Grundy Reporter

In a new report by Truth in Accounting, Illinois has been ranked last among all 50 states for financial transparency. The report highlights the state's delay in publishing its fiscal year 2023 Annual Comprehensive Financial Reports. These reports were supposed to be published by June 30, 2024, but only an "interim" version has been released by the Illinois Comptroller’s Office.

The Annual Comprehensive Financial Reports are considered a key tool for assessing the state's financial condition. The incomplete status of the 2023 report follows issues with the 2022 report, which included a disclaimer of opinion due to auditors' inability to confirm that financial statements were free from significant errors. This situation raises concerns about Illinois's fiscal accountability.

State Senator Sue Rezin commented on the findings, stating: "This report is yet another reminder of Illinois Democrats’ inability to provide basic transparency to taxpayers." She emphasized that timely and accurate financial reporting is crucial for public trust and effective budgetary decisions. Senator Rezin cautioned that without serious attention to financial responsibility, Illinois will continue facing challenges in credibility and fiscal stability.