Last week the Civic Federation blogged about the Metropolitan Water Reclamation District’s reaction to its estimated $24 million budget deficit. Specifically, we outlined Executive Director Richard Lanyon’s proposals to reduce this deficit, in part, by making changes to employee and retiree health benefits. Mr. Lanyon presented his cost-cutting plan to the Board and public at an August…
This editorial discusses the $551.3 million in additional borrowing charges that will be paid by State of Illinois taxpayers due to the State’s declining credit ratings.
This editorial puts into perspective the $551.3 million in extra debt service costs that Illinois taxpayers will pay due to recent downgrades to the State of Illinois’ credit ratings.
This article explores the effect that recent downgrades to the State of Illinois’ bond ratings will have on the State’s future debt service costs, as detailed in the Civic Federation’s “Cost of the Crisis” report.
This news article discusses the Civic Federation’s “Cost of the Crisis” report and the long-term effects of the State of Illinois’ borrowing.
This editorial discusses the finding in the Civic Federation’s “Cost of the Crisis” report that Illinois taxpayers will pay an additional $551.3 million in debt service due to recent downgrades in the State’s bond ratings.
Earlier this week the Institute for Illinois’ Fiscal Sustainability at the Civic Federation released a comparative analysis of the cost of the $9.6 billion in bonds the State of Illinois issued over the past year. The report estimated that the State might pay as much as $551.3 million in additional interest costs for only one year’s worth of borrowing because of its ongoing fiscal crisis…
The Metropolitan Water Reclamation District recently announced that it is facing a $24 million budget deficit for FY2011. After hearing a report of the FY2011 budget and the grim financial projection at a study session meeting held on July 8, 2010, MWRD Commissioners requested a list of possible cost-cutting measures. MWRD Executive Director Richard Lanyon provided a preliminary…
The Civic Federation’s “Cost of the Crisis” report is the focus of this article. The Federation says that because of the State of Illinois’ declining bond ratings, taxpayers may have to pay an additional $551.3 million in extra borrowing costs on recently secured debt.
In this blog post, Greg Hinz examines the Civic Federation’s “Cost of the Crisis” report that found Illinois’ declining bond ratings may cost the State $551.3 million in additional interest costs for debt issued between September 2009 and July 2010.
