Cook County’s fiscal year begins on December 1 and ends on November 30. The Civic Federation believes that all governments should adopt a budget at least one month in advance of the start of the fiscal year. For the County, that would be a…
This report examines the State of Illinois’ operating and capital budgets as enacted for Fiscal Year 2012, which began on July 1, 2011 and ends on June 30, 2012. Despite a major income tax increase implemented in January 2011, the total…
Major Tax Increase, Cuts to Appropriations Did Not Fix State’s Finances (CHICAGO) The Institute for Illinois’ Fiscal Sustainability at the Civic Federation released its analysis of the enacted FY2012 State budget today. The report found…
The Illinois State Comptroller’s Office recently issued its annual report on tax expenditures. The report is published pursuant…
Largely due to the income tax increase that took effect in January 2011, the State of Illinois’ operating deficit is expected to shrink from $3.9 billion in FY2011 to $454 million in FY2012. However, as…
Two months after the start of the State of Illinois’ 2012 fiscal year on July 1, 2011, Governor Pat Quinn has proposed the closure of seven state facilities and the layoff of more than 1,900 employees in order to cope with a funding…
This article discusses the Civic Federation’s analysis of Chicago Public Schools’ FY2012 budget proposal. The Civic Federation supports the proposal, albeit with concerns over the long-term health of the District’s finances.
In this news segment about a possible lengthening of the school day at Chicago Public Schools, Civic Federation President Laurence Msall says he is impressed that CPS found the funds to offer teachers a 2% pay increase in exchange for…
This story discusses plans by Chicago Police Superintendent Garry McCarthy to cut police vacancies to help the City of Chicago with its budgetary problems. The Civic Federation applauds the proposal, which follows recommendations made by…
The State of Illinois still owes income tax refunds to many businesses, but the backlog declined in the fiscal year ended June 30, 2011 and is expected to dip further this year. According to the Illinois Department of Revenue, 4,569…
