Civic Federation Blog Archive: August 2011

08.31.11

Volatile PPRT Revenue Should Not Be Relied on for Local Government Operating Budgets

  Illinois’ Personal Property Replacement Tax (PPRT) is a revenue source for local governments that was created by the General Assembly in 1979 to replace a tax on the personal property of businesses that was abolished pursuant to the 1970 Illinois Constitution Article IX Section 5....

08.23.11

Fund Balance Variance at Chicago Public Schools

On Monday the Civic Federation released its analysis of Chicago Public Schools $5.9 billion FY2012 budget proposal. The Federation supports the proposal as it provides a reasonable short-term plan to fund the District’s core educational mission during its difficult, deepening financial crisis...

08.17.11

Why Will the Chicago Public Schools’ Pension Contribution Spike in 2014?

In its fiscal year 2012 budget proposal, the Chicago Public Schools administration provided for the first time a three-year projection of its future financial situation on page 9. The projection shows that the total CPS employer pension contribution is expected to jump from $219.3 million in FY2013...

08.16.11

Update: Plan to Close Oak Forest Hospital Approved

After twice rejecting the plan, a State of Illinois board voted on August 16, 2011 to allow Cook County to close Oak Forest Hospital. The Illinois Health Facilities and Services Review Board approved the proposal by a vote of 7 to 1, with one member voting present. It was the first time that the...

08.11.11

Call for Nominations: The 20th Annual Motorola Solutions Foundation Excellence in Public Service Award

The Motorola Solutions Foundation and the Civic Federation are again teaming up to honor Illinois’ many outstanding public servants with the 20th Annual Excellence in Public Service Award. We need your nominations to help us identify the best and brightest non-elected government employees...

08.10.11

Cook County Health System’s FY2011 Budget Deficit Likely to Exceed $90 Million

A recent mid-year report issued by Cook County provides more details on the budget difficulties facing the County’s public health system in the 2011 fiscal year that ends on November 30, 2011.

08.10.11

The Final 2010 Cook County Equalization Factor is 3.3000

The Illinois Department of Revenue announced today that the final equalization factor for the Cook County 2010 property assessment year (taxes payable in 2011) is 3.3000. The final equalization factor was calculated after the Cook County Board of Review finished hearing appeals and certified...

08.03.11

OpEd: City Colleges of Chicago earns high marks for fiscal prudence

The following opinion piece by Civic Federation President Laurence Msall appeared in the August 1, 2011 edition of Crain’s Chicago Business. Recently, a government official was quoted in Crain's asking, “Is the Civic Federation ever happy?”

08.02.11

Chicago Teachers’ Pension Fund Accrued $5 Billion of Unfunded Liabilities in Ten Years

The Chicago Teachers’ Pension Fund accumulated nearly $5.4 billion in unfunded obligations over the past ten years. This was an increase of over 10,000%, from $5.1 million in FY2001 to $5.4 billion in FY2010. In three years alone, from FY2008 to FY2010, unfunded liabilities grew by $2.3...