Illinois State Actuary Releases First Report on the Chicago Teachers’ Pension Fund
Public Act 100-0465, which overhauled the State of Illinois’ school funding formula and made …
Illinois has by far the greatest number of local governments in the nation at 6,963, according to the U.S. Census Bureau’s 2012 Census of Governments. The vast number of local governments in Illinois is often cited as a driving factor for…
After several iterations and much disagreement, the State of Illinois now has a new statewide school funding formula. The Illinois General Assembly approved the new formula as Senate Bill 1947, House Floor Amendment 5 on August 29, with…
Click here to read the full report. The Civic Federation opposes the Chicago Public Schools’ proposed $5.7 billion operating…
Chicago Public Schools (CPS) recently adopted its second amended budget of the 2017 fiscal year in an effort to balance its budget and close a $215.2 million hole before its fiscal year ends on June 30, 2017. Chicago Public Schools…
On November 16, 2016, Chicago Public Schools (CPS) released an amended FY2017 budget plan based on the contract agreement reached between the District and…
This brief, developed by a Civic Federation Task Force, features a number of recommendations on ways the Chicago Public Schools can increase government transparency and accountability, including transparency in meetings, website…
In 2012 the Governmental Accounting Standards Board (GASB) issued new accounting and financial reporting standards for public pension plans and for governments,…
The Chicago Board of Education approved a reinstated dedicated pension levy as part of the Chicago Public Schools (CPS) FY2017 budget on August 24, 2016. The…
The Civic Federation cannot support the Chicago Public Schools proposed $5.46 billion budget because it effectively remains out-of-balance by relying on uncertain funding and one-time measures in order to close a $1.1 billion operating…