11.05.14
For the third year in a row, the budget proposed by Mayor Rahm Emanuel for the City of Chicago relies on the use of refunding bonds to pay for principal owed in the coming year rather than making payments from operating resources.
Although the details of the refunding bonds are not...
11.03.14
The Civic Federation supports the City of Chicago's proposed $7.3 billion budget because it reflects both reasonable structural changes and significant actions toward long-term stability,...
10.31.14
When the Illinois Jobs Now! capital spending program was approved in 2010 the State also approved a series of dedicated revenue sources intended to fund new borrowing costs outside the State operating budget. As previously sold capital bonds were retired, it was anticipated that the cost for new...
10.23.14
As previously discussed here , the enacted FY2015 budget for the State of Illinois includes several budgetary gimmicks intended to make up for the loss of revenues associated with the expiration of the temporary income tax...
10.16.14
Whether the State of Illinois has spent more or less on education in the last five years has recently been the subject of intense debate . This blog post examines various factors that affect the...
10.09.14
This analysis finds that the State of Illinois' FY2015 enacted budget represents a return to unsustainable fiscal practices including borrowing for operations and underfunding known costs....
10.02.14
In the past few months, it has become evident that Illinois vastly underestimated the number of newly eligible recipients who would sign up for Medicaid under the Affordable Care Act. However, the fiscal implications of the unexpectedly strong enrollment remain unclear.
Governor Pat...
09.26.14
As recently as 2011, the State of Illinois projected its backlog of unpaid income tax refunds could increase to more than $1.0 billion but by the end of FY2014 nearly all refunds were paid. In FY2015, for the...
09.18.14
A new law that restores certain Medicaid benefits previously cut due to budget pressures also adds a new service: kidney transplants for undocumented Illinois residents.
Public Act 98-0651 , signed by Governor...
08.27.14
Businesses do not always pay their bills immediately, and neither do governments. Delays of a month or two are standard practice, although prompt payment is preferable to take advantage of discounts,...
