• About Us
  • Write For Us
  • Advertising
  • Support
  • Contact Us
March 30, 2023 7:08 pm CDT
LISTEN LIVE:
No Result
View All Result
Heartland Newsfeed
728x90 Explore Twitch Services
Call Now: 844-592-0768
ADVERTISEMENT
  • Illinois
    • Local
      • Capital Area
      • East Central Illinois
      • West Central Illinois
    • Regional
      • Chicagoland
      • Metro-East
      • Northern Illinois
      • Quad Cities
      • Southern Illinois
    • Obits
    • Executive Watch
    • Legislative Watch
    • Road Conditions
      • Illinois
    • Weather Closings
      • Central Illinois
  • Missouri
    • Regional
      • Northeastern Missouri
      • East Central Missouri
      • St. Louis Metro
      • Southeast Missouri
    • Executive Watch
    • Legislative Watch
    • Weather Closings
      • Greater STL Metro (IL/MO)
    • Road Conditions
      • Missouri
  • Weather
  • National
  • World
  • Sports
    • Basketball
      • NBA
    • Bowling
    • Boxing
    • Football
      • Arena Football
      • CFL
      • NFL
      • XFL
      • USFL
    • Golf
      • PGA
    • Hockey
      • NAHL
      • NHL
    • MLB
      • MiLB
    • MMA
      • UFC
    • NCAA
      • Basketball
      • Football
    • Olympics
    • Preps
    • Racing
      • Horse Racing
      • NASCAR
    • Soccer/Futbol
      • Bundesliga
      • Champions League
      • FIFA
      • La Liga
      • MLS
      • NWSL
      • Premier League
      • U.S. National Soccer
      • USL
      • USL Championship
    • Tennis
    • Wrestling
      • AEW
      • Independents
      • MLW
      • NJPW
      • NWA
      • ROH
      • WWE
  • Entertainment
    • Crossword
    • News Quiz
  • Opinion
    • Letters To The Editor
    • Editorial
    • Columnists
  • Radio
    • Affiliates
    • Live Video
      • HLNF Live
      • RTMP Direct
    • Network Schedule
    • Network Streams
    • Podcasts
      • Radio Network
      • Podcast Network
  • Features
    • Classifieds
      • Current Ads
      • Job Board
        • Job Listings
        • J2CTalroo
        • Post a Job
        • Receive Alerts
        • ZipSearch
    • Community Calendar
    • News Feeds
      • Statehouse
      • Legislative
      • Breaking News
  • Store
  • Deals
  • Calendar

No products in the cart.

Heartland Newsfeed
No Result
View All Result

Illinois Policy Institute: Moody’s warns delay of state funding for Illinois schools a ‘credit negative’

Guest Poster by Guest Poster
August 21, 2017
in Business & Lifestyle, Business News, Commentary, Decision 2018, Editorial, Education, Financial News, Governmental Watchdogs, Guest Posts, Illinois, Illinois Legislative Watch, Life & Style, Local, Opinion, Opinion-Editorial, Politics
Reading Time: 3 mins read
Donate
0

SPRINGFIELD/CHICAGO (Illinois Policy Institute) — State lawmakers keep giving ratings agencies reasons to downgrade Illinois government: pension crises, years of bad budgets and a two-year budget impasse are just a few examples. All have caused the credit ratings of various Illinois governments – from cities to universities to the state itself – to collapse. Many are now junk-rated and the state is just one notch away from junk itself.

Now the ratings agencies have yet another reason to downgrade some Illinois governments: the state’s failure to send education funding to school districts like it was supposed to this week.

The state missed making its payments to districts because state money for education has not technically been appropriated yet. The money is locked up due to the current fight in Springfield over the state’s new education funding formula bill and the bailout of Chicago Public Schools it contains.

Until lawmakers resolve that fight, the state won’t be able to distribute education funding. And that means school districts are at risk of being downgraded.

Moody’s Investors Service warned Illinois school districts on August 16 that the state’s failure to distribute state aid on time is a “credit negative” for Illinois’ school districts.

The ratings agency also warned that property-poor districts will be the most negatively affected if the school funding impasse continues.

Many districts in Illinois are heavily dependent on state education dollars in order to function. Without state aid, several districts have warned they’ll run out of funds in just a few months.

Illinois school districts are at risk of a downgrade and students are at risk of missing school because of lawmakers’ willingness to play games with education funding.

Two months ago, the General Assembly passed a record-spending budget – which included a $ 5 billion dollar tax hike. The budget funded everything, from social services to higher education to Medicaid, except K-12 education.

