The Civic Federation strongly supported the Governor's proposed pension reforms and urged the General Assembly to adopt the pension reforms as well as a moratorium on further benefit enhancements.
The Civic Federation strongly supported the Governor's proposed pension reforms and the Pay as You Go funding proposal . It urged the General Assembly to adopt the pension reforms as well as a moratorium on further benefit enhancements.
This report provides a trend analysis of indicators that measure the financial health and performance of 9 major local government pension funds from 1998 to 2003. It finds a combined $9.7 billion in unfunded liabilities for the nine funds.
Civic Federation President Laurence Msall is a member of the Governor's Pension Commission and supported this report. The Report recommends changes to pension plan provisions and pension funding practices to address the underfunding of Illinois' state retirement systems.
Civic Federation urges increased public input, accountability (CHICAGO) – In passing its FY2005 budget today, the Cook County Forest Preserve District’s Board of Commissioners increases its property tax levy by nearly 14% without offering taxpayers the accountability they deserve. The Forest Preserve District increased its annual budget by $56.6 million over FY2004, largely to cover costs of planned capital improvements. “There’s no question that Brookfield Zoo, Chicago Botanic Garden and the…
The Civic Federation opposed the Forest Preserve District’s FY2005 Budget because the District has failed to meet minimum standards for disclosure and accountability in its budget process and has implemented a 13.6% property tax increase which is not justified.
The Civic Federation opposed the County’s $3.04 billion FY2005 budget because it does not reduce operational expenditures or implement increased efficiencies and it is balanced by means of two new and unnecessary revenue enhancements: a 2% hotel tax and a 2% restaurant tax.
The Civic Federation supported the MWRD's FY2005 Budget because it levied well below the maximum allowable property tax increase, and because it continues to reduce personnel. The Federation recommended continued restraint in levy increases, including for Stormwater Management, and improvements in budget presentation.
The Civic Federation supported the Chicago Park District's FY2005 Budget because the District levied well below the maximum allowable property tax increase, and because it continued to reduce full-time personnel. The Federation is concerned that the CPD may commingle Special Recreation funds with General Funds, and recommends dramatic improvements to the budget documents.
The Civic Federation supported the City's holding the property tax levy constant for the second year in a row and cutting positions, but was concerned that further measures to control personnel expenditures should be taken and was disappointed that the City did not dedicate more Skyway sale revenues for long-term obligations.
