October 22, 2014 - 10:17am


October 22, 2014

The total unfunded liabilities for the State and local public employee pensions that Chicago residents fund reached $19,579 per capita for fiscal year 2012. That is up from $6,175 per capita in FY2003.


We welcome any questions and feedback about the content of this blog. Please e-mail blog@civicfed.org with your query.

October 15, 2014

Chicago Tribune

Chicago Tribune
October 15, 2014

This article reviews the FY2015 Budget Announcement from Chicago Mayor Rahm Emanuel. The spending plan is built on the assumption that the Illinois General Assembly will enact pension reform for the City’s police and fire pension funds before the City’s required annual pension contribution increases by $550 million in 2016. The Civic Federation said the City needs an alternate plan for addressing the underfunded pension systems.

October 15, 2014

Reuters

Reuters
October 15, 2014

This article discusses Mayor Rahm Emanuel’s FY2015 Budget announcement for the City of Chicago on October 15. The Civic Federation said the budget is fairly conservative in addressing the city’s $297 million deficit, but lacks a detailed, long-term plan for addressing the City’s underfunded police and fire pension systems.   

October 15, 2014 - 3:40pm


October 16, 2014

Whether the State of Illinois has spent more or less on education in the last five years has recently been the subject of intense debate. This blog post examines various factors that affect the calculation of education spending trends and expands on the Civic Federation’s recent report on the State’s enacted budget for FY2015.


We welcome any questions and feedback about the content of this blog. Please e-mail blog@civicfed.org with your query.

October 15, 2014 - 10:36am


October 16, 2014

Since the release of our 2012 Effective Tax Rates report on September 29th the Civic Federation has fielded many inquiries about how to calculate the rates for municipalities outside the study. In response, this blog will go through the steps to calculate an effective tax rate for tax year 2012 (taxes payable in 2013) and provide links taxpayers can follow to gather the data they need to estimate effective rates in their own communities.


We welcome any questions and feedback about the content of this blog. Please e-mail blog@civicfed.org with your query.

October 10, 2014

The Bond Buyer

The Bond Buyer
October 10, 2014

(The full content of this article is only available to the publication’s subscribers.)

This article discuses findings in the FY2015 State of Illinois Enacted Budget analysis recently completed by the Institute for Illinois’ Fiscal Sustainability at the Civic Federation. The analysis found that while General Funds expenditures appear to decline in FY2015, net expenditures actually increase by $528 million due to shifting funds from year to year and between State accounts.

October 9, 2014

Reuters

Reuters
October 9, 2014

This article reviews the FY2015 State of Illinois Enacted Budget analysis by the Civic Federation’s Institute for Illinois’ Fiscal Sustainability. The analysis found the budget relies on borrowing and will increase the State’s backlog of unpaid bills to an estimated $6.4 billion, marking the first year-end increase in the backlog since FY2012.

October 9, 2014 - 2:41pm


October 9, 2014

Municipal bankruptcies are very rare but a spate of filings, including the largest municipal bankruptcy in U.S. history by the City of Detroit, and ongoing municipal budgetary stress around the country has led to discussions of what, if anything, states should do to assist distressed cities.  This blog will provide an overview of current state statutes that govern fiscally stressed municipalities and other units of local government in Illinois.


We welcome any questions and feedback about the content of this blog. Please e-mail blog@civicfed.org with your query.

October 9, 2014

This analysis finds that the State of Illinois' FY2015 enacted budget represents a return to unsustainable fiscal practices including borrowing for operations and underfunding known costs. This spending plan will increase Illinois’ backlog of unpaid bills to $6.4 billion at the end of FY2015, the first year-end increase since FY2012. Additionally, the budget fails to fund nearly $500 million in known expenses, including payroll, which will require either a supplemental appropriation in FY2015 or a shutdown of programs.  

October 9, 2014
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