Recent decisions by two of the largest State of Illinois retirement systems are expected to result in significant increases to statutorily required pension contributions in the upcoming budget year. This blog post discusses the decisions…
Despite a stopgap spending measure enacted on June 30, 2016, State of Illinois appropriations for higher education remain below expenditures in…
After a yearlong stalemate, the State of Illinois finally saw a crack in its ongoing budget impasse on the last day of the fiscal year. The General Assembly rushed approval of bills authorizing a full year of preschool through high school…
In advance of a $550 million bond sale this week, the State of Illinois announced it had negotiated new terms with the largest holder of Illinois swaps. The new lower level for termination of the swaps based on Illinois’ credit ratings…
With the current year’s budget still incomplete, the State of Illinois is now facing the prospect of starting another year without a financial plan. Due to a political dispute between Illinois’ Republican Governor and Democratic…
The State of Illinois can add another complication to its already stressed financial condition, an $800.7 million shortfall in its capital spending plan caused by failure in several of the dedicated revenue sources enacted to fund debt…
The Civic Federation is unable to support Governor Rauner’s recommended budget for FY2017 because it has an operating deficit of at least $3.5 billion and presents an insufficiently detailed plan for closing the gap. According to the…
The State of Illinois’ budget impasse could cost taxpayers another $138 million due to liabilities associated with its swaps portfolio, if the lack of a spending plan causes its bond ratings to fall much further. As previously…
The Civic Federation co-hosted a conference with the Federal Reserve Bank of Chicago on April 4, 2016 entitled, “Medicaid Expansion and the Affordable Care Act: A Fiscal Checkup.” Experts, practitioners and academics from around the…
