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Dollars & Sense September‘13
E - N E W S L E T T E R F R O M I L L I N O I S C O M P T R O L LE R
J U D Y B AAR T O P I N K A.
To receive each issue of Dollars
& Sense e-newsletter please click
SUBSCRIBE above and fill in
your contact information. STATE CAPITOL
201 Capitol Springfield, IL 62706
1(217) 782-6000
SPRINGFIELD
Land of Lincoln Building
325 West Adams Springfield, IL 62704
1(217)782-2673
CHICAGO
100 West Randolph Street Suite 15-500
Chicago, IL 60601 1(312) 814-2451
Letter from the Comptroller: ILLINOIS NONPROFIT ADVISORY
COUNCIL LAUNCH pg.2
POWER PROGRAM HELPS
LOCAL AUTO REPAIR SHOP pg.4
Hi Readers,
Welcome to Dollars & Sense- Issue 3!
As usual it’s a whirlwind of activity over here at the Comptroller’s Office.
Luckily, we’ve gathered some of the highlights from the summer months for you.
Take a minute to look through. I’m sure something will catch your fancy.
If I can suggest—Check out the Illinois Nonprofit Advisory Council on page two.
It’s no secret these are tough times for Illinois, but it can be especially difficult
for our service organizations that rely on payment from the state to keep things
afloat. This Advisory Council lets me regularly sit down with nonprofit leaders
from around the state, learn the ins and outs, see where the problems are and
decide what we can do to bring these groups some much-needed relief. And
what’s more—we have some pretty spectacular members with brilliant ideas. I’m
very much looking forward to our next meeting and can’t wait to report back
with what we have in the works.
Also, this is the second time we’ve dedicated an entire page to the POWER
Program: Providing Opportunities for Work through Education and Resources.
The POWER Program was launched to ensure that small and minority-owned
businesses had the resources they needed to land state contracts. I’m happy to
report; it has been a big hit in communities across the state. When you flip to
page four make sure to read about one of our participants, the Good Samaritan
Auto Repair Shop. I’m very proud of our team for having a hand in their success.
Please enjoy this issue of Dollars & Sense. We have some really great stuff. And
as always, contact us with comments or suggestions.
Until next time,
Judy Baar Topinka
Illinois State Comptroller
CHICAGO—Comptroller Judy Baar Topinka recently joined
nonprofit leaders from across the state in announcing the formation
of the Illinois Nonprofit Advisory Council to tackle staggering
fiscal challenges facing service organizations.
Topinka made the announcement following a successful first
meeting in which the Council made brief introductions and got right
to business discussing the state’s financial situation. The group
highlighted the effects of state payment delays and shared details
for minimizing financial hardships.
“Many of our nonprofit organizations serve our most vulnerable
residents, and they simply cannot wait months on end for payment
from the state,” Topinka said. “These meetings are intended to
highlight the seriousness of the situation, and address what we can
do about it.”
The Illinois Nonprofit Advisory Council aims to strengthen the
relationship between nonprofits and state government in order to
find solutions and bring much needed relief to service
organizations. Quarterly meetings will be held to maintain an
ongoing dialogue .
“Nonprofit organizations provide critical services to people across
Illinois and account for nearly 10 percent of the state’s workforce.
So when nonprofits struggle, it affects us all,” said Valerie Lies,
President and CEO of Donors Forum, and one of the Council
members. “I want to thank Comptroller Topinka for creating this
Council and for her ongoing leadership on this issue.”
One year ago Topinka embarked on Illinois Has Heart, a 4-day,
11-stop statewide tour to encourage Illinois nonprofit agencies to
contact her office if they were on the verge of closing due to state
payment delays. Additionally, she directed staff to prioritize
payments for day programs, child group homes, community living
facilities and other programs serving the developmentally disabled.
For more information or questions regarding the Illinois
Nonprofit Advisory Council please contact IOC Director of
External Affairs Marshette Turner at
TurneMM@mail.ioc.state.il.us.
Comptroller Judy Baar Topinka greets Andrea Durbin, CEO of the Illinois
Collaboration on Youth at the Illinois Nonprofit Advisory Council’s first meeting.-Picture by Teresa Potasiak
Council discusses nonprofit fiscal challenges in first meeting
TOPINKA LAUNCHES
IL NONPROFIT ADVISORY COUNCIL
Dollars & Sense - 2
Comptroller Judy Baar Topinka listens to Valerie Lies, President and CEO of Donors Forum as she speaks to press at the launch of the Illinois Nonprofit Advisory
Council at the James R. Thompson Center in Chicago -Picture by Teresa Potasiak
Nonprofit Advisory Council Member and
Donors Forum President & CEO Valerie Lies
discusses the importance of streamlining the
state contracting process for nonprofits in her
Huffington Post Chicago Blog:
FROM THE COUNCIL:
VALERIE LIES
HOW NONPROFITS AND GOVERNMENT
CAN WORK TOGETHER TO TACKLE
ILLINOIS CHALLENGES
TINLEY PARK—Comptroller Judy Baar
Topinka took the podium at a recent Chicago
Southland Chamber of Commerce Regional
Consensus Luncheon and apologized to the
crowded room of on-looking business owners.
“I hate to be such a downer by talking about
Illinois finances. I’ve been told that being the
Chief Fiscal Officer of this state is like being the
skunk at the picnic,” Topinka joked. “So I
apologize in advance.”
The visit was one of many stops Topinka has
made at Chambers across the state in recent
months to discuss the state’s fiscal situation and
collaborate on how to get Illinois back on track.
