July 14, 2016 - 4:22pm


July 14, 2016

Despite a stopgap spending measure enacted on June 30, 2016, State of Illinois appropriations for higher education remain below expenditures in fiscal year 2015—the last year the State had a complete annual budget.

For FY2016 and FY2017, appropriations from general operating funds and related accounts total $1.6 billion, or 82.4% of the $1.9 billion spent in FY2015. In other words, higher education has been authorized to receive less than a full year’s worth of funding, compared with FY2015 spending.


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The Civic Federation was pleased to honor John Canning with the Lyman J. Gage Award for Outstanding Civic Contribution by a Chicagoan and BMO Harris Bank with the Addams-Palmer Award for Exemplary Civic Involvement by a Chicago Institution on Wednesday, June 29 at the Palmer House Hilton. Event co-chairs Lester Crown, Andrew J. McKenna, Michael J. Sacks and Maurice Smith joined Illinois’ business, civic and government leaders to celebrate the civic achievements of both honorees. Monsignor Kenneth Velo gave the afternoon's salutation address, followed by brief remarks by Mayor Rahm Emanuel.

July 11, 2016

Bloomberg

Bloomberg
July 11, 2016

This article discusses the State of Illinois’ FY2017 stopgap plan and the financial impact of the State not enacting a comprehensive balanced budget. Laurence Msall, President of the Civic Federation, describes the stopgap plan as a political gimmick and notes that it does not end Illinois’ fiscal crisis.

July 8, 2016 - 4:42pm


July 8, 2016

On June 30, 2016, Cook County Board President Toni Preckwinkle issued a preliminary budget for fiscal year 2017, which begins December 1, 2016 and ends November 30, 2017. The report also provided end of year estimates for fiscal year 2016.

A public hearing on the preliminary FY2017 budget is scheduled for July 19, 2016 at 6:00 p.m. in the Cook County Board Room. Board President Preckwinkle plans to present her final budget proposal for FY2017 in October 2016.

 

Preliminary FY2017 Budget Forecast


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July 7, 2016

July 7, 2016

Proposal keeps property tax levy, tuition rates relatively flat despite inadequate funding from State of Illinois

In an analysis released today, the Civic Federation announced its support of the City Colleges of Chicago’s proposed FY2017 operating budget. The $523.7-million budget is a reasonable plan given the unprecedented uncertainty surrounding funding from the State of Illinois as it enters a second year without enacting a comprehensive balanced state budget. The full 48-page report is available at here.

June 30, 2016

Chicago Tribune

Chicago Tribune
June 30, 2016

This article discusses the tough financial decisions Cook County will have to make in order to address its expected budget deficit. Civic Federation President Laurence Msall explains that Cook County has been grappling with financial issues after recent tax increases and suggests the County look for ways to decrease the cost of wages and benefits that account for most of the day-to-day spending. 

July 7, 2016

The Civic Federation supports the City Colleges of Chicago’s proposed FY2017 operating budget. The $523.7-million budget is a reasonable plan given the unprecedented uncertainty surrounding funding from the State of Illinois as it enters a second year without enacting a comprehensive balanced state budget.

July 7, 2016

July 1, 2016 - 3:08pm


July 1, 2016

After a yearlong stalemate, the State of Illinois finally saw a crack in its ongoing budget impasse on the last day of the fiscal year. The General Assembly rushed approval of bills authorizing a full year of preschool through high school education funding, including additional assistance for the Chicago Public Schools, along with a partial spending plan for other government services to cover some FY2016 and FY2017 costs. 


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June 27, 2016

Chicago Sun-Times

Chicago Sun-Times
June 27, 2016

This article discusses Chicago Public School’s ongoing financial and pension issues. Laurence Msall, President of the Civic Federation, attributes the school district’s financial difficulties in part to the absence of a balanced State budget and the inequitable funding of Chicago Public School’s pensions.

June 27, 2016

Chicago Tribune

Chicago Tribune
June 27, 2016

This article discusses a proposal to change the City of Chicago’s investment restrictions. Civic Federation President Laurence Msall notes that the purpose of the treasurer’s office is to protect the cash reserves of the City, not to speculate or generate high returns.

 

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