Government Budgets

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Illinois’ multi-billion dollar bill backlog goes back a decade

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…

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Chicago Public Schools raises questions with $162 million capital budget

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…

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Cook County STAR Report Shows Savings for FY2012

This blog reviews the 2012 4th Quarter STAR (Set Targets Achieve Results) report for Cook County’s…

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Illinois Lacks an Executive-Legislative Consensus on Revenue Estimates

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…

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Chicago Wins Lowest Cost Since ’09 Making Cubs Pay: Muni Credit

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…

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Poll: Wealthiest Investors More Concerned in Illinois

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…

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CPS Proposes to Increase FY2013 Capital Budget by $363.7 Million

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…

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Conference on Economic Development Explores Strategies for Difficult Fiscal Times

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…

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Governor Proposes Reduced State Funding for Local Governments and Mass Transit

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…

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City's Quarterly Budget Report Shows Increased Revenues, Exhausted Claims and Judgement Budget

On February 20, 2012 Mayor Emanuel released the City of…