This segment explores the history of Illinois’ Budget Stabilization Fund, more commonly known as a “rainy day fund.” Host Tony Sarabia and President of the Civic Federation Laurence Msall discuss the consequences for the state and for…
This article discusses the repeated depletion of the State of Illinois’ rainy day fund, due in FY2017 to the absence of a comprehensive, balanced budget. Civic Federation President Laurence Msall remarks that, in effect, Illinois continues…
The City of Chicago recently released its mid-year Annual Financial Analysis for 2016, which provides financial estimates for the City’s fiscal year ending…
This article discusses a plan to provide $20 million in property tax rebates to City of Chicago homeowners. Laurence Msall, President of the Civic Federation, notes that the program is likely to have a very modest impact to Chicago…
On June 29, 2016 the Cook County Board of Commissioners voted to approve a resolution to present a public question via a binding countywide referendum…
This article discusses the State of Illinois’ FY2017 stopgap plan and how it will not be enough to make whole many of the programs that rely on State funding. Civic Federation President Laurence Msall remarks that the stopgap plan is…
Despite a stopgap spending measure enacted on June 30, 2016, State of Illinois appropriations for higher education remain below expenditures in…
This article discusses the State of Illinois’ FY2017 stopgap plan and the financial impact of the State not enacting a comprehensive balanced budget. Laurence Msall, President of the Civic Federation, describes the stopgap plan as a…
On June 30, 2016, Cook County Board President Toni Preckwinkle issued a preliminary budget for fiscal year 2017, which begins December 1, 2016 and ends…
