The Chicago Public Schools faces a potentially devastating financial crisis. The elements of this crisis include: An FY2016 budget that was not balanced as it depended on the vague hope that the State of Illinois will provide $…
This segment reports on the State of Illinois paying more than $900 million in penalties for late bill payments in the past six years, which is highlighted in the Civic Federation’s…
This article explains that the City of Chicago has yet to provide alternative reforms for two of its pension funds after an Illinois Supreme Court ruling overturned the City’s previous reform plan. Civic Federation President Laurence Msall…
This editorial reports on findings included in the Civic Federation’s recent analysis of Governor Rauner’s FY2017 proposed budget and…
The State of Illinois can add another complication to its already stressed financial condition, an $800.7 million shortfall in its capital spending plan caused by failure in several of the dedicated revenue sources enacted to fund debt…
This article discusses the Civic Federation’s recent analysis of Governor Rauner’s FY2017 proposed budget for the State of Illinois that…
The City of Chicago and Cook County recently joined a number of states nationwide in a move to exempt female hygiene products from the sales tax. At the Local Level On March 16, 2016 the Chicago City Council…
The State of Illinois’ budget impasse could cost taxpayers another $138 million due to liabilities associated with its swaps portfolio, if the lack of a spending plan causes its bond ratings to fall much further. As previously…
This article discusses the City of Chicago’s billion-dollar plan to build the George Lucas Museum of Narrative Art that will require borrowing and tax increases. Laurence Msall, President of the Civic Federation, explains that until an…
This article reports on Illinois Comptroller Leslie Munger addressing the budget impasse by delaying paychecks to lawmakers until the stalemate is resolved. Civic Federation President Laurence Msall remarks that the Comptroller’s plan…