But between the state’s deepening bill
backlog, the worst pension situation in the
nation and continuous downgrades from credit
agencies, Topinka is still sharing the “sad truth”
and poor outlook of Illinois finances at each
meeting.
Today, the Comptroller’s Office has more
than 85,000 unpaid bills totaling nearly $5
billion. With the inclusion of bills being held at
various state agencies, the total exceeds $7.5
billion. Topinka noted that number would be
larger if tax season had not brought in $1.3
billion more than expected.
“We already used those dollars to pay down
bills— which is why the current backlog is $7.5
billion and not eight or nine
right now,” she said. “Only in
Illinois would that qualify as
good news.”
She encouraged audience
members to reach out to their
representatives and demand a
different approach to finances.
“As someone who has made
a career of nagging until I get
answers,” Topinka said. “I can
tell persistence pays off. So
stay at it and don’t get
discouraged.”
THE LEDGER An Ongoing Effort
If you are interested in scheduling a program, please contact the Consumer Affairs Division at 217-782-2673 to set up an appointment. Our staff will work closely with you to schedule a date and deliver counseling of importance to your audience.
THE BASICS OF BUDGETING
IDENTITY THEFT AND FRAUD
THE NEXT STEP
COMPTROLLER’S FINANCIAL WORKSHOPS
TOPINKA DELIVERS HER TWO
CENTS TO CHAMBER
Comptroller Topinka speaks to local business leaders at the Southland Chamber of Commerce Regional
Consensus Luncheon September 9.
When The Ledger was launched in
April 2012, Comptroller Topinka
assured taxpayers the site was an on-
going project that would continue to
restore the fiscal integrity to the state.
The site has since seen various
updates and additions—with more to
come.
As of this month, the public has the
ability to view individual non-
confidential payments issued by the
Comptroller’s Office. Each payment
listed comes with the appropriation
line, the issue date and payment
amount.
Furthermore, if the payment was
made against a contract kept in the
Comptroller’s records, then users can
view a summary of that agreement—
including the issuing agency, how it
was issued, as well as other payments
made against it.
Comptroller urges local leaders to fight against fiscal mess
Dollars & Sense – 3
The Ledger set a record high of
7,300 unique visitors in one day.
Comptroller Topinka catches up with Southland Chamber of Commerce leaders
at the Regional Consensus Luncheon September 9.
POWER PROGRAM HELPS
GOOD SAMARITAN
Providing Opportunity for Work
through Education and Resources
CHARACTER ● CAPACITY ● CAPITAL COLLATERAL ● CONDITIONS
PROGRAM
8TH ILLINOIS BLACK CHAMBER OF
COMMERCE CONVENTION
Dollars & Sense – 4
Topinka’ s POWER share resources at convention
Due to the collapse of the real estate industry over the last
decade, banks are more cautious than ever lending money.
Real estate—what was once considered a safe risk by
banks—has become a troubled asset and borrowers are
finding they owe more to the bank than what their home is
currently worth in today’s market.
Although banks are slowly beginning to lend money
again, it is important to know what they look for in
considering both home and business loan applications.
I like to refer to the “5 C‟s.”
The first factor, Character, refers to a borrower's
reputation. Capacity measures a borrower's ability to repay
a loan by comparing income against recurring debts. The
lender will consider any Capital the borrower puts toward a
potential investment, because a large contribution by the
borrower will lessen the chance of default. Collateral, such
as property or large assets, helps to secure the loan. Finally,
the Conditions of the loan, such as the interest rate and
amount of principal, will influence the lender's desire to
finance the borrower.
Another tip to consider: Get organized first! With
business loans in particular, it is useful to put together a
business plan. A plan will not only streamline the process of
starting up a business, but it also a useful material to show
bankers. If an accountant can assist in formulating this plan,
great! If not, help is available through the Small Business
Development Centers which are located throughout the
state.
-John Cieslik, Small Business Ombudsman, POWER
POWER liaison John Cieslik shares
valuable tips in applying for loans
THE FIVE „Cs‟
CHICAGO—State Comptroller Judy Baar Topinka
and representatives of her POWER Program attended the 8th
Annual Illinois Black Chamber of Commerce Convention. The
convention hosts a cross sectional gathering of entrepreneurs, corporate
entities, policy makers and elected officials. POWER liaisons were on
hand to share resources provided by the Comptroller’s Office with
attending, small and minority business owner.
Comptroller Judy Baar Topinka poses with Representative Robin Kelly at the Illinois Black Chamber of Commerce Convention August 22.
CHICAGO—Located at 2801 E. 79th Street in Chicago’s 7th ward, Good
Samaritan Auto Repair has been a community institution and recently
became a POWER program success.
Good Samaritan was established in 1992 by Haitian emigrant Jacques
Eugene as both a way to support his family and give back to his
community as a small business owner. Mr. Eugene, a good Samaritan
himself, has been active in assisting his neighbors in times of need
through pro bono auto work
and community based training
and hiring.
Recently, Comptroller
Topinka’s POWER Program
was able to assist Mr. Eugene
and Good Samaritan with
registration for the Illinois
procurement bulletin board,
certification preparation and
resource referrals. Through
community partner Chicago
Neighbor Initiatives, POWER
helped Mr. Eugene in receiving
$18,000 in operating capital to
allow his business tackle the
challenges of today’s market
place.
Good Samaritan owner Jacques Eugene and staff pose for a photo in front of the Good
Samaritan Auto Repair.
POWER participant finds success through program
Recommended