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City of Chicago

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Pension Bonds: Lessons from the State of Illinois

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City of Chicago Reports Improved Fund Balance

The City of Chicago released its 2017 Comprehensive Annual Financial Report (CAFR) earlier this summer. This blog will examine the City’s Corporate Fund (i.e. General Fund) fund balance as a percent of general operating expenditures based…

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City of Chicago Passes Additional 2.0% Tax on Home Sharing

The Chicago City Council on July 25, 2018 approved a 2.0% surcharge on shared housing and vacation rentals in the City of Chicago. The 2.0% surcharge is in addition to an existing 4.0% surcharge on vacation rentals or shared housing units…

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Update: How the State of Illinois FY2019 Enacted Budget Will Affect Local Governments

Illinois Governor Bruce Rauner presented his…

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The Final 2017 Cook County Equalization Factor is 2.9627

The Illinois Department of Revenue announced last week that the final equalization factor for the Cook County 2017 property assessment…

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Selected Consumer Taxes in the City of Chicago - 2018

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How the Governor’s Proposed FY2019 Budget Would Affect Local Governments

Illinois Governor Bruce Rauner presented his annual budget address on February 14, 2018, outlining his…

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Civic Federation 2018 Legislative Priorities

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City of Chicago FY2018 Proposed Budget: Analysis and Recommendations

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What the New Illinois School Funding Formula Means for Chicago Public Schools

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…