This article about Fitch’s revision of the Chicago Public Schools’ bond rating from positive to stable cites the Civic Federation analysis of the FY2010 CPS proposed budget, specifically the recommendation that the Illinois General…
Data from the most recent audited financial statements of Illinois’ state and local government pension funds shows that the total unfunded liabilities for pensions supported by the taxes of Chicago residents reached $10,037 per capita for…
In this segment on the City Room news program, Civic Federation Vice-President Lise Valentine is interviewed about the Federation’s support of the Chicago Public Schools FY2010 operating budget. Ms. Valentine also points out that CPS must…
The Civic Federation supports the $6.9 billion Chicago Public Schools FY2010 proposed budget. The District employed reasonable measures to balance its budget in light of a $473 million deficit, including cuts to personnel and a proposed…
Today the Civic Federation released its analysis of Chicago Public Schools’ proposed FY2010 budget. On page 61 of the…
This segment on the news program “Eight Forty-Eight” examines Chicago Public Schools’ proposed FY2010 budget and the District’s underfunded pension system. It features an interview with Civic Federation President Laurence Msall, who says…
This in-depth profile of Mike Madigan, Speaker of the Illinois House, cites Civic Federation research into Illinois’ public employee pension system, which indicates the system has $73.4 billion in unfunded pension liabilities.
More details are finally available on the FY2010 operating budget, and it would be difficult to describe it as balanced—even on paper. Depending on how you look at it, there is technically either a $157 million deficit or an $872 million…
The Civic Federation supports the $492.1 million City Colleges of Chicago FY2010 budget because it is a prudent spending plan that both holds the District’s property tax levy flat over the next two years and compensates for…
Over the years, Illinois’ poorly funded retirement systems have put an enormous strain on the State’s budget. At times, the State has chosen to simply avoid the burden by making smaller contributions to the pension funds than…
