10.12.18
The Illinois Estate tax is levied on net assets over $4 million of the estates of the deceased. Illinois does not have an inheritance tax, which is levied on assets received by the inheritors of an estate.
Estate tax revenue is forecast to be...
10.05.18
UPDATE: The State Universities Retirement System (SURS) does not expect to be ready to fully implement pension buyout plans for its members during FY2019, according to documents provided to the Civic Federation. SURS attributed the delay to complex benefit provisions, limited staffing and poor...
10.03.18
Consumers of liquid nicotine in the City of Chicago will now pay more for liquid nicotine following the passage of Ordinance...
09.21.18
The latest in a series about local governments, this blog post examines the number of park districts in Illinois, including an analysis of the number of park districts by county.
The park districts examined in this blog are stand-alone special purpose governments that provide public...
09.13.18
Illinois’ backlog of unpaid bills stood at nearly $7.4 billion as of September 13,...
09.07.18
As part of an ongoing series about local governments in Illinois, this blog post will examine the revenues and expenditures of counties located in Illinois and a comparison of...
08.31.18
With governments in Illinois facing steep increases in yearly pension contributions, new plans are being floated to borrow billions of dollars to stabilize ailing pension funds and relieve budgetary pressures.
The...
08.24.18
Annually the Civic Federation completes an analysis of the proposed budget of the City Colleges of Chicago. The Federation’s latest analysis of the City Colleges budget can be found here . This blog post expands on the...
08.17.18
Illinois will issue bonds next week to refund all of its outstanding...
08.10.18
The City of Chicago released its 2017 Comprehensive Annual Financial Report (CAFR) earlier this summer. This blog will examine the City’s Corporate Fund (i.e. General Fund) fund balance as a percent of general operating expenditures based on audited data from the City’s most recent CAFR. This...
