The Civic Federation supports the Chicago Park District FY2012 Budget of $407.5 million because it holds the property tax levy flat for the seventh year in a row and emphasizes cost containment and revenue diversification. The Federation supports the District’s development of a fund balance policy and its efforts to eliminate the structural deficit through a multi-year plan. While we support the…
(CHICAGO) The Civic Federation announced today that it offers conditional support for the proposed tentative FY2012 Metropolitan Water Reclamation District of Greater Chicago (MWRD) budget of $1.0 billion. The full 41-page analysis is available at civicfed.org. “While the Federation supports many aspects of the budget, including reductions in operational and personnel expenditures and proposed…
The Civic Federation offers conditional support for the Metropolitan Water Reclamation District’s (MWRD) FY2012 Tentative Budget of $1.0 billion. The Federation is concerned that the budget proposes the maximum increase to the property tax levy and does not comply with the District’s own fund balance policy. The proposed reforms to pension funding that have the support of the Retirement Fund…
As previously discussed here, many controversial issues confronted the Illinois General Assembly as it entered its fall veto session. Pension reform, gambling expansion, tax incentives for corporations, the Governor’s budget vetoes and a list of pending facilities closures all loomed large on the fall legislative agenda. The session was originally scheduled for October 25 through October 27 and…
(CHICAGO) The Civic Federation supports the $195.0 million proposed FY2012 Forest Preserve District of Cook County budget because it holds the property tax levy flat during a period of ongoing financial hardship for Cook County residents and takes steps toward more effective personnel management. The full 51-page analysis is available at civicfed.org. In the analysis, the Civic Federation…
The Civic Federation supports the Forest Preserve District of Cook County FY2012 Executive Budget Recommendation totaling $195.0 million, which includes both operating and capital expenditures. We commend the District for holding its property tax levy flat during a period of continued financial hardship for many Cook County residents and for taking steps toward more effective personnel management…
The State of Illinois’ statutorily required contributions to its five retirement systems will be $535.0 million higher than expected in FY2013, partly due to the impact of a pension reform law enacted in 2010. Required FY2013 state contributions to the five systems had been projected to total approximately $5.333 billion, based on actuarial valuation reports as of June 30, 2010. The retirement…
This article explains how employers in some states, including the State of Illinois, must pay higher taxes as a result of their state not paying back loans made by the Federal government to fund unemployment programs. The State of Illinois is issuing bonds to pay back the $2 billion debt, but employers will not see lower taxes until 2012. The Civic Federation says issuing bonds is…
In a panel discussion, Civic Federation President Laurence Msall discusses the City of Chicago City Council’s approval of Mayor Rahm Emanuel’s first City budget.
This article discusses the challenges facing City of Chicago Mayor Rahm Emanuel in negotiations with the City’s unions. The Civic Federation says that Mayor Emanuel has made significant cuts and increased revenue and thus made a major dent in the structural deficit in the City’s budget.
