The State of Illinois’ new fiscal year began on July 1, 2015 without an annual budget and with no clear end in sight to the impasse between Governor Bruce Rauner and the General Assembly. On July 9, the legislature was widely expected to send the Governor a stopgap budget designed to fund essential State operations for one month. However, that effort stalled amid a partisan dispute about paying for State workers’ salaries. This blog post reviews the circumstances leading up to the current…
This article discusses a shift by City Colleges of Chicago to a flat-rate tuition structure that would take effect as of the fall 2015 semester. It cites the Civic Federation’s FY2016 Analysis of the City Colleges of Chicago’s proposed budget, which commended the District for avoiding a property tax increase but expressed concern that students weren’t notified of the tuition changes until after registration for classes was opened.
This radio segment reviews the new flat-rate tuition structure being introduced by City Colleges of Chicago ahead of the fall 2015 school year. The Civic Federation said in its City Colleges FY2016 Budget Analysis that the District was right to show restraint in asking for more property tax revenue, but the size of the tuition increase could precipitate a larger than projected decline in future enrollment.
Proposal Holds Property Tax Levy Flat and Introduces Flat-Rate Tuition Structure In an analysis released today, the Civic Federation supports the City Colleges of Chicago’s proposed FY2016 operating budget of $695.6 million because it continues to minimize the financial burden placed on taxpayers by avoiding a property tax increase at a time when other local governments in Chicago are facing financial crises that will likely result in significant demands for increasing the City’s overall…
The Civic Federation supports the City Colleges tentative FY2016 budget totaling $695.6 million because it continues to minimize the financial burden placed on taxpayers by avoiding a property tax increase at a time when other local governments in Chicago are facing financial crises that will likely result in significant demands for increasing the City’s overall property tax burden. The budget also holds the District’s gross property tax levy relatively flat for the sixth consecutive year.…
This article discusses the potential for Chicago residents to see a significant property tax increase, due to the intensifying financial challenges facing the City of Chicago and Chicago Public Schools. The Civic Federation said new revenue will have to be part the solution for both governments.
This segment covers the severe budget challenges facing Chicago Public Schools that were further exacerbated following a $634 million pension payment made June 30. The Civic Federation said CPS has been facing a structural deficit for years and has relied on accounting gimmicks to balance its budget.
This segment covers the $634 million pension payment made in full by Chicago Public Schools on June 30, which put added pressure on District’s already precarious financial status. Civic Federation Vice President Sarah Wetmore said the District has difficult choices ahead and solutions will require shared sacrifice.
This segment covers a community forum in which certain Illinois legislators said the State has more options for increasing revenue. Senator Pat McGuire cited the Civic Federation’s FY2016 State of Illinois Recommended Budget Analysis, which suggests expanding the sales tax on services and taxing non-social security retirement income above $50,000, among other recommendations.
This article discusses the difficult financial choices Chicago Public Schools is facing as it approaches a $634 million pension payment due June 30 and a $1.1 billion deficit for the fiscal year beginning July 1. The Civic Federation said if the District fails to make the full payment it could be subject to more credit downgrades.
