The Civic Federation opposes the proposed FY2011 City of Chicago budget of nearly $6.2 billion because it does not effectively address the structural deficit and relies too heavily on asset lease reserve funds and debt restructuring to close the $654.8 million budget deficit. The proposed budget would defer costs and postpone changes needed to align current year expenditures with recurring revenues. Click here to read the press release for this analysis.
The Civic Federation announced today that it opposes the $6.2 billion FY2011 City of Chicago budget because it does not do enough to address the City’s structural deficit. Instead it relies upon long-term asset lease funds and other non-recurring revenues to close a $654.8 million shortfall. The Federation urges the City Council to reduce spending to avoid further deterioration of the City’s financial condition. The full 80-plus page analysis of the budget is available at www.civicfed.org. The…
In this blog post, Greg Hinz examines some of the recommendations in the Civic Federation’s Cook County Modernization Report.
This news segment is about a proposal floated by Chicago Alderman Ricardo Munoz to give companies based in the City of Chicago priority on City contracts. Civic Federation President Laurence Msall says the plan could prove illegal if state or federal funds are involved.
This segment of the “Chicago Tonight” news program features a roundtable discussion with the three candidates for Cook County Board President. The candidates discuss recommendations made by the Civic Federation’s Cook County Modernization Report.
On Monday the Civic Federation released the Cook County Modernization Report, which provided leaders of Cook County with ideas for improving and reshaping county government. Cook County government provides three major public services: a comprehensive public health system; a judicial system including law enforcement and the State’s Attorney’s Office; and tax administration and official records including birth, death, and marriage. The County’s ability to continue to provide these services in the…
The Civic Federation supports the Chicago Transit Authority’s (CTA) proposed FY2011 budget of $1.3 billion but has significant concerns for the agency in the longer term. The budget is a 5.2% or $66.7 million increase from the adopted FY2010 budget of $1.2 billion. The proposed FY2011 budget maintains the current level of transit service for the Chicagoland area. However, it is precariously balanced on $83.0 million in anticipated payments from the State which have not yet…
Group Retains Concerns about Use of Capital Funds to Balance Budget The Civic Federation announced today that it supports the FY2011 Chicago Transit Authority proposed budget of $1.3 billion because it implements efficiencies and cost-cutting measures while maintaining current service levels. However, the Federation retains significant concerns about the System’s future fiscal stability. The full budget analysis is available on the Civic Federation website at www.civicfed.org. The CTA proposes…
Civic Federation Supports FY2011 Budget, Urges More Complete Planning Process Citing DuPage County’s plan to cut expenditures by 3.0% while pledging to maintain core services, the Civic Federation announced today that it supports the $459.4 million proposed FY2011 budget. However, the Federation warned that the County will need to improve its financial planning process to prepare for an uncertain future. Like many governments, DuPage County predicts continued declines in its economically…
The Civic Federation supports the DuPage County FY2011 proposed operating budget of $459.4 million. The County is reducing operating expenditures for the second year in a row while pledging to maintain the existing level of service and keep the property tax levy at roughly the same level as last year. Going forward the County needs to plan for a continued decline in economically sensitive revenues and projected increases in personnel expenses. In order to properly plan for the uncertain…
