This article discusses that the city of Harvey, a south suburb of Chicago, is in serious financial trouble with millions of dollars unaccounted for. President of the Civic Federation, Laurence Msall, notes that the lack of records and…
This article discusses an upcoming Chicago City Council vote on $3 billion worth of bond issuances for 2016. Some Aldermen have called for more time in order for the new City Council independent budget expert to review all of the plans.…
This article covers Mayor Rahm Emanuel seeking approval from City Council for $3 billion in borrowing, the biggest in his tenure. President of the Civic Federation, Laurence Msall, asks whether the record borrowing is in the best interest…
This article reports on the City of Chicago seeking to borrow up to $3 billion dollars in 2016 to fund a mix of capital, water, sewer and airport projects. Several hundred million of the borrowing funds will go to refinancing existing city…
This article discusses the state of Illinois ending calendar year 2015—six months into FY2016—without a budget. With the current budget impasse, spending plans have driven up borrowing costs, the state’s credit rating has sunk and…
The following were among the most highly read posts provided by the Institute for Illinois’ Fiscal Sustainability in 2015. Understandably, they represent the most closely followed Illinois fiscal issue of the year: the ongoing state budget…
FY2016 Budget Season Summary December 3, 2015 marked the end of the budget season for the eight local governments monitored by the Civic Federation. These governments include: the…
Popular Annual Financial Reports: The Potential for Increased Transparency, Accountability and Public InclusionThe Civic Federation has long encouraged government transparency and accountability, both of which are emphasized in our…
This article covers the Civic Federation’s December 3 analysis of the FY2016 Metropolitan Water Reclamation District Tentative Budget. The Federation…
This article discusses a December 1 meeting scheduled between Governor Rauner and four House and Senate leaders to discuss the Illinois budget and the ongoing budget impasse. The Civic Federation said there is an enormous financial cost to…
