This article is about the Metropolitan Pier and Exposition Authority’s plans to restructure its debt because of declining tourist revenue. The Civic Federation says that the State of Illinois should look closely at the Authority’s plans because they have the potential of increase the State’s debt obligations.
In this blog post, Crain’s Chicago Business columnist Greg Hinz examines the findings of an analysis conducted by the Civic Federation’s Institute for Illinois’ Fiscal Sustainability’s of the FY2010 enacted State of Illinois budget, focusing on the projected two-year budget deficit of $12.8 billion.
This article considers the possible privatization of the Illinois tollway system as a way of increasing funds for capital investment across the State. The Civic Federation is quoted saying that leasing an asset can bring in much-needed funds; however, without adequate public scrutiny, a deal could turn problematic.
This article examines the State of Illinois’ plan to sell $1 billion in Build America Bonds to raise funds for capital projects. The article mentions that Illinois will have a two-year deficit going into FY2011 of $12.8 billion as reported by the Institute for Illinois’ Fiscal Sustainability at the Civic Federation in its recent analysis of the State’s FY2010 enacted budget.
This article discusses how the Cook County Health and Hospital System ended 2009 $42 million under budget. The Civic Federation says that the Health System is showing progress under its new management and board.
The State of Illinois has unveiled more details about its plan to enroll elderly and disabled Medicaid recipients in health maintenance organizations (HMOs) and has announced that the plan is expected to save taxpayers nearly $200 million over five years. The new details about the HMO plan came in a Request for Proposals (RFP) issued on Friday, February 5, 2010. The State’s Department of…
Although the Governor and General Assembly enacted laws to provide for ethics reform and campaign finance reform last year, much needed fiscal reform of the State’s budget has yet to make it to the top of the legislative agenda in Illinois. Despite facing a massive budget shortfall from FY2009 and the looming specter of failing revenues, last year the General Assembly enacted a budget for FY2010…
On February 7 the Chicago Transit Authority (CTA) will implement layoffs and service reductions intended to reduce its FY2010 operating costs by $95.6 million. The Authority, which faced a $300.9 million deficit when crafting its FY2010 operating budget, will lay off 1,100 employees and offer less frequent service on 119 bus routes and seven train lines. The Authority’s other deficit reduction…
The Civic Federation’s Institute for Illinois’ Fiscal Sustainability recently released its examination of the State of Illinois’ enacted FY2010 budget. The analysis shows that the State already faces a two-year budget deficit going into FY2011 totaling at least $12.8 billion but it also revealed that the Governor plans to spend an addition $885 million before the fiscal year ends on June 30. If…
This article explains how CTA President Richard Rodriguez has reduced the number of managers and personnel costs at the Authority. The Civic Federation is quoted commending Rodriguez’s moves to reduce spending, but expressed concern that the loss of too many top-level managers may hurt the Authority’s operations.
