The Federal Reserve Bank of Chicago recently co-hosted a conference featuring analysis and discussion among local and national budget experts to better understand the fiscal condition of states and prospects for economic recovery after…
The Civic Federation released today a comprehensive set of forty recommendations to improve the City of Chicago’s long-term fiscal condition. The new Federation report includes reforms that can be implemented now and over the next few…
The purpose of this report is to provide the City of Chicago’s Mayor and City Council with detailed recommendations on ways to address the City’s serious financial challenges and create a government that is more efficient, less costly and…
Since Cook County passed its FY2011 budget in February 2011, it has been evident that the County’s public health system would face major hurdles…
The Illinois General Assembly reconvened on June 22, 2011 for an extra day of the spring session to sort out several issues that were not addressed three weeks ago when the legislature adjourned after approving a $33.2 billion budget. Both…
The decision by the Chicago Public Schools Board to rescind an annual wage increase to employees in the CPS union is the focus of this article. The Civic Federation says that the action is necessary in light of CPS' enormous budget deficit.
Despite a significant increase in Illinois’ corporate income tax rate enacted in January 2011, much of the anticipated new State revenue will be offset by corporate tax incentives provided in recent changes to the federal tax code. Known…
Although lawmakers have been considering ways to cut the State of Illinois’ costs for state retiree health insurance, the General Assembly adjourned on May 31, 2011 without taking action on the issue. A bill (…
A critical fiscal process for state and local governments is the planning and funding of capital projects. The literature on best practices for capital budgeting is not as robust as for operating budgets and there is significant variety in…
The cancellation of Chicago Park District Fourth of July fireworks displays due to costs is the focus of this article. The Civic Federation says the cancellation of the displays demonstrates the dire financial straits the City is in, but…
