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Illinois Tollway reports modest revenue gains in Q3 and details $500 million bond sale, seeks refunding authorization
Summary
The Tollway reported third-quarter 2025 revenue slightly above budget and announced a $500 million Series 2025A bond sale to support its Move Illinois program; finance staff requested board authorization to refund up to about $1.03 billion of callable bonds in 2026, subject to market conditions.
Kathy Williams, the Illinois Tollway’s chief financial officer, told the Finance & Audit Committee on Nov. 20 that preliminary, unaudited results for the third quarter of 2025 show year‑to‑date revenue modestly ahead of budget and continued growth in toll collections compared with 2024.
Williams said year‑to‑date revenue was '9,000,000,' which she described as 0.7% above budget, and reported that operating expenditures were roughly $27,000,000 (about 7.6%) below budget largely because of open positions and timing of contractual services. She told directors that capital spending remains below plan overall, driven by timing delays on several large projects in the Move Illinois…
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