This article discusses the tough financial decisions Cook County will have to make in order to address its expected budget deficit. Civic Federation President Laurence Msall explains that Cook County has been grappling with financial…
The Civic Federation supports the City Colleges of Chicago’s proposed FY2017 operating budget. The $523.7-million budget is a reasonable plan given the unprecedented uncertainty surrounding funding from the State of Illinois as it enters a…
After a yearlong stalemate, the State of Illinois finally saw a crack in its ongoing budget impasse on the last day of the fiscal year. The General Assembly rushed approval of bills authorizing a full year of preschool through high school…
This article discusses Chicago Public School’s ongoing financial and pension issues. Laurence Msall, President of the Civic Federation, attributes the school district’s financial difficulties in part to the absence of a balanced State…
This article discusses a proposal to change the City of Chicago’s investment restrictions. Civic Federation President Laurence Msall notes that the purpose of the treasurer’s office is to protect the cash reserves of the City, not to…
This article discusses a recent Chicago conference that featured expert panelists who discussed solutions to the City’s biggest challenges. As a panelist, Civic Federation President Laurence Msall gave his insight on the City of Chicago’s…
This article discusses the high interest rate that the City of Chicago recently paid for $220 million in short-term funding. Civic Federation President Laurence Msall calls the interest costs an unfortunate and avoidable expense, noting…
In advance of a $550 million bond sale this week, the State of Illinois announced it had negotiated new terms with the largest holder of Illinois swaps. The new lower level for termination of the swaps based on Illinois’ credit ratings…
This article reports on the City of Chicago’s record property tax increase and how it will affect City homeowners this year. Laurence Msall, President of the Civic federation, notes that with Chicago’s historic underfunding of pensions,…
This article discusses the downgrades to the State of Illinois’ already low credit rating. Civic Federation President Laurence Msall remarks that these downgrades will result in tens of millions of dollars in unnecessary borrowing costs…
