04.18.14
Although the budget recommended by Governor Pat Quinn for FY2015 proposes extending current income tax rates to avoid a massive revenue cliff, it also relies on borrowing $650 million to close a budget gap and pay down a portion of the State’s backlog of unpaid bills.
Despite the...
03.28.14
On March 26, 2014, Governor Pat Quinn presented an FY2015 budget proposal for the State of Illinois that avoids a fiscal cliff by retaining temporary income tax increases that were scheduled to be phased out beginning in...
03.26.14
In 2013 President Preckwinkle formed a blue-ribbon commission of local leaders to develop the Next Century Conservation Plan to help provide vision and guidance to the Forest...
03.20.14
Next week Governor Pat Quinn will give his sixth budget address since taking office in 2009. The budget is expected to be one of the most difficult of his tenure considering that the State is currently expected to have approximately $5.4 billion in unpaid bills at the end of FY2014 and will see...
03.05.14
In its recently released FY2015 budget roadmap report , the Institute for Illinois’ Fiscal Sustainability at the Civic Federation recommended that the State of Illinois publish a five-year financial...
03.03.14
Prior to the release of the Governor’s annual budget recommendation, the Institute for Illinois’ Fiscal Sustainability at the Civic Federation releases an analysis of the State of...
02.28.14
The Illinois House of Representatives has approved a revenue projection for the coming fiscal year that includes a $2.2 billion loss in operating resources for FY2015, after a holding series of committee meetings to deliberate varying estimates.
The General Funds revenue estimate...
10.30.13
The State of Illinois will need to contribute somewhat more to its five retirement systems in FY2015, but the growth will be less than previously projected due mainly to strong investment returns.
Pension contributions required by State law will increase by $103.5 million, or 1.5%, to $6...
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...
08.08.13
Last week the City of Chicago released its Annual Financial Analysis for 2013 . According to an...
