Issues: Local Government Pensions
The Civic Federation believes that public pension systems must be sustainably funded and well-managed. The Federation’s national reputation for expertise in pension funding and reform has been earned through years of in-depth research and analysis of employee retirement systems statewide. Read our analyses, recommendations for reform, and opinions about local public pension systems here.
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. This report presents the Civic Federation’s three-year plan to stabilize Illinois’ finances and addresses the State’s critical financial situation.
The Civic Federation Supports the Metropolitan Water Reclamation District’s tentative budget of $1.21 billion for being reasonable and balanced while maintaining ample reserves and for its fiscal responsibility in properly funding pensions and prefunding retiree health benefits.
The FY2016 budget includes the maximum property tax increase allowed under state law for the third year in a row, with the total levy increasing by 3.3%, or $18.5 million, to $577.8 million. The Civic Federation is concerned that after a maximum levy in FY2014 and FY2015 and proposed maximum levy in FY2016, the District’s financial projections show maximum levies through FY2020 as necessary to balance its budget.
Forest Preserve District of Cook County FY2016 Executive Budget Recommendation: Analysis and Recommendations
The Civic Federation supports the Forest Preserve District of Cook County’s proposed $190.3 million budget. The proposed plan is reasonable and balanced, does not use fund balance reserves for operations and holds the property tax levy relatively flat at a time when many other local governments have sought large revenue increases.
On March 24, 2015 the Illinois Supreme Court filed its opinion affirming the Cook County Circuit Court’s ruling...
The following are the five most read posts presented by the Civic Federation blog in 2015. These posts examine a number...
FY2016 Budget Season Summary
The City of Chicago recently released its Annual Financial Analysis for 2015. According to an executive order issued by...
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