January 20, 2016

Debtwire

Debtwire
January 20, 2016

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January 21, 2016

WTTW 11

WTTW 11
January 21, 2016

This article reports on a proposal from local lawmakers that would use surplus TIF funds to close a portion of CPS’ budget deficit. Laurence Msall, President of the Civic Federation, commented on the need for a comprehensive plan to responsibly address CPS’ entire budget gap.

January 21, 2016

Chicago Tribune

Chicago Tribune
January 21, 2016

This article discusses the current $480 million CPS budget shortfall, impacts of the budget gap and proposed short-term solutions. President of the Civic Federation, Laurence Msall, remarked on the necessity of a long-term plan to help stabilize CPS’ finances.

 

January 14, 2016 - 4:36pm


January 14, 2016

A new report by Governor Bruce Rauner’s administration projects that the State of Illinois’ backlog of unpaid bills could grow to $25.0 billion in FY2019 from $4.4 billion in FY2015 based on current tax and spending policies.

The three-year forecast, issued on January 6, 2016, covers FY2017 through FY2019. It also includes actual budget results for FY2015, which ended on June 30, 2015, and estimated results for FY2016, which began on July 1, 2015.


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January 12, 2016

Reboot Illinois

Reboot Illinois
January 12, 2016

This article reports on the signs indicating that the State of Illinois may not have a budget until later this calendar year. Civic Federation President, Laurence Msall, discusses the looming pressures to put an end to the budget impasse.

January 12, 2016

Fox 32

Fox 32
January 12, 2016

This article discusses that the city of Harvey, a south suburb of Chicago, is in serious financial trouble with millions of dollars unaccounted for. President of the Civic Federation, Laurence Msall, notes that the lack of records and documentation to showing how the cities’ money was spent is troubling.

January 8, 2016

WTTW 11

WTTW 11
January 8, 2016

This article discusses an upcoming Chicago City Council vote on $3 billion worth of bond issuances for 2016. Some Aldermen have called for more time in order for the new City Council independent budget expert to review all of the plans. President of the Civic Federation, Laurence Msall, remarked on the importance of a full understanding by the City Council on the cost of this borrowing.

January 8, 2016

Chicago Sun-Times

Chicago Sun-Times
January 8, 2016

This article covers Mayor Rahm Emanuel seeking approval from City Council for $3 billion in borrowing, the biggest in his tenure. President of the Civic Federation, Laurence Msall, asks whether the record borrowing is in the best interest of city taxpayers.

January 8, 2016

Associated Press

Associated Press
January 8, 2016

This article examines a ruling by the Illinois 4th District Appellate Court, finding that the 2012 law defining nonprofit hospitals’ property tax exemptions is unconstitutional. The particular ruling involves a case against the Carle Foundation Hospital in Urbana, Illinois. Civic Federation President, Laurence Msall, discusses the potential implications of this ruling for hospitals statewide.

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