The Chicago Public Schools faces a potentially devastating financial crisis. The elements of this crisis include: An FY2016 budget that was not balanced as it depended on the vague hope that the State of Illinois will provide $…
This segment reports on the State of Illinois paying more than $900 million in penalties for late bill payments in the past six years, which is highlighted in the Civic Federation’s…
This editorial reports on findings included in the Civic Federation’s recent analysis of Governor Rauner’s FY2017 proposed budget and…
The State of Illinois can add another complication to its already stressed financial condition, an $800.7 million shortfall in its capital spending plan caused by failure in several of the dedicated revenue sources enacted to fund debt…
This segment reports on two General Assembly working groups currently meeting in Springfield to negotiate an end to Illinois’ FY2016 budget impasse. Laurence Msall, President of the Civic Federation, notes that the State cannot go another…
This article discusses the Civic Federation’s recent analysis of Governor Rauner’s FY2017 proposed budget for the State of Illinois that…
Urges General Assembly and Governor not to pass or sign any appropriations for FY2017 unless part of a comprehensive plan (CHICAGO) – In a report released today, the Civic Federation’s Institute for Illinois’ Fiscal Sustainability…
The Civic Federation is unable to support Governor Rauner’s recommended budget for FY2017 because it has an operating deficit of at least $3.5 billion and presents an insufficiently detailed plan for closing the gap. According to the…
The State of Illinois’ budget impasse could cost taxpayers another $138 million due to liabilities associated with its swaps portfolio, if the lack of a spending plan causes its bond ratings to fall much further. As previously…
This article discusses the City of Chicago’s billion-dollar plan to build the George Lucas Museum of Narrative Art that will require borrowing and tax increases. Laurence Msall, President of the Civic Federation, explains that until an…
