Click here to read the full report. Click here to read the press release for this report. AT A GLANCE 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’…
The following blog post examines the possibility of the City of Chicago starting a public bank. It is intended for informational purposes only. The Civic Federation has not taken a position on the idea, which has been discussed during the run-up to the Chicago municipal election later this month. A public bank is a financial institution owned and operated by a government on behalf of its…
This article discussed Chicago Public Schools' $324 million surplus for fiscal year 2018, its first budget surplus in three years. Civic Federation President Laurence Msall said that the surplus is a positive sign and a result of the work CPS and Mayor Rahm Emanuel have done to secure additional aid from the State of Illinois. However, Mr. Msall cautioned that one year does not necessarily…
The Illinois General Assembly passed a budget for fiscal year 2019 on May 31, 2018 and Governor Rauner signed it into law on June 4, 2018. The Institute for Illinois' Fiscal Sustainability has since then continued to analyze the enacted State of Illinois budget, releasing periodic updates via the IIFS blog. All of the enacted budget content is gathered on this page for readers’ convenience.…
(CHICAGO) In an analysis released today, the Civic Federation announced its support for the Metropolitan Water Reclamation District’s tentative FY2019 budget of $1.09 billion. The full analysis is available here. As detailed in the report, the District continues to follow a number of financial best practices. These include developing a strong capital improvement plan, publishing a five-year…
Click here to read the full report. The Civic Federation supports the Metropolitan Water Reclamation District of Greater Chicago’s (MWRD) proposed FY2019 Tentative Budget of $1.09 billion. The District continues a proactive plan to fund the MWRD Retirement Fund annually at a level that is projected to reach 100% funding by 2050. The District also follows a number of other best…
Expresses serious concerns about the future of the District’s pension fund (CHICAGO) In an analysis released today, the Civic Federation announced its support for the Chicago Park District’s proposed FY2019 operating budget of $464.0 million. The full analysis is available here. As detailed in the report, the Civic Federation is encouraged that the District is developing a financially…
Click here to read the full report. The Civic Federation supports the Chicago Park District’s FY2019 proposed budget of $464.0 million because it continues to reduce reliance on prior year fund balance, implement savings and efficiencies and reduce the size of its workforce. Additionally, despite the Circuit Court of Cook County overturning the remaining pension reform provisions of Public…
When the State of Illinois enacted its budget for the current fiscal year in June 2018, it had a narrow surplus on paper of about $14 million. But a new report from the Governor’s Office estimates that the State’s actual financial result for FY2019 will be a budget deficit of more than $1 billion—a gap that could widen to $2.8 billion the following year without policy changes. The projected…
Organization also raises concerns about future revenue shortfalls (CHICAGO) In an analysis released today, the Civic Federation announced its support for the Forest Preserve District of Cook County’s full proposed FY2019 Executive Budget Recommendation of $204.8 million. The full analysis is available here. As detailed in the report, the District has worked to control costs in recent years by…
