This article discusses the potential for Chicago residents to see a significant property tax increase, due to the intensifying financial challenges facing the City of Chicago and Chicago Public Schools. The Civic Federation said new…
This segment covers the severe budget challenges facing Chicago Public Schools that were further exacerbated following a $634 million pension payment made June 30. The Civic Federation said CPS has been facing a structural deficit for…
This segment covers a community forum in which certain Illinois legislators said the State has more options for increasing revenue. Senator Pat McGuire cited the Civic Federation’s…
This article discusses the difficult financial choices Chicago Public Schools is facing as it approaches a $634 million pension payment due June 30 and a $1.1 billion deficit for the fiscal year beginning July 1. The Civic Federation said…
On June 17, 2015 the Chicago City Council approved the largest borrowing of Mayor Rahm Emanuel’s tenure, totaling $1.1 billion. The issuance pays for the current costs of refinancing the City of Chicago’s variable rate debt, ending its…
The Illinois General Assembly has approved a $36.3 billion general operating budget for the upcoming fiscal year with an acknowledged shortfall of at least $3.0 billion in revenues. The package of approximately 20 appropriation bills and…
This editorial discusses the $1.1 billion deficit Chicago Public Schools is facing and the decisions the District will need to make before the fall school year begins. It cites the Civic Federation’s…
This article covers the tough financial choices Chicago Public Schools is facing coming into the fall 2015 school year, including a $634 million pension payment. The Civic Federation discussed the District’s difficult options: severe…
This article discusses Mayor Emanuel’s plan to tackle a sharp increase in required payments to the City’s pension funds next year, based on a 2010 law aimed at bringing the City’s Police and Fire pension funds back to 90 percent funded by…
