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…
After a yearlong stalemate, the State of Illinois finally saw a crack in its ongoing budget impasse on the last day of the fiscal year. The General Assembly rushed approval of bills authorizing a full year of preschool through high school…
The Chicago Public Schools faces a potentially devastating financial crisis. The elements of this crisis include: An FY2016 budget that was not balanced as it depended on the vague hope that the State of Illinois will provide $…
Short-term or current liabilities are financial obligations that must be satisfied within one year. They can include short-term debt, accounts payable, accrued payroll and other current liabilities. This blog post presents five-year…
The following are the five most read posts presented by the Civic Federation blog in 2015. These posts examine a number of closely followed local government issues, ranging from City and County taxes to Chicago pension debt. …
FY2016 Budget Season Summary December 3, 2015 marked the end of the budget season for the eight local governments monitored by the Civic Federation. These governments include: the…
