10.07.15
03.24.15
Short-term or current liabilities are financial obligations that must be satisfied within one year. They can include short-term debt, accounts payable, accrued payroll and other current liabilities.
This blog post presents 12-year trends for 1) total short-term liabilities in the...
02.12.15
The Civic Federation’s previous blog examined the long-term debt of eight major local governments in northeastern Illinois.
This blog explores the unfunded pension liabilities of...
02.03.15
The Civic Federation regularly analyzes and comments on the budgets and audited financial statements of eight major local governments in northeastern Illinois:
1....
01.15.15
The Civic Federation and IIFS blogs have written extensively about reductions to assumed rates of return on investment by State and some local public pension plans over the last several years. These changes are part of a nationwide trend, influenced partly by the low interest rate environment...
11.12.14
The provisions of Public Act 98-0622 will not go into effect until January 1, 2015, but the changes to Chicago Park District employee and retiree pension benefit levels contained in the legislation have already reduced the fund’s unfunded liability by $109.4 million or 18.5% and increased the...
09.26.14
As recently as 2011, the State of Illinois projected its backlog of unpaid income tax refunds could increase to more than $1.0 billion but by the end of FY2014 nearly all refunds were paid. In FY2015, for the...
08.27.14
Businesses do not always pay their bills immediately, and neither do governments. Delays of a month or two are standard practice, although prompt payment is preferable to take advantage of discounts,...
06.19.14
Under Illinois law , the State is required to share a certain portion of state income tax receipts with municipal and county governments in Illinois through the Local Government Distributive...
05.15.14
New actuarial reports released by the Cook County Pension Fund this month show a slight improvement in the Fund’s financial position in 2013 due to better than expected...
