Click here to read the full report. The Civic Federation’s Institute for Illinois’ Fiscal Sustainability is not able to support Governor Bruce Rauner’s recommended FY2019 budget because it is precariously balanced and its modest surplus relies on aggressive assumptions. Additionally, the proposal does little to address Illinois’ massive backlog of bills. While the Civic Federation is encouraged by the improved financial condition of the State, Illinois still faces severe fiscal problems,…
The Civic Federation has long supported the development of a consensus revenue forecast for the State of Illinois. Public finance experts recommend that the executive and legislative branches reach agreement on a revenue forecast prior to the publication of the Governor’s annual budget to help ensure the review of critical assumptions, remove the forecast from ongoing dispute and keep the budget process on track. It is technically too late to implement that process for the 2019 budget year,…
On April 5, 2018 the City Colleges of Chicago Board of Trustees unanimously approved Board Resolution 33420, which changes the tuition rate from a tier-based rate structure to a hybrid tuition rate structure. Beginning with the summer 2018 semester, part-time students enrolled in fewer than 12 credit hours will be charged on a per-credit hour based rate structure and full-time students enrolled in 12 credit hours or more of coursework will continue to pay a flat rate. The new tuition structure…
This article discusses the impact Illinois' gubernatorial election may have on the State's fiscal crisis, noting that the election's victor will have to address a $9 billion bill backlog, $129 billion in unfunded pension liabilities and a credit rating one step above junk. Civic Federation President Laurence Msall called the election "pivotal" and stressed that the next Governor of Illinois will be tasked with determining the best financial path forward.
Amid concerns about renewed political stalemate in Springfield, Illinois Governor Bruce Rauner on February 14, 2018 proposed a budget for the next fiscal year that relies on shifting State pension and health insurance costs to school districts and public employees. The budget recommendation for fiscal year 2019 also requires public universities and community colleges to pick up additional pension and healthcare costs. However, many of those costs would be offset by increased funding—at least…
Illinois Governor Bruce Rauner presented his annual budget address on February 14, 2018, outlining his budget proposal for the State fiscal year 2019. The 2019 fiscal year begins on July 1, 2018 and ends June 30, 2019. The Civic Federation will release a full analysis of the Governor’s proposal in the coming months. This blog will focus on two key elements of the Governor’s budget proposal that will most significantly impact local governments and the State’s higher education institutions.…
Multiple Outlets The following news items cover the release of the Institute for Illinois' Fiscal Sustainability at the Civic Federation's State of Illinois FY2019 Budget Roadmap, which proposes a comprehensive multi-year plan to address the State's ongoing financial crisis and balance the State's budget. ----- Politico Illinois Playbook: CIVIC FED's reality check Chicago Sun-Times: EDITORIAL: A reminder of how fixing problems in Illinois is supposed to…
(CHICAGO) – In a report released today, the Civic Federation’s Institute for Illinois’ Fiscal Sustainability proposes a comprehensive five-year plan to stabilize the State’s finances. The Federation’s proposal would eliminate the State’s operating deficit in FY2019 and clear the multi-billion-dollar backlog of bills by FY2023, allowing the State to begin building a rainy day fund to protect against future financial shocks. The full report is available here. While Illinois has ended its…
Click here to read the full report. 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. This report presents the Civic Federation’s multi-year plan to stabilize Illinois’ finances and balance the State's budget. While Illinois has ended its devastating two-year budget impasse, the enactment of a revenue and spending plan for FY2018…
2018 Civic Federation Legislative Priorities The Civic Federation's legislative priorities for 2018 include public employee pension reforms, consolidation of local government units in Illinois, enacting policies to rationalize the property tax system, creation of a Local Government Protection Authority, requiring the State of Illinois to build a rainy day fund, development and implementation of a capital improvement plan, among others. …
