Government Budgets

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Estimated Full Value of Real Estate in Cook County Falls to Lowest Level Since 2001

(CHICAGO) The full market value of real estate in Cook County was approximately $414.4 billion in tax assessment year 2012 according to an annual estimate released today by the Civic Federation. The 2012 total value estimate represents a…

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Estimated Full Value of Real Property in Cook County: 2003-2012

This report provides estimates of the total market value of real property in Cook County from 2003-2012 and shows how property value is spread among the City of Chicago, the northern and the southern suburbs.The full market value of…

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Illinois Medicaid Legislation Increases Payments to Nursing Homes, Hospitals

Despite Illinois’ tight budget for the current fiscal year, the State enacted major Medicaid legislation featuring increased payments…

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City Releases Annual Financial Analysis for 2014: Budget Projections Do Not Include Increase in Police and Fire Pension Fund Payments

This week the City of Chicago released its Annual Financial Analysis for 2014. According to an…

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Emanuel’s 2015 budget puts off pension crisis for now

This article discuses an upcoming $550 million contribution to the City of Chicago’s police and fire pension funds. The City’s…

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Chicago’s day of reckoning over pensions delayed

This article discusses the City of Chicago’s 2014 Annual Financial Analysis released July 31, which reviews…

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Illinois' Revenues in FY2014 Exceed Expectations

According to recent reports, the State of Illinois’ operating revenues, which are expected to decline this year due to the partial rollback of State income tax rates,…

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CPS Balances its FY2015 Budget with Accounting Maneuver that Changes the Time Period Used to Recognize Revenues

CPS is balancing its budget in FY2015 in large part by shifting the time period used to report revenues from 30 to 60 days. This will allow the District to access $648.0 million in revenues that it would not otherwise have been able to use…

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Illinois’ Rating Reversed to Negative Due to Unbalanced Budget

Less than a month into the new fiscal year, which began on July 1, Standard and Poor’s announced that the financial outlook for the State has…

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Watchdog group shreds Chicago public schools' 'gimmick-based' budget

This column discusses the Civic Federation’s analysis of the FY2015 Chicago Public Schools budget. The Civic Federation could not support the budget because it…