The Civic Federation does not support the Chicago Public Schools (CPS) proposed $6.6 billion operating budget for FY2014, which completely draws down unrestricted reserve funds and uses some restricted reserves to close a $977 million…
(CHICAGO) In an analysis released today, the Civic Federation withholds support for the Chicago Public Schools (CPS) proposed $6.6 billion budget for FY2014, which closes a $977 million budget deficit with a complete drawdown of…
On June 27, 2013, Cook County Board President Toni Preckwinkle released a report on preliminary budget estimates for fiscal year 2014, which begins on December 1, 2013 and ends November 30…
Last week the City of Chicago released its Annual Financial Analysis for 2013. According to an…
This article covers the July 31 release of the City of Chicago’s annual financial analysis, which projects a $1 billion deficit in 2015 if the City’s pension funds aren’t stabilized by major reforms. The Civic Federation said it would be…
On this segment, Civic Federation President Laurence Msall discussed the consequences of a triple credit rating downgrade the City of Chicago received from Moody’s Investors July 18. The downgrade will make it more expensive for the City…
This article discusses Chicago Public Schools’ plan to use $700 million in reserve funds in order to fill a $1 billion deficit in FY2014. The Civic Federation opposed the FY2013 CPS budget for…
The following opinion piece by Civic Federation President Laurence Msall was published by…
An increase in the cigarette tax increase designed to provide additional funding for the Illinois Medicaid program generated more revenues than expected despite a drop in sales and hoarding of tax stamps prior to the effective date of the…
