Civic Federation Blog

05.15.13

Civic Federation Awards to Honor Harrison I. Steans and Motorola Solutions

The Civic Federation’s Annual Civic Awards Luncheon on Tuesday, June 11, 2013 will celebrate two honorees who exemplify the high standard of civic commitment that has come to define the City of Chicago, Harrison I. Steans and Motorola Solutions. The awards are named in honor of the prominent...

05.10.13

The Final 2012 Cook County Equalization Factor is 2.8056

The Illinois Department of Revenue has announced that the final equalization factor for the Cook County 2012 property assessment year (taxes payable in 2013) is 2.8056. The 2012 final equalization factor of 2.8056 is less than the final 2011 equalization factor of 2.9706. This does not mean that...

05.02.13

Chicago Parking Meter Lease Agreement Pending City Council Approval

On Monday April 29th, Mayor Rahm Emanuel announced that an agreement had been reached in the disputes between the City of Chicago and Chicago Parking Meters LLC (CPM), whose investors include Morgan Stanley, Allianz Capital Partners and Abu Dhabi Investment Authority. The agreement potentially...

04.25.13

Cook County STAR Report Shows Savings for FY2012

This blog reviews the 2012 4th Quarter STAR (Set Targets Achieve Results) report for Cook County’s performance management program. The blog compares FY2012 targeted expenditures and FY2012 actual costs as reported by participating County departments. In its 2010 Cook County Modernization...

04.17.13

CPS Proposes to Increase FY2013 Capital Budget by $363.7 Million

UPDATE: At its April 24, 2013 meeting, the Chicago Board of Education approved the District’s amended FY2013 capital budget. Original blog published on April 17, 2013 On April 6th Chicago Public Schools (CPS) released its plan for an amended FY2013 capital budget. The original FY2013...

04.11.13

Conference on Economic Development Explores Strategies for Difficult Fiscal Times

The Civic Federation joined with the Federal Reserve Bank of Chicago on April 4, 2013 to co-host a conference on economic development strategies during difficult fiscal times. Experts and practitioners from California, Michigan and the Chicago area led discussions of the opportunities and...

04.03.13

City's Quarterly Budget Report Shows Increased Revenues, Exhausted Claims and Judgement Budget

On February 20, 2012 Mayor Emanuel released the City of Chicago’s first quarterly budget report in order “to ensure more transparency and honesty in the City’s budgeting process.” The reports track the City’s revenues and expenditures as they align with the budget....

03.28.13

Working Capital in Large Cities

This blog continues the Civic Federation’s examination of indicators that can be used to measure the financial health of local governments. In order to measure financial condition, it is important to assess the direction and magnitude of changing ratios over time. The Federation is analyzing...

03.21.13

Anaheim Mayor to Speak at April 4th Economic Development Forum

The Civic Federation and Federal Reserve Bank of Chicago are pleased to announce that Tom Tait, Mayor of the City of Anaheim, California, will be speaking at our April 4th conference, “Managing Economic Development in Times of Economic Uncertainty.” As the Mayor and a former City...

03.13.13

Sergeants Reject Contract Proposed by City and Union Leadership

After the City and leadership of the Chicago Police Sergeants’ union agreed to a tentative contract that included pay raises and significant pension reforms, rank-and-file union members rejected the contract by a vote of 876-134 earlier this week. The contract would have been the first...