10.18.11
The pension crisis at the City of Chicago is severe. As described here , the City faces two distinct pension crises: two of its four funds are expected to run out of money by the year 2030...
Library
10.11.11
On Wednesday October 12 th , Mayor Emanuel will release his first budget recommendations for the City of Chicago. With a reported FY2012 budget gap of $635.7 million to close in the Corporate Fund, the proposed budget is likely to address costs in the largest component of the City’s...
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...
10.06.11
The Illinois General Assembly’s Commission on Government Forecasting and Accountability (COGFA) began holding public hearings on October 5, 2011 on Governor Quinn’s proposal to close seven state facilities....
10.05.11
On October 4, 2011 the Civic Federation released an independent analysis of Chicago charter school finances . The 170-page report, which is the first of a two-...
10.04.11
This 170-page report is a comprehensive examination of Chicago charter school finances and financial performance in fiscal years 2007 and 2008. The primary purpose is to provide a first-ever...
09.30.11
Entering the third year of the Illinois Jobs Now! capital program, the State’s capital revenue sources are still well below the anticipated debt coverage needed to pay for the more than $16 billion in bond funded projects already approved.
In July 2009, along with a...
09.28.11
Cook County’s fiscal year begins on December 1 and ends on November 30. The Civic Federation believes that all governments should adopt a budget at least one month in advance of the start of the fiscal year. For the County, that would be a November 1 budget adoption. In addition, the...
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...
09.22.11
The Illinois State Comptroller’s Office recently issued its annual report on tax expenditures. The report is published pursuant to a provision of the State Comptroller Act (15 ILCS 405/...