Audit Finds College Illinois Deficit Remains
A state audit has found that the troubled College Illinois prepaid tuition plan continues to run a deficit as the agency that runs the program searches for a way get it back on track.
The Illinois Auditor General's office issued an annual report Tuesday on the Illinois Student Assistance Commission. It found the tuition program's deficit dropped $76 million as of June 30, 2011, down to $262 million. However the commission itself notes that by another accounting method the audit also uses the deficit rose slightly from $531 million to $536 million.
Commission spokesman John Samuels says the agency is working with lawmakers on a plan to try to repair problems with the program.