In an analysis of Cook County’s FY2022 budget proposal released in November, the Civic Federation supported the Cook County budget proposal of $8.0 billion. This blog post takes a closer look at public safety spending in the County’s budget by examining five of the five key County criminal justice stakeholder offices—the Sheriff, Chief Judge, Clerk of the Circuit Court, State’s Attorney and…
Illinois enacted a $48.7 billion multi-year FY2022 capital budget in June 2021. Unlike the State’s annual General Funds budget, which is intended to cover only the cost of operations for the current fiscal year, capital appropriations are reauthorized over multiple years as planning, engineering and construction of capital investments commence. The current capital budget was initially approved in…
Click here to read the full report. Click here to read a press release for this analysis. EXECUTIVE SUMMARY The Civic Federation supports the Cook County FY2022 Executive Budget Recommendation of $8.04 billion. The County is in a good financial position to recover from the disruptions caused by the COVID-19 pandemic. The County has built up reserves, maintained manageable long-term debt levels…
The Civic Federation released its annual analysis of the City of Chicago’s proposed budget this week. Included in the report was a section dedicated to the budgetary impact of the City’s four pension funds and evaluating trends in their funded status. This blog post reproduces that chapter for readers who might not otherwise see it. Pensions in the FY2022 City of Chicago Budget The City of…
Concerns remain regarding pension funding and sustainability Click here to read the full report. Click here to view the landing page for this analysis. CHICAGO – In a report released today, the Civic Federation expressed its support for Chicago Mayor Lori Lightfoot’s proposed FY2022 budget of $10.6 billion, because it leverages federal COVID-relief funding to balance the budget, maintain…
Click here to read the full report. Click here to read the press release for this analysis. EXECUTIVE SUMMARY The Civic Federation supports Mayor Lightfoot’s proposed FY2022 budget of $10.6 billion for all local funds (excluding grants and capital). The City of Chicago is in a much better financial position now than a year ago thanks to significant federal COVID-19 relief funding that has…
The City of Chicago has released a FY2021-FY2025 Capital Improvement Program (CIP).[1] The purpose of a CIP is to establish priorities that balance capital needs with available resources, pair capital projects with funding sources, help ensure orderly repair and maintenance of capital assets and provide an estimate of the size and timing of future debt issuance. The first year of a CIP is…
The fiscal year 2022 budget for the State of Illinois and the process that created it showed the ongoing impact of the COVID-19 pandemic, but also the beginnings of a recovery within the State economy. Unlike the FY2021 budget, the spending plan for FY2022 does not rely on federal borrowing and instead includes provisions to pay off the previous year’s remaining Municipal Liquidity Facility (MLF…
Click here to read the full report (PDF). Click here to read the press release for this analysis. SUMMARY The Civic Federation supports the Chicago Public Schools (CPS) proposed budget of $9.3 billion for FY2022 because it is balanced and supported by federal COVID-19 relief funding. CPS, along with all other state and local government agencies in the United States, has for the past year…
Spending plan bolstered by significant short-term federal support; Federation reiterates call for longer-term plans Click here to visit the report landing page. CHICAGO – In an analysis released today, the Civic Federation expressed its support for the Chicago Public Schools’ proposed fiscal year 2022 budget. The $9.3 billion one-year spending plan is balanced and includes federal funding to…
