Click here to read the full report. The Civic Federation’s Institute for Illinois’ Fiscal Sustainability is not able to support Governor Bruce Rauner’s recommended FY2019 budget because it is precariously balanced and its modest surplus relies on aggressive assumptions. Additionally, the proposal does little to address Illinois’ massive backlog of bills. While the Civic Federation is encouraged…
This article discusses the impact Illinois' gubernatorial election may have on the State's fiscal crisis, noting that the election's victor will have to address a $9 billion bill backlog, $129 billion in unfunded pension liabilities and a credit rating one step above junk. Civic Federation President Laurence Msall called the election "pivotal" and stressed that the next Governor of Illinois will…
Amid concerns about renewed political stalemate in Springfield, Illinois Governor Bruce Rauner on February 14, 2018 proposed a budget for the next fiscal year that relies on shifting State pension and health insurance costs to school districts and public employees. The budget recommendation for fiscal year 2019 also requires public universities and community colleges to pick up additional…
Illinois Governor Bruce Rauner presented his annual budget address on February 14, 2018, outlining his budget proposal for the State fiscal year 2019. The 2019 fiscal year begins on July 1, 2018 and ends June 30, 2019. The Civic Federation will release a full analysis of the Governor’s proposal in the coming months. This blog will focus on two key elements of the Governor’s budget proposal that…
Multiple Outlets The following news items cover the release of the Institute for Illinois' Fiscal Sustainability at the Civic Federation's State of Illinois FY2019 Budget Roadmap, which proposes a comprehensive multi-year plan to address the State's ongoing financial crisis and balance the State's budget. ----- Politico Illinois Playbook: CIVIC FED's reality check…
(CHICAGO) – In a report released today, the Civic Federation’s Institute for Illinois’ Fiscal Sustainability proposes a comprehensive five-year plan to stabilize the State’s finances. The Federation’s proposal would eliminate the State’s operating deficit in FY2019 and clear the multi-billion-dollar backlog of bills by FY2023, allowing the State to begin building a rainy day fund to protect…
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 balance the State's budget. While Illinois has…
2018 Civic Federation Legislative Priorities The Civic Federation's legislative priorities for 2018 include public employee pension reforms, consolidation of local government units in Illinois, enacting policies to rationalize the property tax system, creation of a Local Government Protection Authority, requiring the State of Illinois to build a…
The following are the five most read blog posts presented by the Institute for Illinois’ Fiscal Sustainability in 2017. These posts discuss issues ranging from Medicaid expansion to the end of Illinois’ historic two-year budget impasse and related legislation. A Review of Medicaid Expansion in Illinois under the Affordable Care Act January 12, 2017 Medicaid expansion was a key feature of the…
The financial condition of Illinois’ pension funds improved slightly due to strong investment returns, but they remained critically underfunded at the end of fiscal year 2017. The five State-funded retirement systems had total unfunded liability of $129.1 billion as of June 30, 2017, based on the market value of assets, and a combined funded ratio of 39.8%. That compares with unfunded liability…
