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…
This segment discusses a lawsuit filed by Illinois legislative leaders over Governor Quinn’s July veto that withholds pay from lawmakers until pension reform legislation is passed. The Civic Federation said the underlying issue of the…
The blogs for this week and next week will examine the long-term obligations of six selected municipalities in Illinois and their overlapping local governments using per capita indicators based on unfunded pension liabilities and bonded…
In this segment, Civic Federation President Laurence Msall discusses the findings of the Federation’s FY2014 Chicago Public Schools Budget Analysis. The Civic Federation…
This editorial discusses the need for pension reform for Chicago Public Schools and District officials’ failure to detail a pension plan. The editorial cites the Civic Federation’s…
This article covers the release of the Civic Federation’s FY2014 Chicago Public Schools Budget Analysis. The Civic Federation did not support the budget, which completely…
This article discusses key findings from the Civic Federation’s FY2014 Chicago Public Schools Budget Analysis. The District’s financial situation continues to deteriorate…
The Civic Federation does not support the Chicago Public Schools (CPS) proposed $6.6 billion operating budget for FY2014, which completely draws down unrestricted reserve funds and uses some restricted reserves to close a $977 million…
(CHICAGO) In an analysis released today, the Civic Federation withholds support for the Chicago Public Schools (CPS) proposed $6.6 billion budget for FY2014, which closes a $977 million budget deficit with a complete drawdown of…
