The Civic Federation supports the Chicago Park District’s FY2011 proposed operating budget of $397.6 million. The District is proposing to hold the property tax levy flat and maintain expenditures at close to FY2010 levels by using operating efficiencies and personnel cuts. The District is also proposing to eliminate its $22.0 million budget deficit in part by using $12.0 million of TIF surplus…
The Chicago Park District is to be commended for holding its property tax levy flat for the sixth straight year, says a Civic Federation report released today. The District will rely on non-tax revenues and a slight cut in staffing levels to balance its proposed FY2011 budget of $397.6 million. While the Federation commends the District’s restraint, it is also concerned that an ongoing reliance…
The Civic Federation released today its analysis of the Chicago Park District’s proposed FY2011 budget of $397.6 million. The Federation supported the District’s budget, which represents an increase of only 1.5% from the previous year. The District is continuing to successfully pursue non-tax revenues, is holding the property tax levy flat for the sixth straight year and will have a…
The operating budget enacted by the State of Illinois for FY2011 is based on General Funds revenues projected to be slightly higher than last year’s, and so far actual monthly revenues appear to be on target to meet or exceed these expectations. This increase signals the State’s hope that FY2011 will be a transition year for economically sensitive revenues such as income taxes and sales taxes…
(CHICAGO) The final installment in the Civic Federation’s four-part educational series describing and evaluating the Cook County property tax system was published today. “The growing complexity of the property tax system in Cook County challenges even the most well-intended citizen,” said Laurence Msall, president of the Civic Federation. “With this series of primers, the Federation aims to…
This report describes basic principles of taxation and evaluates how these principles are manifested in the Cook County property tax system. The purpose of the report is descriptive, not prescriptive. It examines the operation of basic tax principles in the Cook County property tax system but does not recommend changes to that system. Click here to read the press release.
A new report by the Civic Federation’s Institute for Illinois’ Fiscal Sustainability (IIFS) shows why the State of Illinois is struggling to make its roughly $4 billion pension contribution in FY2011. The report reviews the State’s $53.5 billion operating budget for the current fiscal year, which began on July 1, 2010 and ends on June 30, 2011. The report focuses on the $25.8 billion…
(CHICAGO) The Civic Federation’s Institute for Illinois’ Fiscal Sustainability released a plain-English summary of the State of Illinois’ FY2011 enacted budget today. The 26-page report is available on our website, www.civicfed.org. “After months of hearing about changes to spending and borrowing plans, the people of Illinois are understandably confused about the State budget,” said Laurence…
This report examines the State of Illinois’ $53.5 billion operating budget for Fiscal Year 2011, which began on July 1, 2010 and ends on June 30, 2011. The report focuses on the $25.8 billion General Funds budget, the largest component of the total operating budget. It is designed to provide Illinois residents with a resource to understand expenditure and revenue trends at the State of Illinois.…
This article compares the different statements made by think tank organizations about the extent of Illinois’ fiscal issues. The Civic Federation says that while State employees are not overpaid, they do receive very generous retirement benefits.
