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…
The State of Illinois does not currently have a comprehensive policy on economic development incentives. Instead, the State offers a wide variety of financial incentives that reduce specific State or local tax burdens for businesses…
In recent years, the State of Illinois’ financial woes had been complicated by a massive backlog of unpaid income tax refunds. When the backlog was paid…
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…
An increase in the cigarette tax increase designed to provide additional funding for the Illinois Medicaid program generated more revenues than expected despite a drop in sales and hoarding of tax stamps prior to the effective date of the…
This article summarizes the Civic Federation’s support for the City Colleges FY2014 tentative budget. The budget holds the property tax levy flat, reduces unrestricted…
The Civic Federation supports the City Colleges tentative FY2014 budget totaling $657.0 million for continuing the District’s exemplary work to improve its financial and operational health. The FY2014 proposed budget holds the property tax…
