SPRINGFIELD, Ill. (AP) — Figures from Comptroller Leslie Munger's office show Illinois has spent more than $900 million on late-payment penalties over the last six years because of the state's inability to pay its bills on time.
About $160 million was paid out in the 2014 fiscal year. The State Journal-Register reports that it's the same amount that Gov. Bruce Rauner wants to remove from dedicated state funds to help the state's universities through the rest of the current fiscal year.
The figures don't include any outlays for the current fiscal year in which the state has been operating without a budget since July 1.
Officials from the governor's office said in February that they'd be willing to explore the idea of borrowing money to reduce the bill backlog if the Legislature passed a balanced budget.