Investor Presentaiton
BEAL
THE STATE
AUG 9 1818
The State is Committed to Preserving Liquidity
Paying vendors and providers and reducing interest costs
The Governor, Comptroller and Treasurer worked to address revenue shortfalls through several management
tools - ensuring that billions could be paid to the State's providers while reducing potential late payment
interest costs and avoiding further growth in the State's bill backlog:
Federal Reserve Municipal Liquidity Facility (MLF)
June 2020: $1.2 billion
• Due June 5, 2021. $845 million outstanding
December 2020: $2.0 billion
Required set-asides to GOBRI annually each December until December 2023. $690 million is due to
GOBRI in December 2021
Interfund Borrowing (IFB)/Treasurer Investment Borrowing (STO)
The Comptroller interfund borrowed $312 million in March and April 2020 as the impact of the pandemic
was felt in the State's revenue collections
As of February 26, 2021, the State owed approximately $1.0 billion on interfund borrowing
Additionally, the State Treasurer can use the investment borrowing tool allowed under the Deposit Act to
invest up to $2 billion of the state's portfolio in General Funds receivables. Latest borrowing in November
2020
•
$400 million is currently outstanding and scheduled to be repaid prior to the end of FY21
OF ILLINOIS
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