This article discusses the fiscal challenges facing Chicago Mayor-elect Rahm Emanuel. It cites a report by the Civic Federation that says the next mayor must make major fiscal reforms to correct the City's deteriorating finances.
This editorial about the State of Illinois' plan to borrow to pay down its past-due bills cites the Civic Federation, which says the plan is financially reckless.
For the second year in a row, the State of Illinois raised funds in the municipal bond market to make its annual pension contributions. On February 23, 2011, the State finalized the sale of $3.7 billion worth of Pension Obligation Bonds (POB) for FY2011. Similar to its FY2010 POB sale, Illinois’ bonds that sold last week were also oversubscribed, meaning more orders were placed for the…
On Saturday February 26th, the Cook County Board of Commissioners unanimously approved the FY2011 Annual Appropriations Ordinance. In the Civic Federation’s analysis of the Executive Budget Recommendation, the Federation supported Board President Preckwinkle’s budget plan and commended the administration for its efforts to reform governmental operations. The amended budget as approved by the…
This article discusses the Cook County Board of Commissioners vote to rollback the remaining portion of the 2008 penny sales tax increase by 2013. The Civic Federation says that the tax increase was established without a solid plan for how to use the revenue.
In this segment on Swiss Public Radio (in German) about Rahm Emanuel’s mayoral campaign, Civic Federation President Laurence Msall talks about the financial challenges the next mayor of Chicago must face.
This article discusses the City of Chicago mayoral election. It mentions that the Civic Federation’s “Financial Challenges for the New Mayor of Chicago” report is worth reading for information about the precarious condition of the City’s finances.
This article about the City of Chicago mayoral race and the challenges the next mayor will face cites a Civic Federation report that found that Chicago area governments’ unfunded pension liabilities total about $23 billion.
In this article about the market for Illinois bonds, the Civic Federation says that the State’s plan to borrow money to pay into its pension system is too expensive and that the State should consider cutting its costs if it cannot pay its pension contributions.
Civic Federation President Laurence Msall talks about the issues facing the next mayor of the City of Chicago in this news segment.
