10.03.12
Trend analysis performed by the Civic Federation shows that the funded status of the Cook County Pension Fund fell again in fiscal year 2011, the most recent year for which data are available. The actuarial funded ratio for the County pension fund fell to 57.5% in FY2011 from 77.3% in FY2007....
09.05.12
Earlier this year, the Civic Federation published a blog describing the recent changes to the standards for how governments report fund balance. Fund balance is a term commonly used to describe the net assets of...
06.29.12
Despite increased revenues from higher income tax rates and a slight improvement in tax receipts due to...
04.18.12
Last week, Cook County Board President Toni Preckwinkle announced two alternative service delivery initiatives: 1) managed competition for County...
03.01.12
With new attention being paid to the cost of the State of Illinois’ Medicaid program, it seems logical to ask why the total annual costs of the program are not reflected in the State...
01.26.12
In order to address sometimes inconsistent application of reporting standards for fund balance by governments, the Governmental Accounting Standards Board (GASB) issued GASB Statement No. 54: Fund Balance Reporting and Governmental Fund Type...
01.20.12
Six months after the end of the last fiscal year, the Illinois State Comptroller is reporting that $5.2 billion of FY2012 revenues were needed to pay off the State’s bills from...
