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Government Budgets

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Update on Recommendations for a Financially Sustainable City of Chicago

On June 30, 2011 the Civic Federation released Recommendations for a Financially Sustainable City of Chicago. The report offered a comprehensive set of forty recommendations to…

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DuPage County Releases Proposed FY2013 Financial Plan

Yesterday, DuPage County Board Chairman Dan Cronin presented the DuPage County Proposed FY2013 Financial Plan to the County Board. DuPage County’s current fiscal year ends on November 30…

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Investors Plunge into Chicago's $271 Million Sewer-Bond Sale

This article discusses strong investor interest in the City of Chicago’s recent $271 million sewer bond sale, despite the City’s severe financial challenges including a $369 million projected deficit for FY2013. The article cites the…

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State Expects to Clear Backlog of Unpaid Income Tax Refunds in FY2013

      Although the State of Illinois is still burdened with a multibillion-dollar backlog of unpaid bills, one…

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Civic Federation Recommendations Regarding Changes to Fund Balance Reporting Standards

Earlier this year, the Civic Federation published a blog describing the recent changes to the standards for how governments report fund balance. Fund balance…

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Pensions Consume Growing Share of State Revenues

On August 17, 2012, Illinois legislators adjourned a special one-day session of the General Assembly…

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Chicago Public Schools Approves FY2013 Budget

On July 19, 2012, the Civic Federation released its analysis of the proposed FY2013 budget for Chicago Public Schools (CPS) in anticipation of the Board of Education’s vote on the budget…

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Schools budget up for vote, final plan still uncertain

This article discusses uncertainty surrounding the Chicago Public Schools' FY2013 budget. The FY2013 budget will remain unresolved after today's vote by the Chicago Board of Education because…

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State’s FY2013 Budget Still Missing Significant Components

The State of Illinois’ enacted budget for FY2013 is missing key components needed to carry out the General Assembly’s spending plan, according to a recent filing in…

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Part Two on City of Chicago's Annual Financial Analysis for 2012 -- Pension Liabilities and Long-Term Debt

(Click here to read part one of this two-part look at the City's Annual Financial Analysis.) Last week, the City of Chicago released its…