12.22.11
In the past two years, nine states have passed laws to reduce automatic annual increases in pension benefits for current retirees. The latest example is Rhode Island , which in November 2011 enacted legislation to suspend...
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11.21.11
The State of Illinois’ statutorily required contributions to its five retirement systems will be $535.0 million higher than expected in FY2013, partly due to the impact of a pension reform law enacted in 2010.
Required FY2013 state contributions to the five systems had been...
11.17.11
The State of Illinois’ 44 regional school superintendents’ offices, which were slated for elimination in Governor Pat Quinn’s FY2012 budget recommendation, have been granted a reprieve—at least for one year.
In presenting his proposed FY2012 budget to the General...
10.10.11
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...
09.26.11
This report examines the State of Illinois’ operating and capital budgets as enacted for Fiscal Year 2012, which began on July 1, 2011 and ends on June 30, 2012. Despite a major income tax...
09.15.11
Largely due to the income tax increase that took effect in January 2011, the State of Illinois’ operating deficit is expected to shrink from $3.9 billion in FY2011 to $454 million in FY2012. However, as previously...
05.09.11
The Civic Federation opposes Governor Pat Quinn’s $52.7 billion FY2012 recommended operating budget for the State of Illinois because it is unbalanced by approximately $2.4 billion and is...
03.24.11
After three years of increasing budget deficits, the State of Illinois is expected to see a smaller budget gap at the end of FY2011 because of tax increases and expanded borrowing for operations.
The FY2011 year-end deficit is currently projected to total $4.4 billion, according to Civic...
02.17.11
Governor Pat Quinn’s proposed FY2012 budget for the State of Illinois features additional borrowing and an overall increase in spending, despite steep spending reductions in the area of human services.
The Governor’s FY2012...
02.15.11
Prior to the release of the Governor’s annual budget recommendation the Institute for Illinois’ Fiscal Sustainability at the Civic Federation releases an analysis of the State of...