11.18.10
This report examines the State of Illinois’ $53.5 billion operating budget for Fiscal Year 2011, which began on July 1, 2010 and ends on June 30, 2011. The report focuses on the $25.8...
11.18.10
This report examines the State of Illinois’ $53.5 billion operating budget for Fiscal Year 2011, which began on July 1, 2010 and ends on June 30, 2011. The report focuses on the $25.8...
11.18.10
A new report by the Civic Federation’s Institute for Illinois’ Fiscal Sustainability (IIFS) shows why the State of Illinois is struggling to make its...
11.11.10
When the General Assembly reconvenes next week for its annual veto session, it is expected to continue deliberating whether to borrow in FY2011 to make its required pension payment. If approved, the borrowing plan would lighten the load on the...
11.05.10
As explained in its recent analysis of the State of Illinois FY2011 proposed budget, the Civic Federation opposes the practice of supplying money to the State’s pension funds through borrowing. Pensions are...
11.05.10
After experiencing several years of poor market conditions, three of the five Illinois State employee retirement funds have reduced their expected rate of return on investments. This rate, also known as the discount rate, is used to calculate the present value of the future obligations...
09.30.10
Citing reliance on one-time revenue sources, such as borrowing, to try and close its FY2011 operating shortfall, Moody’s Investors Service announced last week that...
09.17.10
Only two months into the new fiscal year, the State of Illinois has already begun pushing FY2011 operating costs into the next fiscal year. By borrowing cash on hand in the State’s special funds, rather than sweeping it, the State has passed on more than $70 million in current operating...
09.03.10
Earlier this week the Institute for Illinois’ Fiscal Sustainability at the Civic Federation released a comparative analysis of the cost...
08.30.10
This issue brief provides a comparative analysis of the cost of the $9.6 billion in bonds the State of Illinois issued between September 2009 and July 2010. The report estimates that Illinois...
08.27.10
A recent report shows that nearly all the bond subsidies promised under the Build America Bond (BAB) program are being paid by the federal government to issuers applying for the credit without significant administrative delay. The BAB subsidy, equal to 35% of the interest cost of qualified...