This article discusses concerns in the bond market that the State of Illinois’ recent tax increase does not do enough to correct the State’s precarious finances. The Civic Federation says the bond market is especially concerned with Illinois’ debt load.
This editorial about the recent State of Illinois income tax increase, which includes an annual cap on spending, mentions a Civic Federation suggestion that the State should spend less than the cap and only up to available revenues.
In this segment of the "Chicago Tonight" news program, Civic Federation President Laurence Msall participates in a roundtable discussion about the State of Illinois' passage of a large income tax increase package.
This article is about the Forest Preserve District of Cook County’s FY2011 preliminary budget plans. The Civic Federation calls for the creation of a separate board of commissioners for the District, instead of the current system in which the same commissioners and president that oversee Cook County also oversee the District.
In discussions of the State of Illinois’ budget, no issue is more contentious—or more confusing—than recent spending trends. Simply stated, is Illinois spending more or less than it was two years ago? As previously indicated on this blog, the answer depends on what is meant by spending. According to preliminary information (available at MuniOs.com) provided by the State on January 21, 2011 in…
In its recently released analysis of the Forest Preserve District of Cook County’s FY2011 proposed budget, the Civic Federation reiterated its position that the District must create a separate board of commissioners.[1] The District is currently governed by double-duty Commissioners who also govern Cook County. This structure presents an inherent conflict of interest because of the competing…
The Institute for Illinois’ Fiscal Sustainability at the Civic Federation recently described how some State of Illinois pension bond proceeds could be transferred to the State’s General Funds and used for other operating purposes. The final legislation authorizing the state to borrow money in order to make its FY2011 pension contribution may open the door for the state to transfer some of the…
The Civic Federation supports the FY2011 Forest Preserve District of Cook County budget of $198.0 million, which includes both operating and capital expenditures. The proposed FY2011 budget represents a decrease of $236.3 thousand, or 0.1%, from the FY2010 proposed budget. We commend the District for holding its property tax levy flat at a time when Cook County residents are facing serious…
(CHICAGO) Even though the staff of the Forest Preserve District of Cook County completed and filed its budget three months ago and is now over three weeks into the 2011 fiscal year, the dual board of Commissioners that governs both the District and Cook County has taken no action to review or debate the spending plan. Unfortunately, this inattention is only the most recent example of the negative…
In addition to the tax increase and spending limits bill approved in the last hours of the 96th Illinois General Assembly, the legislature authorized a new round of pension borrowing with provisions that could lead to hundreds of millions in bond proceeds being transferred to the State’s General Funds and used for operations. Almost a year after the Governor proposed borrowing to make the State’s…
