12.23.15
The following were among the most highly read posts provided by the Institute for Illinois’ Fiscal Sustainability in 2015. Understandably, they represent the most closely followed Illinois fiscal issue of the year: the ongoing state budget impasse. The posts have been listed in...
12.03.15
As Illinois enters the sixth month of fiscal year 2016 without a budget, the backlog of unpaid group health insurance bills has reached more than $2 billion and is likely to grow much larger.
In the...
12.02.15
The Civic Federation supports the Chicago Park District’s proposed FY2016 operating budget of $458.1 million that reduces the District’s reliance on one-time revenue sources and...
11.25.15
In the absence of a budget for FY2016, the State of Illinois is moving forward with a plan to issue debt through the Illinois Finance Authority to fund some essential operating expenses.
However, the loans could cost the State millions in interest...
11.11.15
The State of Illinois’ contributions to its five pension funds will rise by $288.8 million to $7.8 billion in the next budget year, according to preliminary estimates by the retirement systems.
The proposed 3.8% increase will add to the State’s budgetary pressures in the year that begins...
10.30.15
Two of the three major rating agencies have cut the State of Illinois’ bond ratings due to its ongoing budget crisis and worsening financial condition. These downgrades make Illinois the only state credit currently rated below the ‘A’ category and signal a weakened capacity for the government to...
10.15.15
With Illinois operating without a budget for more than three months, concerns have arisen about whether the State is going to run out of money .
The simple answer is no—at...
10.07.15
On September 22, 2015, Mayor Rahm Emanuel released the City of Chicago FY2016 Budget, which includes a nearly $1.3 billion property tax levy, an increase of $427.7 million over the originally adopted FY2015 budget. The property tax levy would be dedicated to the Police and Fire pension funds. In...
09.25.15
Revenue collected by the State of Illinois from the largest two areas of legal gaming in the State, riverboat casinos and lottery, both declined significantly in fiscal year 2015 while the State’s more recently implemented video gaming continued to grow. However, unlike previous years the gains...
09.17.15
On September 9, 2015, the Cook County Board of Commissioners approved the preliminary budget of the County’s public health system for the...
