09.20.12
Reflecting severe financial pressures, the State of Illinois pushed an estimated $3.6 billion of Medicaid and group health insurance bills from FY2012 into the current fiscal year.
The new estimate is based on documents ...
Library
09.19.12
Since 1988, the City of Chicago and its four pension funds have been party to the settlement of City of Chicago v. Korshak regarding how...
09.12.12
Yesterday, DuPage County Board Chairman Dan Cronin presented the DuPage County Proposed FY2013 Financial Plan to the County Board. DuPage County’s current fiscal year ends on November 30, 2012; the new 2013 fiscal year begins on December...
09.06.12
Although the State of Illinois is still burdened with a multibillion-dollar backlog of unpaid bills , one component of that backlog—unpaid income tax...
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...
08.31.12
The State of Illinois’ bond rating was reduced again this week but despite being one of the lowest rated state credits it remains well above the level assigned to speculative debt.
On August 29, 2012 Standard & Poor’s (S&P) reduced the State’s long-term General...
08.28.12
UPDATE: Cook County has received federal approval for a Medicaid expansion plan that is projected to bring in $99 million in net revenues in FY2013 and is a key component of the County’s FY2013 budget.
The approval,...
08.24.12
The State’s largest retirement system postponed until September a decision on whether to reduce the system’s assumed rate of return on investment — a decision that could result in an increase in the annual State contribution required by law.
As discussed...
08.23.12
08.23.12
On July 19, 2012, the Civic Federation released its analysis of the proposed FY2013 budget for Chicago Public Schools (CPS) in anticipation of the Board of Education’s vote on the budget scheduled for the following week. However, two days...