The City of Chicago currently has the lowest rated credit of any major city in the country according to Moody’s Investors Service. At Baa1, the long-term bond rating is still several levels above…
This article discusses interest rate swaps made by Chicago that require the City to maintain a credit rating of at least Baa1, or financial institutions can terminate deals and demand payment. Chicago’s credit rating sits at Baa1 after…
In this clip Civic Federation President Laurence Msall discusses the FY2015 Budget passed by Illinois legislators May 30. The budget does not provide funding for a full fiscal year, and relies on borrowing and shifting revenue from FY2014…
Although Governor Pat Quinn originally proposed a capital budget for FY2015…
Cook County is a home rule government with three primary responsibilities: collecting tax and fee revenue, protecting public health through the administration of a public health and hospital system and ensuring public safety and justice…
This article discusses Illinois’ FY2015 budget approved by State Legislators last week, which fails to provide adequate funding for a full year despite borrowing for operations and shifting revenue from FY2014. The Civic Federation said…
UPDATE: Illinois General Assembly Passes FY2015 Budget On May 30, 2014, a day before the end of the Illinois General Assembly’s regular spring session, the Senate passed the FY2015 budget previously approved by the House. As discussed…
The capital budget proposed by Governor Pat Quinn for FY2015 represents the sixth year of the Illinois Jobs Now! capital spending program and the first year since its inception that new bond-funded projects are not included in the…
This article covers the analysis of Governor Quinn’s FY2015 Recommended Budget released today by the Institute for Illinois’ Fiscal Sustainability at the Civic…
