This growing glossary contains common terms used in Civic Federation research, reports and blog posts.
Actuarial Liability: A retirement system’s projected benefit obligation due to past service by employees and retirees.
Appropriation: Spending authority from a specific fund for a specific amount, purpose and time period. [2]
Assessment Level: The percentage of full value at which property is being assessed.
Links to each presentation can be found within the agenda below:
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8:05 a.m. — Welcome
William Testa,Vice President, Federal Reserve Bank of Chicago
8:10 a.m. — Opening Presentation
Adam Hoffer, Assistant Professor, University of Wisconsin-LaCrosse
Sin Taxes: An Economist's Perspective
8:50 a.m. — Break
9:00 a.m. Session I — Competition and Cooperation: Cross-Jurisdictional Issues and Tobacco Taxes
Below is a list of terms commonly used in the Civic Federation's Unincorporated Cook County report.
Annexation
Is the extension of municipal boundaries into adjacent unincorporated areas and the corresponding expansion of city services to those newly incorporated areas. In Illinois, municipal governments have the authority to determine and expand their boundaries, subject to the provisions of the Illinois Municipal Code (See 65 ILCS 5/ Illinois Municipal Code).
Equalized Assessed Value
Or EAV, is the taxable value of real property.
To view a mobile friendly version of this page, click here.
As part of our full report on unincorporated Cook County, the Civic Federation compiled profiles of the unincorporated areas in the six townships that contain a majority of the total unincorporated Cook County population: Bremen, Lemont, Leyden, Maine, Northfield and Orland. Understanding more about the unique characteristics of these areas will help County and municipal officials, as well as unincorporated residents, develop plans to incorporate.
After Detroit: How will Illinois and its Communities Respond?
Wednesday, April 23, 2014
8:00 a.m. to 1:30 p.m.
Federal Reserve Bank of Chicago
230 South LaSalle Street
Chicago, Illinois
For a synopsis of the event, click here.
Welcome and Opening Remarks
William Testa, Vice President, Federal Reserve Bank of Chicago
Robert Inman, Wharton School -- University of Pennsylvania
Lessons from Past Fiscal Crises: New York and Philadelphia
Managing Economic Development in Times of Fiscal Uncertainty: Past Crises and Current Strategies
Thursday, April 4, 2013
8:00 a.m. to 1:00 p.m.
Federal Reserve Bank of Chicago
230 South LaSalle Street
Chicago, Illinois
About the Civic Federation
The Civic Federation is an independent, non-partisan government research organization founded in 1894. The Federation's membership includes business and professional leaders from a wide range of Chicago area corporations, professional service firms and institutions. The Civic Federation seeks to assist public policy opinion leaders in the Chicago area and to advance issues such as property tax reform, tax simplification, privatization, and joint purchasing with the objective of improving governmental efficiency and financial accountability.
About GRA
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Financial and Policy Challenges
Facing State and Local Governments
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July 25-27, 2011 at the
Federal Reserve Bank of Chicago
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CLE/CPE Credit Information
Monday, July 25, 2011, 8:00 a.m. – 3:15 p.m.
***Earn 5 hours of MCLE and CPE Credits***
This cross-disciplinary conference will explore legal and financial challenges of state and local governments. Panelists will discuss the risk of and alternatives to bankruptcy for distressed governments; how to make public pension reforms work; the potential effects of pension accounting standards changes under consideration by the Governmental Accounting Standards Board; and recent performance measurement and “budgeting for results” efforts by state and local governments.
