Local Pension Unfunded Liabilities Hit $18.5 Billion
The total unfunded liabilities of the ten major Chicago-area public pension funds reached $18.5 billion in fiscal year 2008. That is an increase…
The total unfunded liabilities of the ten major Chicago-area public pension funds reached $18.5 billion in fiscal year 2008. That is an increase…
As reported in the Civic Federation’s latest report on ten local government pension funds, the most recent audited financial statements of the…
This report analyzes basic financial data on ten major local government employee pension funds in Cook County. It is intended to provide lawmakers, pension trustees, pension fund members and taxpayers with the information they need to…
The redesign of the Civic Federation website in July has provided the public, government officials, and the media better access to the Federation’s analyses of government services in Illinois. The regularly-updated Civic Federation blog…
The Civic Federation's legislative priorities for 2010 include public pension reform, requiring state government to develop and implement performance measurement and a capital improvement plan, the dissolving of the Illinois International…
Under the old state statute that limited the property tax rates of the Chicago Public Schools, Tax Increment Financing directly restricted property tax revenues available to CPS because it froze part of the equalized assessed value (EAV)—…
Chicago Public Schools has received almost $400 million in Tax Increment Financing revenue from the creation of the first City of Chicago TIF in 1984 through July 2009 and is scheduled to receive over $491.3 million more according to…
The Civic Federation supports the $6.9 billion Chicago Public Schools FY2010 proposed budget. The District employed reasonable measures to balance its budget in light of a $473 million deficit, including cuts to personnel and a proposed…
Today the Civic Federation released its analysis of Chicago Public Schools’ proposed FY2010 budget. On page 61 of the…
This report provides a trend analysis of indicators that measure the financial health and performance of ten major local government pension funds from 1998 to 2007, the most recent year for which audited data are available. It finds that…