11.20.12
UPDATE:
House Bill 6253 , which would lift the Illinois moratorium on Medicaid expansion for those who will be eligible under national...
Library
10.31.12
The State of Illinois needs to contribute a total of $6.8 billion to its five retirement systems in FY2014 to meet statutory funding requirements, according to recent recommendations by the five systems.
The proposed total FY2014 contribution amount is $964.7 million, or 16.4%, more than...
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...
02.03.12
The State of Illinois FY2013 Budget Roadmap , issued on January 30, 2012 by the Civic Federation’s Institute for Illinois’ Fiscal Sustainability, relies on a five-year budget analysis by the Illinois Department of Healthcare...
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...