12.07.22
On November 14, 2022, the Governor’s Office of Management and Budget (GOMB) released the Illinois Economic and Fiscal Policy Report. The report includes changes to the FY2023 enacted budget revenue forecast and a five-year budgetary forecast.
The FY2023 Enacted Budget
On April...
11.23.22
This blog examines online reporting of American Rescue Plan Act (ARPA) spending and performance measures by major U.S. cities. A key component of ARPA was a $350 billion infusion of federal funding to state, local and Tribal governments nationwide to support their pandemic recovery through the...
11.18.22
11.11.22
On November 7, 2022, the Chicago City Council voted to pass the Mayor’s proposed FY2023 budget of $16.4 billion. The...
11.10.22
11.04.22
In the State of Illinois, non-home rule units of government located in counties subject to the Property Tax Extension Limitation Law (PTELL) are limited in the size of their annual property tax extension to 5% or the increase in the Consumer Price Index (CPI), whichever is less. However, the...
11.03.22
10.28.22
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 financial information is available, Cook County’s total unrestricted general...
10.26.22
10.21.22
