This article discusses a proposal before the Illinois legislature’s personnel and pension committee to borrow $107 billion to put toward the $129 billion in unfunded pension liability. Civic Federation president Laurence Msall said that…
After stabilizing due to legislative changes, Illinois’ contributions to its severely underfunded retirement…
Following Mayor Rahm Emanuel’s FY2018 budget address, Civic Federation President Laurence Msall spoke with a pool of reporters on the City of Chicago’s finances. He said the Mayor’s budget is a reasonable plan that can move the City…
After several iterations and much disagreement, the State of Illinois now has a new statewide school funding formula. The Illinois General Assembly approved the new formula as Senate Bill 1947, House Floor Amendment 5 on August 29, with…
In this segment, Civic Federation President Laurence Msall discusses key aspects of the State of Illinois’ FY2018 budget and the challenges the State still faces. He says the most important aspect of Illinois having a budget is that it…
August 1, 2017 UPDATE: The City of Chicago released its Annual Financial Analysis for 2017 on July 31, 2017. The online content included with the report includes…
The State of Illinois ended its two-year budget impasse on July 6, 2017, enacting a $36.1 billion spending plan with about $5 billion in tax increases. To break the logjam, the General Assembly narrowly overrode Governor Bruce Rauner’s…
This article discusses the high interest rate that the Chicago Public Schools will have to pay on $387 million in loans that the District is using as a short-term fix for its financial crisis. Civic Federation President Laurence Msall…
This article examines the City of Chicago’s proposed short-term borrowing plan to prevent the Chicago Public Schools from ending the school year early. Civic Federation President Laurence Msall remarks that the District could pay a premium…
The following news items cover the release of the Institute for Illinois’ Fiscal Sustainability at the Civic Federation's analysis of Governor Rauner’s FY2018…
