CHICAGO — Illinois closed the books on fiscal 2010 last week in the “worst fiscal position in its history,” with a record $4.7 billion in unpaid bills as floundering revenues failed to cover spending, Comptroller Dan Hynes reported in his quarterly overview of the state’s fiscal condition.

That figure will grow as pending bills are submitted, Hynes cautioned, noting that the state will need to successfully complete several financings to pay off the vouchers by a December deadline and tap $1 billion from surpluses in non-general fund accounts. The issues include $1.3 billion of general obligation cash-flow certificates slated for July 21 and a tobacco bond sale that is expected to generate $1.2 billion in proceeds.

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