This editorial about the recent increase in the State of Illinois income tax discusses findings in IIFS’ analysis of the State’s FY2012 enacted budget, one of which included the discovery that debt and pension fund service for next year will total $5.8 billion.
The Illinois General Assembly’s Commission on Government Forecasting and Accountability (COGFA) began holding public hearings on October 5, 2011 on Governor Quinn’s proposal to close seven state facilities. COGFA is required under the State Facilities Closure Act (30 ILCS 608) to hold public hearings on the proposed closing of prisons, youth centers and centers for the mentally ill and…
On October 4, 2011 the Civic Federation released an independent analysis of Chicago charter school finances. The 170-page report, which is the first of a two-part study supported by the Searle Funds at The Chicago Community Trust, examined the publicly available budgets and audited financial statements of all Chicago charter schools in operation during FY2007 and 2008, measured how well the…
(CHICAGO) A first-ever independent analysis of Chicago charter school finances by the Civic Federation has found that most of the schools were in good financial health during the 2007 and 2008 fiscal years. As a group Chicago charters also used many fiscal best practices. Released today, the report is the first of a two-part study supported by the Searle Funds at The Chicago Community Trust. The…
This 170-page report is a comprehensive examination of Chicago charter school finances and financial performance in fiscal years 2007 and 2008. The primary purpose is to provide a first-ever financial analysis of Chicago’s charter schools. In addition, the report is a primer on charter schools, providing an overview of national charter school research, an outline of charter school funding models…
This article about IIFS' analysis of the State of Illinois FY2012 enacted budget focuses on the dismal fiscal outlook for the State due to its major pension and debt obligations.
This article discusses IIFS' analysis of the State of Illinois FY2012 enacted budget and explains the effect the State's pension and debt obligations will have on its budget deficit.
In this article, Crain's columnist Greg Hinz discusses findings in IIFS' analysis of the State of Illinois FY2012 enacted budget.
This article discusses IIFS' analysis of the State of Illinois FY2012 enacted budget and focuses on the amount the State pays toward its pension and debt service obligations.
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 November 1 budget adoption. In addition, the public should be provided with ample time to review the budget in advance of the public hearing. In the past, Cook…
