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Fund Balance

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GFOA Recommends Governments Rethink Their Reserve Policies

The Government Finance Officers Association (GFOA) recently published a report entitled Should We Rethink Reserves? A…

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Cook County Unrestricted General Fund Balance at $869.1 million in FY2021

Fund balance is a term used to describe the net assets of a governmental fund and serves as a measure of budgetary reserves.[1] In FY2021, the last year for which audited…

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Funding Status of the Chicago Teachers’ Pension Fund

This blog post examines the Chicago Public Schools’ contributions to the Chicago Teachers’ Pension Fund in the FY2023 budget and the funding status of the Pension Fund based…

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Chicago Public Schools’ Operating Reserves Continue to Improve

The Civic Federation recently released its analysis of the Chicago Public Schools proposed FY2023…

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Civic Federation Supports Cook County's FY2019 Budget

(CHICAGO) In a report released today, the Civic Federation announced support for Cook County’s proposed FY2019 budget. The $5.9 billion budget proposal is structurally balanced without raising new taxes and continues the practice of making…

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Cook County FY2019 Executive Budget Recommendation: Analysis and Recommendations

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City of Chicago Reports Improved Fund Balance

The City of Chicago released its 2017 Comprehensive Annual Financial Report (CAFR) earlier this summer. This blog will examine the City’s Corporate Fund (i.e. General Fund) fund balance as a percent of general operating expenditures based…

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Update on the Chicago Public Schools’ Fiscal Year 2018 Finances

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The Watchdogs: Pension funds lost millions on deals

This article reports on a real estate investment made on behalf of five of Chicago’s public pension plans, which resulted in significant losses for those plans. Civic Federation President Laurence Msall comments on the lost investment and…

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12-Year Short-Term Liability Trends for Chicago, Cook County and Chicago Public Schools

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