City of Chicago Mayor Rahm Emanuel’s budget plans to close a $635.7 million budget gap are the focus of this article. The Civic Federation says the budget proposal avoids short-term solutions that would worsen the City’s long-term fiscal outlook.
This article examines City of Chicago Mayor Rahm Emanuel’s preliminary FY2012 budget plans, which includes a 5.4 percent reduction in spending. The Civic Federation says the cuts would be the most significant in over a decade, but adds that more remains for Mayor Emanuel to do to restore the City’s fiscal stability.
In this article about the City of Chicago’s budget proposal for FY2012, the Civic Federation says the proposal may help guide the City toward better financial footing.
On Wednesday October 12th, Mayor Emanuel will release his first budget recommendations for the City of Chicago. With a reported FY2012 budget gap of $635.7 million to close in the Corporate Fund, the proposed budget is likely to address costs in the largest component of the City’s operating budget: public safety. With regard to dollars appropriated, personnel expenditures and workforce size, the largest portion of the City of Chicago’s budget is dedicated to the Police Department, Fire…
The State of Illinois will take public testimony this week on the goals, priorities and performance measures that are being developed as part of an ongoing effort to reform the State’s annual budget process. As previously described here, the State began a process known as Budgeting for Results in the fall of 2010 in preparation for the FY2012 budget. Under the statutory requirements passed as part of the FY2011 budget, a Budgeting for Results Commission was formed to advise the Governor in…
This news segment discusses the Civic Federation’s financial analysis of the Chicago charter schools. The report found that the schools as a group were in good financial shape, but there were some concerns about the long-term fiscal sustainability of some schools.
This article discusses the Civic Federation’s analysis of Chicago charter schools. The study found that most of the schools were in good financial health during 2007 and 2008 study period and that, as a group, Chicago charter schools abided by many fiscal best practices.
This editorial about the recent increase in the State of Illinois income tax discusses findings in IIFS’ analysis of the State’s FY2012 enacted budget, one of which included the discovery that debt and pension fund service for next year will total $5.8 billion.
The Illinois General Assembly’s Commission on Government Forecasting and Accountability (COGFA) began holding public hearings on October 5, 2011 on Governor Quinn’s proposal to close seven state facilities. COGFA is required under the State Facilities Closure Act (30 ILCS 608) to hold public hearings on the proposed closing of prisons, youth centers and centers for the mentally ill and developmentally disabled. The Act also requires COGFA to issue an advisory opinion on each proposed closure.…
On October 4, 2011 the Civic Federation released an independent analysis of Chicago charter school finances. The 170-page report, which is the first of a two-part study supported by the Searle Funds at The Chicago Community Trust, examined the publicly available budgets and audited financial statements of all Chicago charter schools in operation during FY2007 and 2008, measured how well the schools performed against key standards of fiscal accountability and evaluated their revenues and…
