Civic Federation Releases Status of Local Pension Funding FY2011 Report
This week the Civic Federation released its annual Status of Local Pension Funding report. The purpose of this report is to compile and analyze basic…
This week the Civic Federation released its annual Status of Local Pension Funding report. The purpose of this report is to compile and analyze basic…
Chicago-area public employee pension funding levels dropped significantly in FY2011, with unfunded liabilities for the ten funds analyzed rising to $32.0 billion from $27.4 billion in FY2010, an increase of 16.7% according to the most…
UPDATE: At its April 24, 2013 meeting, the Chicago Board of Education approved the District’s amended FY2013 capital budget. Original blog published on April 17, 2013 On April 6th Chicago Public Schools (CPS) released its…
This blog examines some of the long-term obligations of the City of Chicago and its overlapping local governments using a per capita indicator based on bonded debt and unfunded pension liabilities. Rating agencies and other financial…
On January 23, 2013, the Chicago Public Schools (CPS) released its Comprehensive Annual Financial Report (CAFR) for the 2012 fiscal year. The fiscal…
A look back at the Civic Federation’s blog this year provides a preview of upcoming fiscal challenges for local governments in 2013. Pension Funding The most urgent fiscal challenge for Illinois governments continues to be the pension…
Last week marked the end of the budget season for the nine local governments monitored by the Civic Federation. These governments include: the City Colleges of Chicago, Chicago Public Schools (CPS), DuPage County, City of Chicago, Cook…
Last week, Chicago Public Schools (CPS) issued an amended FY2013 budget plan based on the new contract agreement between the District and the Chicago Teachers Union (CTU). The revised budget includes an additional $103 million in spending…