11.20.14
The Cook County Clerk’s Office annually releases a tax rate report that provides the tax rates for various taxing agencies within Cook County. It is important for property taxpayers to have an accurate picture of which governments receive their property tax dollars and for what purpose so that...
10.02.14
Chicago-area public employee pension funding levels continued to decline in FY2012, with total unfunded liabilities for the ten funds analyzed rising to $37.2 billion from $32.0 billion in FY2011...
09.17.14
The most basic question about a pension fund is whether its assets are sufficient to cover total liabilities incurred. In this blog post, we examine the aggregate pension liabilities and Other Post Employment Benefit (OPEB) liabilities of ten large local...
07.25.14
CPS is balancing its budget in FY2015 in large part by shifting the time period used to report revenues from 30 to 60 days. This will allow the District to access $648.0 million in revenues that it would not otherwise have been able to use. However, this is a one-time maneuver that cannot be...
07.23.14
The Civic Federation does not support Chicago Public Schools proposed $6.8 billion budget for FY2015. The short-sighted budget does nothing to address the District’s grave fiscal crisis and...
02.28.14
This week, Chicago Public Schools released its FY2013 Comprehensive Annual Financial Report for July 1, 2012 to June 30, 2013. In it, the District reports a year-end FY2013 deficit of $119 million that was closed using fund balance. This is smaller than the $273 million deficit that was...
