Editorial: Illinois to face even more financial realities
This editorial discusses the Civic Federation’s FY2014 State of Illinois Enacted Budget Analysis and the State’s lack of progress on passing pension reforms. The analysis says this year’s…
This editorial discusses the Civic Federation’s FY2014 State of Illinois Enacted Budget Analysis and the State’s lack of progress on passing pension reforms. The analysis says this year’s…
This article discusses recent developments from the seven-member legislative conference committee appointed by Governor Quinn to find a solution to the State’s…
Four large local government pension funds in the Chicago area reduced their expected investment rates of return for fiscal year 2012. While intended to make the funds’ actuarial assumptions more realistic, these decisions will also have…
This segment covers the release of the FY2014 Enacted Budget Analysis by the Civic Federation’s Institute for Illinois’ Fiscal Sustainability on October 2. The report warns this year’s…
This article discusses legislation backed by Mayor Emanuel that would delay funding reforms for the City’s severely underfunded police and fire funds. For…
This article discusses a proposal for the City of Chicago’s severely underfunded police and fire pension funds that would delay the date when the City is…
Over the next few weeks, many Chicago-area local governments will be releasing their proposed budgets for fiscal year 2014. In preparation for the upcoming budget releases, this blog will recap the Civic Federation’s significant…
Failure to address pension crisis, plan for upcoming revenue loss threatens to erase progress on State’s backlog of unpaid bills (CHICAGO) – An analysis released today by the Institute for Illinois’ Fiscal Sustainability at the Civic…
This analysis of the State of Illinois’ Fiscal Year 2014 Enacted Budget finds that the budget may represent a high-water mark, with future years bringing sharp reductions in revenues and further consequences of the unresolved pension…
Since July 2013 each of the six local governments monitored by the Civic Federation with General Obligation bond debt has experienced downgrades to their bond ratings. These governments are the City of Chicago, Cook County, the…