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  • The report was publicly released on April 5, 2016, but the transmittal letter date was March 22, 2016.
  • The report was released 280 days after the end of the fiscal year it covered (June 30, 2015).
  • The report included a massive $73 billion restatement (downward) in the state’s net financial position.
  • After two years of “balanced budgets,” the state reported a significant ($3.4 billion) decline in net position during fiscal 2015.
  • Illinois incurred $1.7 billion in interest expense in 2015.  From 2009 to 2015, interest expense rose over 50% — in a period when long-term interest rates fell.

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