08.20.14
Public Act 98-0641, the City of Chicago’s pension reform bill , originally called for an increase in property taxes to help fund the Municipal Employees’ Annuity and Benefit Fund (MEABF) and the Laborers’ and Retirement...
08.20.14
Public Act 98-0641, the City of Chicago’s pension reform bill , originally called for an increase in property taxes to help fund the Municipal Employees’ Annuity and Benefit Fund (MEABF) and the Laborers’ and Retirement...
08.08.14
Despite Illinois’ tight budget for the current fiscal year, the State enacted major Medicaid legislation featuring increased payments to nursing homes and hospitals.
...
08.01.14
This week the City of Chicago released its Annual Financial Analysis for 2014 . According to an executive order...
07.31.14
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, exceeded expectations in FY2014, the last full year of the...
07.25.14
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. However, this is a one-time maneuver that cannot be...
07.25.14
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...
07.23.14
The Civic Federation does not support Chicago Public Schools proposed $6.8 billion budget for FY2015. The short-sighted budget does nothing to address the District’s grave fiscal crisis and...
07.17.14
The Illinois Supreme Court’s recent ruling on health insurance for State retirees is expected to increase State costs by approximately $128 million through FY2015, according to the Department of Central Management Services.
Although litigation is ongoing, the high court’s...
07.10.14
Second installment property tax bills for Cook County residents were mailed out this month, the third year in a row that they have been sent out on time. Between tax year 1977 and tax year 2011, second installment bills were sent out late every year...
07.10.14
The Civic Federation supports the City Colleges tentative FY2015 budget totaling $723.5 million for reflecting the District’s continued commitment to sound financial practices and prudent...