Data from the most recent audited financial statements of Illinois’ state and local government pension funds shows that the total unfunded liabilities for public employee pensions supported by the taxes of Chicago residents reached $14,…
Chicago residents will experience changes in a number of consumer taxes going into effect throughout 2012 as a result of policy changes at the City and County levels. The new consumer tax rates are presented in the exhibit below. Following…
In 2011 the Civic Federation blog provided weekly context, information and perspective on government budgets and fiscal issues across Illinois. Posts in 2011 focused on FY2012 local government budget analysis and the severe…
In 2011 the IIFS blog provided weekly context, information and perspective on key fiscal issues in the State of Illinois. Posts in 2011 focused on analysis of FY2012 Illinois budget negotiations, analysis of the ongoing Illinois pension…
Last week marked the end of the budget season for the nine local governments monitored by the Civic Federation. These governments include: the City Colleges of Chicago, Chicago Public Schools, DuPage County, City of Chicago, Cook…
This week marks the end of the Civic Federation's fiscal year 2012 local government budget analysis season. The nine local governments monitored by the Civic Federation include: City Colleges of Chicago, Chicago Public Schools, DuPage…
In its Recommendations for a Financially Sustainable City of Chicago, the Civic Federation recommended that the City’s election function be transferred to Cook County.…
The Civic Federation's legislative priorities for 2012 include public pension reform, requiring the State of Illinois to develop and implement a capital improvement plan, dissolving the Illinois International Port District, creating a new…
The Civic Federation supports the proposed FY2012 City of Chicago budget of nearly $6.3 billion because it takes effective action to reduce the City’s structural deficit through significant expenditure reductions and targeted revenue…
