Wintrust Business Minute: Illinois is financially better than expected at the end of fiscal year

Wintrust Business Lunch

Steve Grzanich has the business news of the day with the Wintrust Business Minute.

Illinois’ financial situation is better than expected after the end of the fiscal year 2024. The state has a financial cushion of about $123 million in excess revenue. The state comptroller reported $4.7 billion in cash on hand, with a chunk of that already allocated for 2025. The new fiscal year began on July 1. Illinois’ rainy-day fund included about $2.1 billion. The governor’s office says the year-end balance represents a pattern of fiscally responsible policies, including nine credit upgrades for Illinois.

Also, Riverwoods-based Discover Financial Services has settled a class-action lawsuit filed by merchants who claimed they were impacted by credit card misclassifications. Listen for more below:

https://serve.castfire.com/audio/5280102/5280102_2024-07-08-195502.64kmono.mp3

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