Analysis of Governor’s Proposed FY24 Operating Budget

On Wednesday, Illinois Governor JB Pritzker gave his State of the State address and presented his proposed Fiscal Year 2024 (FY24) budget to the Illinois General Assembly. 

Budget Overview

The governor’s proposed FY24 budget totals $49.6 billion in general fund expenditures ($652 million below FY23) and estimates $49.9 billion in revenue ($349 million below FY23), for an expected surplus of $300 million. Under current state statute, $138 million of the surplus would go into the Budget Stabilization (“rainy day”) Fund. Although other revenues are down, the state’s three biggest revenue sources – individual income tax, corporate income tax, and state sales tax – are expected to rise by $628 million (1.6%), to $40.6 billion.

The IACA (Illinois Arts Council Agency) Budget

The proposed FY24 IACA budget would increase state funding for the agency by $1.5 million (11.0%), to $15.1 million. Here’s a breakdown:

  • Funding for administration and operations would increase by 4.9%, to $2.2 million.
  • Funding for grants would rise by 12.2%, to $12.9 million.
  • Most IACA line items would receive a 10% increase, including the largest line item – grants and financial assistance to arts organizations – which would grow to $5.7 million.
  • Arts education would receive a $383,000 increase (28.8%), to $1.7 million.

What about federal support for IACA?

The agency has fully spent the $1.5 million in federal COVID relief it had in hand in FY22; however, the FY24 budget anticipates that general federal support will grow by $250,000 (23%), to $1.3 million. As in past fiscal years, IACA’s budget would rely heavily on state general funds, which would equal 92% of the agency’s overall $16.5 million budget.

Two additional IACA programs

The governor’s budget proposal would provide funding for two new IACA programs:

  • $200,000 for Creative Forces, supporting arts engagement for military and veteran populations.
  • $50,000 for Big Yellow School Bus, helping schools and educational groups offset transportation costs to professional arts and cultural activities.

Additional notes

As in previous fiscal years, the proposed state support of IACA is miniscule in the larger picture of the entire budget. Under the proposed FY24 budget, state funding for IACA ($15.1 million) would equal only 0.03% (three one-hundredths of a percent) of overall general fund expenditures ($49.6 billion).

Governor Pritzker’s address referenced the arts. He highlighted the strength of Illinois’ film industry. He also recognized the arts program of Curie High School, which is globally recognized for “melding great academics with an exceptional arts program.”

Do you have questions about the budget? Reach out to Jonathan VanderBrug, Deputy Director of Civic Engagement, at

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