Privatization

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A private Taste on the table

This article explores Mayor Daley’s possible bid to close a City of Chicago budget gap by privatizing city services and special events such as the Taste of Chicago. The Civic Federation says Chicagoans may not experience many problems with…

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Daley considering more privatization

In this news segment about the possibility that the City of Chicago will privatize services such as the lakefront festivals and recycling to close a budget gap, Civic Federation President Laurence Msall says the plan is worth considering…

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City-Run Taste May Bite Dust

This article discusses the City of Chicago’s possible bid to privatize its lakefront festivals, recycling, and other services to bridge a budget gap. The Civic Federation says the City has already benefited from privatizing janitorial and…

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City studies options for $655 million budget hole

This article explores the challenges Mayor Daley faces in filling the City of Chicago’s $655 million budget gap. One of the options being considered involves using proceeds from the City’s recent privatization deals. The Civic Federation…

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Parking Meters Company Posts Profit While City’s Bank is Low

This news segment details how the City of Chicago had only $2.7 million in reserves at the end of FY2009. The Civic Federation says the City should have cash reserves of at least $200 million given the size of its operating budget.

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Civic Federation Blog Provides Rapid Response Analysis

The redesign of the Civic Federation website in July has provided the public, government officials, and the media better access to the Federation’s analyses of government services in Illinois. The regularly-updated Civic Federation blog…

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How Much Fund Balance is Too Much? Not Enough? Just Right?

All governments - whether states, cities or school districts - should place a portion of their general operating revenues in a general fund reserve or “rainy day” fund. These rainy day funds are savings accounts that governments can use to…

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Forest Preserve District of Cook County FY2010 Proposed Budget: Analysis and Recommendations

The Civic Federation supports the FY2010 Forest Preserve District of Cook County budget of $198.2 million because the District will reduce its property tax levy by $1.1 million and use a portion of its budget reserve funds, rather than…

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Protecting Proceeds From Long-Term Asset Leases

In two previous blog posts [here and…

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The “Long” and “Short” of City Asset Deals

In FY2010 the City of Chicago proposes to close a majority of its FY2010 $520 million budget deficit with proceeds it received from the long-term leases of its parking meters and the Chicago Skyway. This begs the question: how has the…