Structurally balanced plan based on shared sacrifice by union members, riders and CTA management In an analysis released today, the Civic Federation strongly supports the Chicago Transit Authority’s (CTA) proposed FY2013 operating budget of approximately $1.4 billion. The structurally balanced plan is based on shared sacrifice by union members, riders and CTA management. The full 42-page…
Civic Federation cautions use of one-time revenues could undermine deficit reduction efforts In a report released today, the Civic Federation announced its support for the Chicago Park District’s proposed FY2013 budget of $410.9 million which limits spending increases and continues the District’s plan to eliminate its structural deficit by FY2015. The full 51-page analysis is available at…
The Civic Federation supports the $410.9 million FY2013 Chicago Park District budget for limiting spending increases and continuing the District’s effort to eliminate its structural deficit by FY2015. By utilizing prudent alternatives to raising taxes, the District is able to hold its property tax levy relatively flat for the eighth consecutive year. The Civic Federation remains concerned,…
The Institute for Illinois’ Fiscal Sustainability released a new report today that provides an overview of the condition and funding of Illinois infrastructure. As discussed in a previous post, one of the report’s functions is to compile needs assessments from a number of public agencies to provide an aggregate evaluation of the state of Illinois’ infrastructure, from drinking water to roads to…
This report provides an overview of the condition and funding of Illinois infrastructure based on a compilation of various needs assessments from public agencies that manage infrastructure in the State including the Illinois State Toll Highway Authority, the Regional Transportation Authority, the Metropolitan Pier and Exposition Authority and the Illinois Sports Facilities Authority. The Civic…
The Chicago Park District recently released its $410.9 million spending plan for FY2013. The District had identified a $16.0 million budget gap, which it proposes to close with district-wide shut-down days, position eliminations, refinancing debt and some revenue enhancements. In addition, the District plans to use approximately $10.7 million in General Fund fund balance and prior year resources…
In a report released today, the Civic Federation supports the $190.3 million proposed FY2013 Forest Preserve District of Cook County budget for its discipline in identifying non-tax revenue sources as an alternative to increasing the property tax levy. The proposed budget also maintains the District’s substantial reserves. The full 60-page report is available at civicfed.org. “President…
The Civic Federation supports the Forest Preserve District of Cook County’s FY2013 proposed $190.3 million budget for its discipline in identifying non-tax revenue sources to hold the property tax levy flat for the fourth year in a row while maintaining substantial reserves. While the District’s overall budget demonstrates continued fiscal discipline, the Civic Federation is concerned about…
In its second annual report issued earlier this month, the Illinois’ Budgeting for Results Commission called for the elimination or replacement of mandated expenditures including statutorily required boards and commissions, program initiatives, fund transfers and other expenditures currently required under Illinois law but judged to be outdated or obsolete. Mandated expenditures direct agencies…
As highlighted in the Civic Federation’s analysis of the proposed FY2013 City of Chicago budget and discussed in last week’s blog post, Chicago faces difficult choices due to the continued decline of its four pension funds. The Police and Fire pension funds have the lowest actuarial funded ratios at 35.6% and 28.3%. The funded ratio shows the percentage of pension liabilities covered by assets.…
