Pension Funding Basics: Assets and Liabilities
The most basic question about a pension fund is whether its assets are sufficient to cover total liabilities incurred. In this blog post, we examine the aggregate pension liabilities and Other Post…
The most basic question about a pension fund is whether its assets are sufficient to cover total liabilities incurred. In this blog post, we examine the aggregate pension liabilities and Other Post…
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…
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 is balanced only by an accounting maneuver that…
This week, Chicago Public Schools released its FY2013 Comprehensive Annual Financial Report for July 1, 2012 to June 30, 2013. In it, the District reports a year-end FY2013 deficit of $119 million that was closed using fund balance. This…
The following posts were among the most highly read on the Civic Federation blog in 2013 and represent some of the most closely followed local government issues this year:…
Last week marked the end of the FY2014 budget season for the eight local governments monitored…
As part of its ongoing analysis of State and local government budgets, the Civic Federation also reviews proposed capital budgets along with any planning documents provided in support of infrastructure investments. Although many…
Four large local government pension funds in the Chicago area reduced their expected investment rates of return for fiscal year 2012. While intended to make the funds’ actuarial assumptions more realistic, these decisions will also have…
Over the next few weeks, many Chicago-area local governments will be releasing their proposed budgets for fiscal year 2014. In preparation for the upcoming budget releases, this blog will recap the Civic Federation’s significant…