The following are the five most read blog posts presented by the Institute for Illinois’ Fiscal Sustainability in 2017. These posts discuss issues ranging from Medicaid expansion to the end of Illinois’ historic two-year budget impasse and related legislation. A Review of Medicaid Expansion in Illinois under the Affordable Care Act January 12, 2017 Medicaid expansion was a key feature of the Affordable Care Act (ACA), designed to reduce the number of people without health insurance. While…
Click here to read the full report. The Civic Federation opposes CTA's proposed FY2018 budget because it relies on overly optimistic projections of restored funding from the State of Illinois and embarks on a dangerous path of borrowing for operational expenses to close the prior year shortfall. As an alternative path to generate additional revenue, balance the budget and maintain service levels, the Civic Federation recommends implementing increased fares on el trains and express buses…
Click here to read the full report. The Civic Federation supports the Metropolitan Water Reclamation District’s Tentative FY2018 budget of $1.13 billion because it continues to control operating expenses and maintains financial safeguards, including substantial reserves, to cover shortfalls or financial emergencies. As detailed in the report, the District’s FY2018 budget proposal continues to make increased contributions to the pension fund and to the retiree healthcare trust fund. The…
In an analysis released today, the Civic Federation announced its support for the Chicago Park District’s proposed FY2018 operating budget of $462.3 million. The proposed budget reduces the District’s reliance on prior year fund balance, implements savings and efficiencies and reduces the size of the District’s workforce. At the same time, the District plans to increase the level of funding to its pension plan. The full analysis is available here. As detailed in the report, the Federation…
This article discusses the recent release of a Civic Federation report that calls on Cook County criminal justice officials to more fully disclose critical criminal justice data. According to the report, increased transparency will enable the public to have better informed discussions about criminal justice and the effective use of taxpayer dollars, ultimately empowering taxpayers to hold government officials more accountable. Additional Coverage: Crain's Chicago Business: Watchdog: Quit…
Financial Impact of Recent Decline in Jail Population Remains Elusive (CHICAGO) In a report released today, the Civic Federation called on Cook County’s Chief Judge and Sheriff to follow the practices of other large metropolitan jurisdictions in more fully disclosing information about Cook County’s bond court and jail population. According to the report, increased transparency will enable the public to have better informed discussions about criminal justice and the effective use of taxpayer…
Click here to read the full report. Across the political spectrum in the United States, there is a growing consensus that too many people are locked up in jail because they do not have the money required for release. This report examines recent efforts to reduce the number of detainees in Cook County Jail by reforming practices in and around bond court and includes recommendations for improving data accessibility and coordination among the various agencies that make up the…
The financial condition of Illinois’ pension funds improved slightly due to strong investment returns, but they remained critically underfunded at the end of fiscal year 2017. The five State-funded retirement systems had total unfunded liability of $129.1 billion as of June 30, 2017, based on the market value of assets, and a combined funded ratio of 39.8%. That compares with unfunded liability of $129.8 billion and a funded ratio of 37.6% a year earlier. Unfunded liability is the pension…
Click here to read the full report. The Civic Federation supports the proposed FY2018 City of Chicago budget of $8.6 billion because it continues to work toward stabilizing the City’s finances, puts its four pension funds on a path toward solvency and works to incorporate short-term capital expenses into the operating budget rather than funding them through borrowing. The budget also proposes reforms and efficiencies aimed at improving city operations and reducing growing expenditures…
(CHICAGO) – In a report released today, the Civic Federation announced its support for the City of Chicago’s proposed FY2018 budget of approximately $8.6 billion. The FY2018 budget proposal continues to work toward stabilizing the City’s finances, puts its four pension funds on a path toward solvency and works to incorporate short-term capital expenses into the operating budget rather than funding them through borrowing. The full analysis is available at here. “This year’s budget proposal is…