Education funding was made dependent on the passage of the new education funding bill, Senate Bill 1. But SB 1 was withheld by the Illlinois Senate from Gov. Bruce Rauner for nearly two months. Lawmakers were trying to force the governor to sign the bill by waiting until school was about to start before sending it to his desk.

Lawmakers finally sent SB 1 to Rauner at the beginning of August. Rauner placed an amendatory veto on the bill, cutting out the Chicago bailout language and creating a more level playing field for districts going forward.

Since then, the Senate has voted to override the governor’s amendatory veto. No vote has happened in the Illinois House yet.

The two-month delay lawmakers’ engineered has brought Illinois to the brink of yet another crisis.

Lawmakers are arguing about the incredibly complex education funding system – and the governor’s amendatory veto – just days before many schools are set to open for the year.

That isn’t right. Illinois’ school children – and school district funding – should not be used as pawns in yet another political fight.

If politicians can’t agree on an education funding solution immediately, they should implement the state’s existing education funding formula – as flawed as it may be – so children can attend school without disruption.

With funding in place, lawmakers can get back to negotiating education funding reform without a crisis looming over them. And school districts across the state won’t be at risk of more downgrades.

Guest Poster
+ posts
  • Guest Poster
    https://www.heartlandnewsfeed.com/author/guestposter/
    LETTERS: Ranked choice voting
  • Guest Poster
    https://www.heartlandnewsfeed.com/author/guestposter/
    JASE Medical is disrupting the medical industry
  • Guest Poster
    https://www.heartlandnewsfeed.com/author/guestposter/
    Four gifts for the sports enthusiast on Prime Day
  • Guest Poster
    https://www.heartlandnewsfeed.com/author/guestposter/
    The basics to protecting your family's financial health

Share this:

  • Twitter
  • Facebook
  • LinkedIn
  • Reddit
  • Tumblr
  • Telegram
  • Print
  • Email

Like this:

Like Loading...
Tags: 'negativecreditDelayFundingIllinoisMoody’sSchoolsstatewarns
Share196Tweet123Share5Send

Discussion about this post

📻 ON AIR NOW

.
ADVERTISEMENT
  • Five things you should know before purchasing auto insurance

    614 shares
    Share 246 Tweet 154
  • Nokomis council passes dumpster ordinance

    543 shares
    Share 217 Tweet 136
  • Illinois to see two gas hikes in 2023

    538 shares
    Share 215 Tweet 135
  • Viola Armstrong, 92, Pana

    531 shares
    Share 212 Tweet 133
  • Leto Voudrie, 83, Moweaqua

    529 shares
    Share 212 Tweet 132

HOURS AND INFO

800 Capps Ave.
Nokomis, IL 62075-1415
admin@heartlandnewsfeed.com
Online all the time 
Office Hours: 8 AM to 8 PM
Newsroom: (217) 569-4230
Listen Line:
(217) 569-4230 ext. 1
Advertising:
(217) 718-5281
After-Hours:
(217) 565-9709 / (217) 565-9273

Sitemap | Published Press | Privacy Policy
Staff Email | Independent Media

LIVE WEBSITE VIEWERS

.
ADVERTISEMENT

DEADLINES

Daily: 11 p.m. Central
Weekend: 11 p.m. Central
Sports: 11 p.m. Central

Upcoming deadlines
NYE/NYD: December 30, 5 p.m. Central

WEBRINGS

Hotline Webring: Previous — Next

Some rights reserved 2017-2023 by Heartland Newsfeed, a subsidiary partnership by Heartland Internet Media Networks and Heartland Media Group of Central Illinois LLC. Content published by Heartland Newsfeed staff is covered by the BipCot NoGov license. This allows use and re-use by anyone except governments and government agents. License on record. JNews theme designed and developed by Jegtheme.

No Result
View All Result
  • Home
  • News
    • Politics
    • Business
    • World
    • Science
  • Entertainment
    • Gaming
    • Music
    • Movie
    • Sports
  • Tech
    • Apps
    • Gear
    • Mobile
    • Startup
  • Lifestyle
    • Food
    • Fashion
    • Health
    • Travel

Some rights reserved 2017-2023 by Heartland Newsfeed, a subsidiary partnership by Heartland Internet Media Networks and Heartland Media Group of Central Illinois LLC. Content published by Heartland Newsfeed staff is covered by the BipCot NoGov license. This allows use and re-use by anyone except governments and government agents. License on record. JNews theme designed and developed by Jegtheme.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

00:00
00:00
WP Radio
WP Radio
OFFLINE LIVE
%d bloggers like this: