This report provides a trend analysis of indicators that measure the financial health and performance of ten major local government pension funds from 1997 to 2006. It finds a combined 18.3 billion dollars in unfunded liabilities for the ten funds, and makes numerous recommendations on legislative actions that should be taken to slow the downward spiral of pension underfunding.
Citing a combination of exemplary long-range planning and restraint in its property tax levy, the Civic Federation announced its support for the Metropolitan Water Reclamation District’s tentative FY2008 budget of $1.4 billion. The Federation’s complete budget analysis, including detailed findings and recommendations, is available on our website, www.civicfed.org. The MWRD proposes a fiscally responsible budget that controls costs and minimizes the burden on property taxpayers. In contrast to…
The Civic Federation supports the MWRD's FY2008 Budget because it minimizes the burden on taxpayers and demonstrates sound financial planning techniques. The Civic Federation is concerned about the declining funded ratio of the MWRD pension fund and recommends a number of measures to improve the fiscal health of the plan.
The Civic Federation supports the work of the Cook County Bureau of Health Services Review Committee and the Task Force on Independent Governance of the Cook County Bureau of Health on establishing an independent governing board for the Cook County Bureau of Health Services. The Federation offers a number of specific recommendations regarding the role and responsibilities of an independent board.
The Civic Federation supported the Chicago Park District's FY2008 Budget because the District did not raise its property tax levy this year, and has continued to hold down operating costs through a combination of careful management practices, privatization of services, and public-private partnerships. However, the Federation is concerned about the decline in health of the District's pension fund and recommends a variety of pension reforms.
CIVIC FEDERATION APPLAUDS PARK DISTRICT’S TAXING RESTRAINT Supports Rare “Good News” Budget for Overburdened Chicago Taxpayers In a year when far too many governments in the Chicago region have proposed huge tax increases, the Chicago Park District has held the line on its property tax levy and responsibly contained spending. For these reasons, the Civic Federation supports the district’s proposed FY2008 budget of $396.9 million. The Federation’s complete budget analysis, including detailed…
The Civic Federation supports DuPage County's proposed FY2008 $420.4 million budget, which includes a 12.1% or $60.1 million decrease in spending over the previous year and calls for the elimination of 10% of the workforce or 241 full-time positions, including 168 positions in public safety. The Federation's support is due to the County's established record of managing its existing resources and responsibly living within the means its citizens provide. The Federation recommends that DuPage…
DuPage County faces serious fiscal challenges that have left it with no responsible choice but to make deep spending cuts next year, the Civic Federation found in its analysis of the $480.5 million recommended county budget. The full report, including complete findings and recommendations, will be released today on the Federation’s website, www.civicfed.org. The proposed FY2008 budget includes a 12.1%, $60.1 million decrease in spending. It also calls for the elimination of 10% of the workforce…
The Civic Federation supports Tax Increment Financing as an economic development tool but recommends that there be much greater transparency in the quantity and quality of TIF information provided to the public. The Federation recommends including full financial information about TIF in all municipal budgets, making TIF information easily accessible on the internet, and undertaking a comprehensive review of each TIF district every ten years. This position statement is a companion report to…
This report explains the impact of TIF on taxpayers and local governments in Illinois. It also reviews the TIF designation process, recent empirical research on TIF, and provides detailed information on selected City of Chicago TIF Districts. It is a companion report to the Civic Federation Position Statement on TIF.
