Government Budgets

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City debt payments poised to soar next year, further clouding budget

 The City of Chicago released its Annual Financial Analysis on July 31, showing that debt payments are expected to rise next year by $278 million to a record level of $1.55 billion. The Civic…

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City of Chicago Releases Annual Financial Analysis for 2012

 This week the City of Chicago released its Annual Financial Analysis for 2012. According to an…

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Enterprise Zones: Illinois and Other States

As discussed here previously the Illinois General Assembly recently passed a sweeping overhaul of its Enterprise Zone Act. If signed by the Governor, the…

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Civic Federation Urges Sufficient Time for Public Input on Local Government Budgets

In its recent analyses of the $5.7 billion FY2013 budget proposed by Chicago Public Schools and the $659.5 million FY2013 budget proposed by the City Colleges of Chicago, the Civic Federation expressed concern about the limited time…

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Chicago Public Schools' Budget Under Fire

Paris Schutz of WTTW interviewed Civic Federation President Laurence Msall about the Civic Federation’s Analysis of Chicago Public Schools (CPS) FY2013 proposed budget. The report opposes the…

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Civic Federation rips ‘alarmingly short-sighted’ schools budget

This article covers the release of the Civic Federation’s Analysis of Chicago Public Schools (CPS) FY2013 proposed budget. The Civic Federation opposes the CPS budget for the first time since…

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State Revenues Higher Than Expected In FY2012

Total revenues collected by the State of Illinois in FY2012 beat expectations by $576 million, according to an update from the General Assembly’s financial oversight commission. However, the same report suggested that stalled economic…

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Civic Federation Opposes Chicago Public Schools FY2013 Proposed Budget

As stated in its analysis released today, the Civic Federation opposes the Chicago Public Schools (CPS) proposed $5.2 billion operating budget for FY2013, which drains all General Fund…

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Civic Federation Urges Board of Education to Reject "Alarmingly Short-Sighted" FY2013 CPS Budget Proposal

(CHICAGO) In an analysis released today, the Civic Federation opposes the Chicago Public Schools (CPS) proposed $5.2 billion operating budget for FY2013 which drains all General Fund reserves to help close a $665 million budget deficit and…

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Chicago Public Schools FY2013 Proposed Budget: Analysis and Recommendations

The Civic Federation opposes the Chicago Public Schools (CPS) proposed $5.2 billion FY2013 operating budget which drains all General Fund reserves to help close a $665 million budget deficit and leaves the District with no identifiable…