Readout of GOMB Meeting with Agency Chief Financial Officers

SPRINGFIELD - Tim Nuding, director of the Governor's Office of Management and Budget, led a meeting and conference call with state agency chief financial officers to discuss Executive Order 15-08 addressing the state's fiscal crisis. Nuding stressed the dire fiscal condition of the state and the need to eliminate a mid-year budget hole totaling nearly $1.5 billion. He strongly emphasized the seriousness of the executive order and that agencies must aggressively determine spending that can and will be halted. He also asked agencies to begin building their reserves as much as possible by retaining money from items like unspent grants wherever applicable. Nuding made clear that the Administration is preparing to responsibly manage the inherited budget hole without inter-fund borrowing and the governor does not want to push more unpaid bills into next year. Last, Nuding said that the governor is not afraid to take the arrows and do what it takes so we can get to the point where Illinois doesn't have fiscal crises year after year.