Civic Federation urges governor and legislators to pass comprehensive, balanced budget (CHICAGO) – In a report released today, the Civic Federation’s Institute for Illinois’ Fiscal Sustainability announced it cannot support Illinois Governor Bruce Rauner’s recommended budget for FY2018 because it has an operating deficit of at least $4.6 billion and does not address Illinois’ massive backlog of…
Click here to read the full report. The Civic Federation’s Institute for Illinois’ Fiscal Sustainability not able to support Governor Rauner’s recommended FY2018 budget because it has an operating deficit of at least $4.6 billion, presents an insufficiently detailed plan for closing the gap and does not address Illinois’ massive backlog of bills. In addition to analyzing the recommended…
This article discusses a recent Illinois Senate Appropriations Committee hearing where legislators heard testimony regarding the State’s continued spending far in excess of its known revenues due to the absence of a budget. During his testimony, Civic Federation President Laurence Msall highlighted recommendations from the Federation's State of Illinois FY2018 Budget Roadmap, which presents a…
In addition to many other obstacles to achieving a balanced budget, Illinois now faces another setback this week, this time in the form of under-performing revenues. A report issued by the Commission on Government Forecasting and Accountability (COGFA) revised the agency’s earlier forecast of FY2017 General Funds revenues down by $674 million. The first forecast, issued in July 2016, had…
This segment discusses the possible sale of the State of Illinois’ James R. Thompson Center. Laurence Msall, President of the Civic Federation, says that the sale of the building could be a positive development for the State but also explains that the generated funds would do little to close Illinois’ $5 billion budget deficit.
The following news items cover the release of the Institute for Illinois’ Fiscal Sustainability at the Civic Federation's State of Illinois FY2018 Budget Roadmap, which proposes a comprehensive multi-year plan to address the State’s ongoing financial crisis and budget impasse with painful but necessary spending limits and revenue enhancements. ----- Chicago Tribune: Morning Spin:…
(CHICAGO) – In a report released today, the Civic Federation’s Institute for Illinois’ Fiscal Sustainability proposes a comprehensive five-year plan that addresses the State’s ongoing financial crisis and budget impasse with painful but necessary spending limits and revenue enhancements. The full 57-page report is available here. While Illinois has gone more than 19 months without a…
Click here to read the full report. Prior to the release of the Governor’s annual budget recommendation, the Institute for Illinois’ Fiscal Sustainability at the Civic Federation releases an analysis of the State of Illinois’ fiscal condition. This report presents the Civic Federation’s multi-year plan to stabilize Illinois’ finances and addresses the State’s critical financial situation.…
This article discusses Illinois Attorney General Lisa Madigan’s motion to stop State of Illinois workers from being paid in the absence of a State budget. Civic Federation President Laurence Msall remarks that Illinois’ constitution is clear in stating that the State cannot pay its workers without an appropriation.
The following are the five most read blog posts presented by the Institute for Illinois’ Fiscal Sustainability in 2016. These posts discuss issues ranging from penalties on Illinois’ overdue bills to the ongoing state budget impasse. Penalties on Overdue Bills Add Up for State of Illinois February 17, 2016 This post highlights the interest penalties that the State of Illinois pays due to…
