11.08.13
On October 25, 2013, Moody’s Investors Service downgraded the CTA’s bond rating to A1 from Aa3 and lowered its outlook to negative from stable. This makes it the...
Library
09.18.13
The Civic Federation released its analysis of the FY2010 DuPage County budget yesterday. In it the Federation announced its support for the County’s proposed financial plan due in large part to the County’s ability to maintain operation of its core programs while reducing its property tax levy...
09.06.13
Earlier this spring the Civic Federation opposed the $26 billion capital plan proposed by Governor Quinn because it was unaffordable over time and was not based on a capital...
09.06.13
09.05.13
The Governor’s office recently published its first official document that included details of the revenues and expenditures approved by the General Assembly for FY2010 fiscal year. The Official Statement accompanying the sale of $1.25 billion in short term debt on August 20, 2009 includes new...
09.03.13
A new study from the Rockefeller Institute of Government in Albany, New York reports that total state tax collections for the first quarter of 2009 declined by 11.8% from the same quarter last year...
01.02.13
While the Civic Federation traditionally analyzes features common to all local government budgets, our analyses of the Chicago Transit Authority’s (CTA) budgets...
06.27.12
This week the Civic Federation released its annual Status of Local Pension Funding report. This report reviews fiscal year 2010 actuarial valuation reports and financial statements of the retirement funds. [1] The purpose of this report is to...
06.25.12
This report examines the sharp financial decline of Chicago-area public employee pension funds and emphasizes the urgency of pension reform efforts in Springfield. It is intended to provide...
05.30.12
This blog continues the Civic Federation’s examination of indicators that can be used to assess the financial health of local governments. The Federation is working on a project comparing the City of Chicago with a group of thirteen large U.S. cities that have also been the subject of...