CHICAGO — Illinois Gov. Pat Quinn Thursday signed a fiscal 2011 budget that deals with the state’s $12 billion deficit through $1.4 billion in cuts, borrowing and other one-time maneuvers and leaves $6 billion of bills unpaid.
The general fund budget signed by Quinn for the fiscal year that began yesterday totals $24.9 billion, down from the fiscal 2010 level of $26.3 billion. It is part of an overall $50 billion all-funds budget. The Democratic governor took a month to sign the budget as his administration reviewed potential cuts.