The State of Illinois recently enacted legislation designed to close a $1.6 billion budget gap for the fiscal year ending on June 30, 2015. This blog post reviews the causes of the operating deficit and examines Public Acts…
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 12-year trends…
This article looks at both mayoral candidates’ proposals for addressing the City of Chicago’s financial challenges, which include severely underfunded pension funds, a high debt level and Chicago Public Schools’ $1 billion deficit. The…
This article analyzes the health of the financial reserves of 90 northeastern Illinois suburbs in response to Governor Rauner’s FY2016 budget proposal that included reducing municipalities’ shares of State Income Tax revenues. The Civic…
Alongside his first operating budget proposed for the State of Illinois, Governor Bruce Rauner also recommended a capital budget for FY2016 that proposes shifting previously vetoed spending authority to pay for delayed maintenance at State…
This article discusses the budget Governor Rauner proposed earlier in February, which closes a $6.2 billion budget gap through program reductions and a pension reform proposal. The piece cites recommendations from the Civic Federation’s…
In his first budget proposal for the State of Illinois, Governor Bruce Rauner recommended more than $4 billion in spending cuts and $2.2 billion in estimated pension savings to close a projected budget gap of over $6 billion in fiscal…
The Chicago Public Schools audited financial statements for fiscal year 2014 released last week indicate the deterioration of the District’s fiscal condition continued through the end of FY2014. The District’s most recent Comprehensive…
This article reviews Mayor Emanuel’s first term in office prior to Chicago’s upcoming municipal election. The Civic Federation said the Emanuel administration has made significant strides in improving the City’s financial position…
