10.03.13
This analysis of the State of Illinois’ Fiscal Year 2014 Enacted Budget finds that the budget may represent a high-water mark, with future years bringing sharp reductions in revenues and...
Library
09.30.13
The State of Illinois does not currently have a comprehensive policy on economic development incentives. Instead, the State offers a wide variety of financial incentives that reduce specific State or local tax burdens for businesses.
This creates an uncertain tax environment for Illinois...
09.26.13
Since July 2013 each of the six local governments monitored by the Civic Federation with General Obligation bond debt has experienced downgrades to their bond ratings. These governments are the City of Chicago, Cook County, the Metropolitan Water Reclamation District (MWRD), the Forest Preserve...
09.19.13
An effort to clear Illinois’ Medicaid program of ineligible enrollees has led to the removal of 128,700 participants, but State savings are expected to be far lower than hoped by lawmakers, according to testimony at a legislative hearing on September 17, 2013.
The State has moved...
09.13.13
In recent years, the State of Illinois’ financial woes had been complicated by a massive backlog of unpaid income tax refunds . When the backlog was paid off by the end of FY2013, the State reaped a...
08.30.13
To support construction projects during the busy summer months, the State of Illinois issued $2.0 billion of capital purpose debt, which for the most part will be repaid from the State’s Capital Projects Fund.
The Fund was created to receive the revenues from a package of new...
08.22.13
The Civic Federation does not support the Chicago Public Schools (CPS) proposed $6.6 billion operating budget for FY2014, which completely draws down unrestricted reserve funds and uses some...
08.22.13
UPDATE:
On August 23, 2013, the preliminary FY2014 budget of the Cook County Health and Hospitals System was unanimously approved by the Health System's Board of Directors. The Cook County Board is expected to vote on the plan in October. The Health...
08.21.13
At the end of the month, the Board of Education for Chicago Public Schools will vote on the District’s $5.6 billion operating budget for FY2014. The total budget of $6.6 billion is supported by local, state and federal revenues and other resources, including $761.6 million of appropriated...