION’S FY 2025 REVENUE ESTIMATE UPDATE AND FY 2026 FORECAST
Eric Noggle, Revenue Manager

In March 2025, the Commission released its FY 2026 General Funds revenue projection. The Commission estimates that FY 2026 General Funds revenues will total approximately $54.224 billion. This figure is $610 million above CGFA’s revised FY 2025 forecast of $53.614 billion.

GENERAL FUNDS RECEIPTS SEE SMALL DIP IN FEBRUARY
Eric Noggle, Revenue Manager

Revenues deposited into the State’s General Funds in February were $152 million below last February’s totals for a year-over-year change of -4.4%. With revenues through January virtually equaling last year’s levels, February’s decline nearly matches the year-to-date difference of -$153 million with two-thirds of the fiscal year now complete.

FY 2026 ECONOMIC OUTLOOK
Benjamin L. Varner, Chief Economist

In preparation for the Commission’s FY 2026 revenue estimates, the Commission has prepared an overview of the status of the national and state economy in recent years, as well as a summary of economic estimates for 2025 and 2026.