The new Mayor of the City of Chicago faces three major fiscal challenges that will require the immediate attention of the new administration, according to a new report released today by the Civic Federation. The daunting difficulties…
This article is about City of Chicago mayoral candidate Rahm Emanuel’s plans to fix the City’s budget gap and pension funding issues. The Civic Federation says the City’s financial condition is precarious and the next mayor will need to…
In this article about the City of Chicago’s plan to incur debt to pay City firefighters back pay, the Civic Federation says that borrowing funds to pay for operating costs is expensive and demonstrates a lack of financial planning.
This article examines the City of Chicago Inspector General’s revelation that unpaid furlough days taken by City employees to help bridge a City budget gap may have also contributed to a shortchanging of the City’s pension systems. The…
The State of Illinois is anticipating a large increase in revenues from income tax rate increases approved in January and additional resources from borrowing to make its pension payment for the second year in a row. Even so, the Governor…
The staff and President of the Forest Preserve District of Cook County filed a FY2011 proposed budget for review by the District’s governing board on October 6, 2010, almost three months before the start of the new fiscal year on January 1…
This article about Cook County President Toni Preckwinkle’s proposed FY2011 budget, which makes major cuts and restructures debt to fill a nearly $500 million budget gap, mentions that the Civic Federation supports the proposed reforms.
This post on the Clout Street blog is about Cook County’s proposed FY2011 budget plans, which include major personnel cuts and debt restructuring to reduce a nearly $500 million budget gap. The Civic Federation says the budget proposal…
In this blog entry, Greg Hinz discusses Cook County President Toni Preckwinkle’s proposed FY2011 County budget, which calls for significant personnel reductions to help reduce a large budget gap. The Civic Federation says the proposed…
