Fiscal Year 2016 Budget Hearings
The Senate’s Appropriations I and II committees heard testimony during the week on projected budgetary needs from several state agencies, boards and commissions. The hearings provide lawmakers and the public with specific information on state fiscal matters, and insight into what Illinois’ final budget blueprint will look like.
On March 3, the directors of the state’s retirement systems gave a bleak forecast about their agencies and they provided updates as to the current fiscal health of the State Employee Retirement, State University Retirement, General Assembly, and the Judge’s Retirement Systems.
Also during the week, several legislative support service agencies provided their budget requests, while the Governor’s Office of Management and Budget presented their overall assessment on the Fiscal Year 2015 and 2016 budgets and the need to scale back spending.