FY2016

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Chicago Settling $390 Million Tab When City Can Least Afford It

This article discusses the Chicago City Council authorizing up to $200 million of bonds to help pay termination fees to exit swaps linked to its water debt. Civic Federation President Laurence Msall noted that, while this helps the city…

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Emanuel’s risky pension assumption forces city to borrow $220M

This article reports on payments made to Chicago's police and fire pension funds using $220 million in short-term borrowing. Laurence Msall, President of the Civic Federation, called the borrowing an unfortunate, expensive, yet…

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Register Now for “Medicaid Expansion and the Affordable Care Act: A Fiscal Checkup”

The Civic Federation is proud to partner with the Federal Reserve Bank of Chicago to co-host "Medicaid Expansion and the Affordable Care Act: A Fiscal Checkup,” The event will take place on Monday, April 4, 8 a.m.-1:30 p.m. in the…

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Retired Lincoln-Way schools chief gets state's biggest teachers pension: $312,081

This article examines the costs of high pensions paid to former school district administrators in Illinois.  Laurence Msall, President of the Civic Federation, notes that these are a prime example of why the State continues to need…

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The Watchdogs: Pension funds lost millions on deals

This article reports on a real estate investment made on behalf of five of Chicago’s public pension plans, which resulted in significant losses for those plans. Civic Federation President Laurence Msall comments on the lost investment and…

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Selected Consumer Taxes in the City of Chicago

This annual brief provides a compilation of selected consumer taxes, including rates and descriptions, in place in the City of Chicago as of May 1, 2016. It includes such taxes as the sales tax, amusement tax, lease tax, hotel tax,…

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Editorial: "A reasonable blueprint"

This editorial discusses the eight-month Illinois budget impasse, calling on Illinois General Assembly leaders to aid in passing a budget. The Civic Federation’s

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The Watchdogs: Extra cost of CTA pension express: $2.7M in fees

This article reports on the Chicago Transit Authority’s costly pensions and associated fees for investment, actuarial and legal services. Laurence Msall, President of the Civic Federation, discusses the disadvantages of the CTA’s current…

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Understanding the First Installment Property Tax Bill

On January 25, 2016, the office of the Cook County Treasurer mailed the first installment of the property tax bill to all homeowners in Cook County which is due on March 1, 2016. The bill lists all taxing districts to which property taxes…

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State Bond Costs Increase After Downgrades

Based on available market data, the State of Illinois paid approximately $40 million more for the $480 million of new bonds it sold in January than it would have before its bond ratings were downgraded at the end of last year. As…