State Stix

In August the general funds end-of-month balance was $445.84 million; the general funds average daily available balance was $456.91 million, and the combined funds end-of-month balance was $634.16 million. ... the final statewide seasonally adjusted unemployment rates were 8.6 percent in June; 9.8 percent in July and 8.6 percent in August. Final seasonally adjusted unemployment rates in June in the state's major cities were: Bloomington-Normal, 6.7 percent; Champaign-Urbana, 6.7 percent; Chicago, 8.5 percent; Davenport-Rock Island-Moline (Illinois sector), 8.8 percent; Decatur, 13.9 percent; Kankakee, 13.1 percent; Peoria, 8.9 percent; Rockford, 11.0 percent; Springfield, 8.3 percent; St. Louis (Illinois sector), 11.6 percent. According to the comptroller's July report, total state spending to regulate businesses and professions has increased over the last five years, but most expenditures are matched or exceeded by revenues from fees, licenses and other charges. Two regulatory agencies, The Department of Insurance and the Illinois Racing Board, collect a privilege tax, which is a tax on the privilege of doing business in Illinois and not for the purpose of regulation. In fiscal 1980, about $167 million of the total revenues collected by regulatory agencies were used to support spending for other state programs.

October 1980/Illinois Issues/33