This report provides estimates of the total market value of real property in Cook County from 1996-2005 and shows how property value is spread among the City of Chicago, the northern and the southern suburbs. From 1996-2005, the value of Cook County real estate more than doubled, from $261 billion to $584 billion.
The Civic Federation gives qualified support to the Chicago Public Schools Recommended 5.8 billion dollar FY2008 operating budget. The District has made efforts to contain costs and improve budget transparency. However, the Civic Federation's support is based on the District's pledge to develop publicly-available long-term planning processes and documents next year. The Civic Federation also urges the District to reduce its property tax levy by 32 million dollars in response to unexpected…
This report explains the laws and funding mechanisms applicable to charter schools in Illinois and investigates how Illinois charter schools affect the finances of their host school districts. It includes three in-depth case studies of Illinois charter schools and their host districts, as well asa legislative history of charter school law in Illinois and a review of national research on charter schools. . It finds that Illinois charter schools do not constitute an undue financial burden for…
The Civic Federation supports the City Colleges of Chicago's tentative $473.6 million FY2008 budget because the district will reduce its overall property tax burden, exercize fiscal restraint, and has increased the amount of time allowed for public comment and review. The Federation is concerned, however, that the budget does not contain current personnel or enrollment projections and predicts significant operating deficits by 2010.
CIVIC FEDERATION COMMENDS CITY COLLEGES LEADERSHIP FOR FISCAL RESTRAINT District to Reduce Overall Property Tax Burden 7.8% in FY2008 The Civic Federation will announce its support of the $473.6 million FY2008 City Colleges of Chicago budget at the district’s public hearing on Tuesday, July 17th at 9:00 a.m. The Federation approves of the budget because the district has reduced its property tax burden and exercised fiscal restraint. At a time when most governments in northeastern Illinois…
The Civic Federation opposes the massive expansion of health care and long-term borrowing proposed in the FY2008 State budget recommendation, but offers qualified support for sale/lease of the State lottery and for reasonable revenue enhancements to fund education and mass transit. The Federation also urges the General Assembly to implement pension benefit reforms.
This report reviews the features and costs of the current State of Illinois employee group health insurance program, examines the fiscal impact of the program on the State operating budget, and makes policy recommendations for containing the program's rising costs.
This report compares Illinois school districts' financial management and accountability standards with nationwide best practices, and makes policy recommendations regarding steps Illinois should take to ensure greater financial accountability from school districts.
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 2005. It finds a combined 16.5 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.
This issue brief describes dedicated revenue sources for state pension funds and recent proposals for dedicated revenue sources in Illinois. It then discusses important features of an effective dedicated pension revenue source.
