Illinois spent a record $765 million of general funds in the first three months of fiscal 1992, which began July 1, paying bills left over from fiscal 1991, state Comptroller Dawn Clark Netsch reported last week.

Paying bills from the last fiscal year with revenues raised in the first three months of the new fiscal year is called lapse-period spending. The previous record for lapse-period spending was $586 million, representing bills carried over from fiscal 1990 and paid for with revenues during fiscal 1991.

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