State Ends Fiscal Year With Nearly $5B Cash On Hand

By JERRY NOWICKI

Capitol News Illinois

Illinois entered a new fiscal year Monday with a bit of a financial cushion as the prior year’s revenues exceeded final projections by about $123 million.

The state ended fiscal year 2024 with about $4.7 billion cash on hand, or about 9 percent of the allocated spending for fiscal year 2025, which began July 1. That included a record high $2.1 billion in the state’s budget stabilization, or “rainy day” fund, which has seen its balance grow steadily over the past five years.

Comptroller Susana Mendoza noted the high cash balance helped Illinois generate ov...