A scholarship program run by the state treasurer's office is on hold. For about a decade, the treasurer's office has given out scholarships. It's a program associated with the Bright Start college savings program.

Treasurer Michael Frerichs ordered an independent review upon taking over the office in January. The report found there aren't proper rules to determine how the treasurer should award the scholarship money.

On top of that, he says there was no follow up. Only about half of the scholarships have been used.

The new state treasurer is in the middle of an extensive review of how the office is managed.

Democrat Mike Frerichs says he brought in “outside eyes” to make sure the office is operating efficiently. 

Susan Stephens / WNIJ

Illinois House minority leader Tom Cross is telling his Republican colleagues today he plans to run for Illinois treasurer. 

Jacquilyn Stephens / WNIJ

The Illinois State Treasurer says lawmakers need to make some progress toward fixing the state’s budget woes, or he says the crisis will get worse. Republican Dan Rutherford was in DeKalb Tuesday to host a roundtable discussion about the state’s finances. He says he doesn’t expect much progress before the November election, although the state’s bond rating is suffering: