The Civic Federation supports the City Colleges tentative FY2015 budget totaling $723.5 million for reflecting the District’s continued commitment to sound financial practices and prudent planning. The FY2015 tentative budget holds the…
District continues dramatic improvement of its financial practices, planning In an analysis released today, the Civic Federation supports the City Colleges of Chicago’s proposed FY2015 budget of $723.5 million which reflects the District’…
This article covers Chicago Public Schools’ July 2 budget announcement, which includes a plan to count 30 days of FY2016 revenue toward the FY2015 budget to help fill a projected FY2015 deficit nearing $1 billion. The Civic Federation said…
This article discusses the budget plan announced by Chicago Public Schools July 2 that includes extending the period in which the District will collect property tax revenue by an additional 30 days to August. The Civic Federation said it…
On June 26, 2014, Cook County Board President Toni Preckwinkle issued a preliminary budget forecast for fiscal…
Despite criticizing the General Assembly for not passing an adequate budget for the new fiscal year, Governor Pat Quinn…
Under Illinois law, the State is required to share a certain portion of state income tax receipts with municipal and county governments…
The City of Chicago currently has the lowest rated credit of any major city in the country according to Moody’s Investors Service. At Baa1, the long-term bond rating is still several levels above…
This article discusses interest rate swaps made by Chicago that require the City to maintain a credit rating of at least Baa1, or financial institutions can terminate deals and demand payment. Chicago’s credit rating sits at Baa1 after…
In this clip Civic Federation President Laurence Msall discusses the FY2015 Budget passed by Illinois legislators May 30. The budget does not provide funding for a full fiscal year, and relies on borrowing and shifting revenue from FY2014…
