Fiscal Year 2007 First Quarter Financial Review

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FISCAL YEAR 2007 FIRST QUARTER FINANCIAL REVIEW
FY 06 FY 07 Change % Change FY 06 FY 07 Change % Change
OPERATIONS
General Funds Revenues $ 5,961 $ 6 ,117 $ 1 56 2.6% $ 5,961 $ 6,117 $ 156 2.6%
Operating Transfers In 432 5 47 1 15 26.6% 432 547 115 26.6%
Total Operating Receipts $ 6,393 $ 6 ,664 $ 2 71 4.2% $ 6,393 $ 6,664 $ 271 4.2%
General Funds Expenditures $ 5,893 $ 6 ,111 $ 2 18 3.7% $ 5,893 $ 6,111 $ 218 3.7%
Operating Transfers Out 673 8 22 1 49 22.1% 673 822 149 22.1%
Total Operating Disbursements $ 6,566 $ 6 ,933 $ 3 67 5.6% $ 6,566 $ 6,933 $ 367 5.6%
Change in Operating Cash-Increase(Decrease) $ ( 173) $ ( 269) $ (96) N/A $ ( 173) $ ( 269) $ ( 96) N/A
Table I
OPERATING HIGHLIGHTS*
First Quarter Year to Date
(in millions)
First Quarter
FY2006 vs. FY2007
*Refer to Appendix I for details.
OPERATING HIGHLIGHTS
As illustrated in Table I and detailed in Appendix I, total first quarter state and federal revenues for fiscal year
2007 totaled $6,117 million or $156 million (2.6%) above the fiscal year 2006 level. Total Revenues and
Operating Transfers In for the first quarter of fiscal year 2007 was $6,664 million, a $271 million (4.2%)
increase from comparable period of fiscal year 2006. The increase was primarily attributable to an increase in
income tax and sales tax collections.
As shown in Appendix II, total disbursements increased by $367 million (5.6%) in the first quarter of fiscal year
2007 compared to 2006. That increase was primarily associated with a pay down of outstanding accounts
payable of $371 million, when compared to the first quarter of fiscal year 2006. One-time events, as well as
timing differences in revenues, spending, and cash flow impact the operating results of any one period, such that
any one period results are generally offset by corresponding timing issues in subsequent periods.
STATE OF ILLINOIS
GOVERNOR’S OFFICE OF
MANAGEMENT AND BUDGET
ROD BLAGOJEVICH
GOVERNOR