State's pension costs to consume nearly 25% of State-source revenues in FY2014 (CHICAGO) – In a new report released today, the Civic Federation’s Institute for Illinois’ Fiscal Sustainability supports Governor Quinn’s proposed budget for…
This article examines the accumulation of Illinois’ backlog of unpaid bills in the past decade, from nearly $1.2 billion in FY2002 to $9.0 billion in FY2012 to its current level of $5.6 billion reported by the State Comptroller on April 29…
This article discusses Chicago Public Schools’ proposed $162 million capital budget for FY2014. The Civic Federation is concerned that the District is expanding its borrowing without a clear plan for addressing its projected deficit of $1…
An important first step in preparing a government budget is the preparation and publication of revenue estimates for the upcoming fiscal year. The estimates provide the basis for the spending decisions that are subsequently incorporated…
This article discusses the $500 million Wrigley Field renovation proposal which will be financed by the Cubs franchise without the use of municipal bonds. The Civic Federation said Mayor Emanuel’s decision to withhold public money shows he…
This article discusses a Morgan Stanley Wealth Management poll result that 93 percent of high net worth investors in the Chicago area are worried about the state’s financial well-being despite general optimism about the national and global…
UPDATE: At its April 24, 2013 meeting, the Chicago Board of Education approved the District’s amended FY2013 capital budget. Original blog published on April 17, 2013 On April 6th Chicago Public Schools (CPS) released its…
The Civic Federation joined with the Federal Reserve Bank of Chicago on April 4, 2013 to co-host a conference on economic development strategies during difficult fiscal times. Experts and practitioners from California, Michigan and the…
Faced with rising pension costs and modest revenue growth, Governor Pat Quinn has recommended a reduction in State of Illinois funding for local governments and statewide public transportation. In his…
