(Chicago)—The Civic Federation today released its analysis of the Chicago Transit Authority (CTA) Proposed FY2005 Budget and testified at the public budget hearing. Although The Federation supports increased State operating assistance for…
The Illinois General Assembly approved a final State budget of $43.57 billion, 0.03% more than proposed by the Governor. The Governor and legislative leaders approved a 2-year pension funding “holiday” of $2.3 billion to help balance this…
The Civic Federation opposes District 508's FY2006 budget because it increased by 11.2%, raised property tax to the maximum amount, and increased tuition, without evidence of serious efforts to cut costs.
CIVIC FEDERATION SUPPORTS FY2006 CPS BUDGET, BUT WARNS OF “UNSUSTAINABLE” LONGTERM FINANCIAL OUTLOOK The Civic Federation supports the FY2006 CPS budget as a short-term plan to address the current year’s fiscal and programmatic challenges…
The Civic Federation supports the FY2006 Chicago Public Schools budget as a short-term plan to address the current year’s fiscal and programmatic challenges. It expresses concern about the budget’s lack of basic transparency, and warns of…
The Civic Federation supports HB 1663 as an important first step toward resolving the CTA's financial crisis, but continues to call for a CTA fare increase and supplemental state funding to bridge the agency's immediate deficit and avert…
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…
