Investor Presentaiton
SEAL OF
THE STATE
FY 2021 and FY 2022 General Funds Revenues Summary
•
Base FY22 General Funds revenues are
•
estimated to total $41.7 billion, a $226 million,
or 0.5%, increase from FY21 revised base
estimates
Total General Funds revenues for FY22 reflect
a $1,772 million, or 4.1%, decrease from FY21
due to the one-time nature of the $1,998
million in MLF borrowing proceeds
Does not rely on additional borrowing
Individual income taxes are forecasted to be
below FY21 due to the extension of the April
2020 tax filing deadline to July 2020 - in FY21
• Federal revenue forecast equals $3,971
million, a reduction from FY21 due to only a
half year of enhanced Medicaid match
•
Includes assumption enhanced match
extends through CY21
Does not assume new federal stimulus
dollars
FY22 revenue forecast benefits from proposed
closure of several tax loopholes and
redirection of existing revenue streams
Resources ($ millions)
State Sources: Revenues
Net Individual Income Taxes
Net Corporate Income Taxes
Net Sales Taxes
Total Income and Sales Taxes
Other State Revenues
Transfers In
Total State Sources
Federal Sources
Total Base Resources
State of Illinois
General Funds Financial Walkdown
Interfund Borrowing and Fund Reallocations
Treasurer's Investment Borrowing
Municipal Liquidity Facility
Total General Fund Resources
Actual
FY 2020
Estimated
FY 2021
Forecast
FY 2022
Change: FY 2021 to
FY 2022 Forecast
$
%
$ 34,509 $ 37,098 $ 37,737 $ 639
$18,471
2,081
$20,523
2,620
$20,151
(373)
(1.8%)
3,058
438
16.7%
8,255
8,873
9,518
645
7.3%
$
28,807 $ 32,016 $
32,726 $
710
2.2%
$3,271
$3,295
$3,170
(125)
(3.8%)
2,431
1,787
1,841
54
3.0%
1.7%
$3,551
$4,384
$3,971
(413)
(9.4%)
$ 38,060 $ 41,482 $ 41,708 $ 226
0.5%
$462
$0
$0
0.0%
400
0
0
0.0%
1,198
1,998
0
(1,998)
(100.0%)
$ (1,772)
(4.1%)
$
40,120 $ 43,480 $ 41,708
OF ILLINOIS
AUG. 96 1818
Note: Totals may not add due to rounding
15View entire presentation