Late Payments Article

A no-longer-unusual article about late state payments.  SU can empathize.  We’ve been borrowing and spending money on paying interest in order to pay our employees and bills for a little while now.  We have actually gotten a few payments from the state, which is a blessing and a curse. If we hadn’t gotten payments we would have exhausted our credit and been able to apply for expedited payments for six months, which would have meant steady payments for while.  As it is, the payments we’ve received haven’t been enough to pay off our borrowing nor have they taken us to the end of our credit.  It is scary to come to the end of our credit and have to jump through the hoops to get payments from the state before we can’t pay our employees or our bills, but we’ve been that route before and know the routine.

Charting a Decade of State Funding

Below is an analysis by Don Moss & Associates of how state funding for agencies like SU has failed to keep up with inflation.  It is mush worse than it appears, because there are no dollar amounts attached to the grant funding that was eliminated nor the impact of being paid six months later than appropriate.  Don Moss is a tireless advocate for people with developmental disabilities and we appreciate his efforts.  We are truly grateful, in the absence of adequate funding from our state, for the support of the Streator community.

 

FUNDING INEQUITIES

Comparison of inflation rates and cost of living adjustments (COLA) for

agencies serving people with developmental disabilities

Provided by Don Moss & Associates

*Consumer Price Index-Bureau of Labor Statistics

**Total not compounded which would make it even higher

DON MOSS & ASSOCIATES

310 EAST ADAMS

SPRINGFIELD, IL  62701

217-528-6977

1/4/2013