On July 6, Chicago Public Schools announced its proposed 2012-2013 budget, which covers a $665 million deficit through a combination of cutting operations, raising property taxes and using $432 million in reserves to avoid significant…
This blog discusses plans announced by Chicago Public Schools (CPS) to drain its unrestricted reserve fund to help balance a proposed $5.16 billion spending plan for 2012-2013. The Government Finance Officers Association recommends…
On June 27, 2012, the Office of Cook County Board President Toni Preckwinkle released its annual Preliminary Budget…
Cook County’s public health system faces significant financial challenges in fiscal year 2013, although the outlook could improve if the federal government signs off on…
In light of the State of Illinois’ pension funding crisis, it has become more widely understood that the annual Cost of Living Adjustment, or COLA, plays a large role…
This article looks at the fiscal health of states around the country coming out of the recession. While many states are experiencing economic recovery, Illinois and California are still facing large budget gaps. The Civic Federation said…
As part of the spring legislative session, the Illinois General Assembly approved a sweeping reform measure intended to add transparency, accountability and competition to the State’s…
State of Illinois officials expect unpaid Medicaid bills to decline to $600 million by the end of the 2013 budget year, but that prediction depends on…
This article discusses the State of Illinois’ mounting fiscal challenges which persist despite a major income tax increase enacted in January 2011. The Civic Federation warns that Illinois already has the worst credit rating of all 50…
UPDATE: On May 24, 2012 the Illinois General Assembly approved legislation to permit Cook County’s public health system to obtain federal funding for medical services for low-income adults under the Medicaid program. The plan must still…
