Governor Pat Quinn’s proposed FY2012 budget for the State of Illinois features additional borrowing and an overall increase in spending, despite steep spending reductions in the area of human services. The Governor’s FY2012 budget, issued on February 16, 2011, includes total operating resources of $33.9 million and total expenditures of $35.4 billion. In order to close the operating shortfall, the Governor’s plan uses $1.45 billion of the proceeds from a proposed $8.75 billion borrowing in…
Prior to the release of the Governor’s annual budget recommendation the Institute for Illinois’ Fiscal Sustainability at the Civic Federation releases an analysis of the State of Illinois’ fiscal condition and actionable recommendations for the Governor and General Assembly for the coming fiscal year. This year the State of Illinois Budget Roadmap also includes an analysis and recommendations based on Governor Pat Quinn’s preliminary budget plans for FY2011 and three-year budget plan published…
The Civic Federation supports the Metropolitan Water Reclamation District’s FY2011 Tentative Budget of nearly $1.0 billion. The tentative budget is a $681.1 million, or 41.1% decrease over final adjusted FY2010 appropriations. This decline is largely due to decreases in appropriations for the Construction Fund and Capital Improvements Bond Fund. The District plans to reduce Corporate Fund spending by $14.2 million or 4.0% from FY2010 appropriations and raise the property tax levy for tax capped…
CHICAGO — The Civic Federation supports the nearly $1 billion tentative budget proposed by the Metropolitan Water Reclamation District of Greater Chicago (MWRD). The District will reduce staffing levels and Corporate Fund spending as a response to difficult economic conditions. However in a 39-page report released today, the Federation voices concern about the continued decline of the fiscal health of the MWRD pension fund. The total MWRD budget fluctuates from year to year due to changes in…
The Civic Federation supports the Chicago Park District’s FY2011 proposed operating budget of $397.6 million. The District is proposing to hold the property tax levy flat and maintain expenditures at close to FY2010 levels by using operating efficiencies and personnel cuts. The District is also proposing to eliminate its $22.0 million budget deficit in part by using $12.0 million of TIF surplus and $3.0 million of Corporate Fund balance. However, the Civic Federation is concerned about the…
The Chicago Park District is to be commended for holding its property tax levy flat for the sixth straight year, says a Civic Federation report released today. The District will rely on non-tax revenues and a slight cut in staffing levels to balance its proposed FY2011 budget of $397.6 million. While the Federation commends the District’s restraint, it is also concerned that an ongoing reliance on non-recurring revenues may indicate that the District has a structural deficit. The Chicago Park…
This article compares the different statements made by think tank organizations about the extent of Illinois’ fiscal issues. The Civic Federation says that while State employees are not overpaid, they do receive very generous retirement benefits.
The Civic Federation's legislative priorities for 2011 include public pension reform, requiring state government to develop and implement a capital improvement plan, the dissolving of the Illinois International Port District, creating a new governing board for the Cook County Forest Preserve District, reinstating means-tested transit discounts for seniors, requiring large counties to hold budget hearings and produce timely annual audits, enacting tax increment financing reporting reform,…
After experiencing several years of poor market conditions, three of the five Illinois State employee retirement funds have reduced their expected rate of return on investments. This rate, also known as the discount rate, is used to calculate the present value of the future obligations of the systems. Although the reductions were small, one percentage point or less, the move triggers a substantial increase in the present value of the commitments made by the State to its employees and…
The Civic Federation opposes the proposed FY2011 City of Chicago budget of nearly $6.2 billion because it does not effectively address the structural deficit and relies too heavily on asset lease reserve funds and debt restructuring to close the $654.8 million budget deficit. The proposed budget would defer costs and postpone changes needed to align current year expenditures with recurring revenues. Click here to read the press release for this analysis.
