Chicago Public Schools

October 11, 2013

Capital Planning Overview: State and Local Government Summary

As part of its ongoing analysis of State and local government budgets, the Civic Federation also reviews proposed capital budgets along with any planning documents provided in support of infrastructure investments. Although many…

October 9, 2013

Local Government Pension Funds Lower their Expected Investment Rates of Return for FY2012

Four large local government pension funds in the Chicago area reduced their expected investment rates of return for fiscal year 2012. While intended to make the funds’ actuarial assumptions more realistic, these decisions will also have…

October 3, 2013

Local Government Budgets: What to Watch for in 2014

Over the next few weeks, many Chicago-area local governments will be releasing their proposed budgets for fiscal year 2014. In preparation for the upcoming budget releases, this blog will recap the Civic Federation’s significant…

September 26, 2013

Six Chicago-Area Local Government Bond Ratings Downgraded in Three Months

Since July 2013 each of the six local governments monitored by the Civic Federation with General Obligation bond debt has experienced downgrades to their bond ratings. These governments are the City of Chicago, Cook County, the…

August 21, 2013

State Funding for Chicago Public Schools

At the end of the month, the Board of Education for Chicago Public Schools will vote on the District’s $5.6 billion operating budget for FY2014. The total budget of $6.6 billion is supported by local, state and federal revenues and other…

August 21, 2013

Chicago Public Schools FY2014 Proposed Budget: Analysis and Recommendations

The Civic Federation does not support the Chicago Public Schools (CPS) proposed $6.6 billion operating budget for FY2014, which completely draws down unrestricted reserve funds and uses some restricted reserves to close a $977 million…

May 22, 2013

Civic Federation Releases Status of Local Pension Funding FY2011 Report

This week the Civic Federation released its annual Status of Local Pension Funding report. The purpose of this report is to compile and analyze basic…

May 20, 2013

Status of Local Pension Funding Fiscal Year 2011

Chicago-area public employee pension funding levels dropped significantly in FY2011, with unfunded liabilities for the ten funds analyzed rising to $32.0 billion from $27.4 billion in FY2010, an increase of 16.7% according to the most…

April 17, 2013

CPS Proposes to Increase FY2013 Capital Budget by $363.7 Million

UPDATE: At its April 24, 2013 meeting, the Chicago Board of Education approved the District’s amended FY2013 capital budget. Original blog published on April 17, 2013 On April 6th Chicago Public Schools (CPS) released its…

February 27, 2013

Chicagoans' Long-Term Debt and Pension Obligations Per Capita Rose 185% Since 2002

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…