(CHICAGO) The Civic Federation’s Illinois research institute warns that a large tax increase alone has not fixed the state’s broken budget. The Federation’s new FY2012 Budget Roadmap, released ahead of Governor Quinn’s budget address,…
Prior to the release of the Governor’s annual budget recommendation the Institute for Illinois’ Fiscal Sustainability at the Civic Federation releases an analysis of the State of Illinois’ fiscal condition and actionable recommendations…
This report identifies the most significant financial challenges facing the City of Chicago and provides recommendations to the new Mayor of Chicago for ways to improve and stabilize the City’s finances in the short- and long-term. Those…
The new Mayor of the City of Chicago faces three major fiscal challenges that will require the immediate attention of the new administration, according to a new report released today by the Civic Federation. The daunting difficulties…
This article is about City of Chicago mayoral candidate Rahm Emanuel’s plans to fix the City’s budget gap and pension funding issues. The Civic Federation says the City’s financial condition is precarious and the next mayor will need to…
In this article about the City of Chicago’s plan to incur debt to pay City firefighters back pay, the Civic Federation says that borrowing funds to pay for operating costs is expensive and demonstrates a lack of financial planning.
This article examines the City of Chicago Inspector General’s revelation that unpaid furlough days taken by City employees to help bridge a City budget gap may have also contributed to a shortchanging of the City’s pension systems. The…
The State of Illinois is anticipating a large increase in revenues from income tax rate increases approved in January and additional resources from borrowing to make its pension payment for the second year in a row. Even so, the Governor…
The staff and President of the Forest Preserve District of Cook County filed a FY2011 proposed budget for review by the District’s governing board on October 6, 2010, almost three months before the start of the new fiscal year on January 1…
