The Illinois treasurer is sounding the alarm over the potential negative impact of the state budget impasse on his office's operations.
The treasurer's office is tasked with managing billions of taxpayer dollars and overseeing various financial programs.
Illinois Treasurer Mike Frerichs sent a letter to the governor and state legislative leaders on Wednesday, warning that "critically important banking and investment contracts remain unpaid" during the budget impasse. And that puts operations at risk of disruption, he said.
"If services from these vendors are suspended, there may be devastating effects on the state's ability to manage its finances, pay its debts, and maximize returns for the people of Illinois," the letter says.
If the treasurer's office cannot pay its vendors, Frerichs said the banking and financial services it provides to state agencies could be halted.
"State agencies would then not be able to deposit or accept checks, cash, or electronic funds, including federal funds," the treasurer wrote.
Frerichs further warned that his office may be unable to provide funds to the comptroller's office. In that situation, the comptroller's office could not make vendor and state worker payroll payments, according to the treasurer.
Rauner and Democratic legislative leaders have yet to agree on a budget for the 2016 fiscal year, which began on July 1.