City Releases Annual Financial Analysis for 2014: Budget Projections Do Not Include Increase in Police and Fire Pension Fund Payments
This week the City of Chicago released its Annual Financial Analysis for 2014. According to an…
This week the City of Chicago released its Annual Financial Analysis for 2014. According to an…
A new report by Cook County Clerk David Orr released on July 16 finds that 68.2% or 103 of Chicago’s 151 tax increment financing (…
Under Illinois law, the State is required to share a certain portion of state income tax receipts with municipal and county governments…
The City of Chicago currently has the lowest rated credit of any major city in the country according to Moody’s Investors Service. At Baa1, the long-term bond rating is still several levels above…
State statute governs all benefits and funding of public pensions for the City of Chicago. The City cannot contribute more to its pensions than the multiple of employee contributions allowed under state statute. There has unfortunately…
Chicago and Cook County residents who followed the pension debate at the State of Illinois might be surprised by the fact that proposals for pension reform for the…
The Civic Federation joined with the Federal Reserve Bank of Chicago on April 23, 2014 to co-host a conference on ways that municipalities in Illinois can avoid or resolve fiscal…
On April 8, 2014, the Illinois House of Representatives and Senate approved Senate Bill 1922,…
Chicago Mayor Rahm Emanuel unveiled a proposal to stabilize the City’s underfunded Municipal and Laborers pension funds on March 31. The 40-year plan includes successive property tax increases to provide additional pension funding coupled…