05.21.13
Chicago-area public employee pension funding levels dropped significantly in FY2011, with unfunded liabilities for the ten funds analyzed rising to $32.0 billion from $27.4 billion in FY2010, an...
Library
05.17.13
Many cash-strapped states are looking to a proposal in the U.S. Congress to help collect sales taxes on internet purchases. The legislation could lead to a windfall in recaptured state sales tax revenues but currently would exclude Illinois.
The U.S. House of Representatives and the U.S...
05.15.13
The Civic Federation’s Annual Civic Awards Luncheon on Tuesday, June 11, 2013 will celebrate two honorees who exemplify the high standard of civic commitment that has come to define the City of Chicago, Harrison I. Steans and Motorola Solutions. The awards are named in honor of the...
05.13.13
The Civic Federation supports Governor Pat Quinn’s $62.4 billion FY2014 recommended operating budget for balancing revenues and expenditures without borrowing and making progress toward...
05.10.13
The Illinois Department of Revenue has announced that the final equalization factor for the Cook County 2012 property assessment year (taxes payable in 2013) is 2.8056.
The 2012 final equalization...
05.09.13
A union-backed pension reform proposal sponsored by Senate President John Cullerton was passed by the Senate on May 9, 2013 by a vote of 40 to 16.
Senate President Cullerton believes that Senate Bill 2404 is a...
05.02.13
On Monday April 29th, Mayor Rahm Emanuel announced that an agreement had been reached in the disputes between the City of Chicago and Chicago Parking Meters LLC (CPM),...
05.01.13
UPDATE:
On May 2, 2013, the House passed Speaker Michael Madigan’s pension reform proposal by a vote of 62 to 51. During the debate on the House floor, Speaker Madigan said that the changes are expected to reduce the State’s required contribution in FY2015 by $1.5 billion...
04.25.13
An important first step in preparing a government budget is the preparation and publication of revenue estimates for the upcoming fiscal year. The estimates provide the basis for the spending decisions that are subsequently incorporated into the budget.
Under Illinois law, the...
04.25.13
This blog reviews the 2012 4th Quarter STAR (Set Targets Achieve Results) report for Cook County’s performance management program. The blog compares FY2012...