This blog examines some of the long-term obligations of the City of Chicago and its overlapping local governments using a per capita indicator based on bonded debt and unfunded pension liabilities. Rating agencies and other financial…
A look back at the Civic Federation’s blog this year provides a preview of upcoming fiscal challenges for local governments in 2013. Pension Funding The most urgent fiscal challenge for Illinois governments continues to be the pension…
Last week marked the end of the budget season for the nine local governments monitored by the Civic Federation. These governments include: the City Colleges of Chicago, Chicago Public Schools (CPS), DuPage County, City of Chicago, Cook…
The Civic Federation supports the $410.9 million FY2013 Chicago Park District budget for limiting spending increases and continuing the District’s effort to eliminate its structural deficit by FY2015. By utilizing prudent alternatives to…
The Chicago Park District recently released its $410.9 million spending plan for FY2013. The District had identified a $16.0 million budget gap,…
UPDATE: On Thursday, August 16, 2012, Governor Quinn signed into law the changes to the Chicago Park District Pension Fund fiscal year as Public Act 097-0894…
On February 8, 2012, the Chicago Park District Board of Commissioners unanimously voted to provide the Institute of Puerto Rican Arts and Culture (IPRAC) $243,407 in funds from the District’s personal property tax replacement (PPRT)…
Data from the most recent audited financial statements of Illinois’ state and local government pension funds shows that the total unfunded liabilities for public employee pensions supported by the taxes of Chicago residents reached $14,…
In 2011 the IIFS blog provided weekly context, information and perspective on key fiscal issues in the State of Illinois. Posts in 2011 focused on analysis of FY2012 Illinois budget negotiations, analysis of the ongoing Illinois pension…
