11.21.19
Now that the Cook County Forest Preserve District’s $124.7 million budget has been approved without the help of a referendum to increase property tax revenue , Forest Preserve...
Library
09.13.19
In the State of Illinois, non-home rule units of government located in counties subject to the Property Tax Extension Limitation Law (PTELL) are limited in the size of their annual property tax extension to 5% or the increase in the Consumer Price Index (CPI), whichever is less. However, the...
06.23.16
In April 2016, the Illinois Department of Revenue announced that it discovered a misallocation totaling an estimated $168 million in extra Personal Property Replacement Taxes (PPRT)...
12.18.15
FY2016 Budget Season Summary
December 3, 2015 marked the end of the budget season for the eight local governments monitored by the Civic Federation. These governments include: the City Colleges of...
02.12.15
The Civic Federation’s previous blog examined the long-term debt of eight major local governments in northeastern Illinois.
This blog explores the unfunded pension liabilities of...
02.03.15
The Civic Federation regularly analyzes and comments on the budgets and audited financial statements of eight major local governments in northeastern Illinois:
1....
12.30.14
The following posts were among the most highly read on the Civic Federation blog in 2014 and represent some of the most closely followed local government issues this year:
Illinois...
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...
08.26.14
The difference between a pension fund’s assets and accrued liabilities is known as the unfunded liability . The unfunded actuarial accrued liability (UAAL) is calculated by subtracting the actuarial value of...
05.28.14
On May 28, 2014, The Civic Federation sent this letter to Representitive Elaine Nekritz and the members of the House Personnel and Pensions Committee in advance of a 4 p.m. hearing on House Bill 1154 . The Civic...