Fund Balance Policies of Chicago Area Governments
As explained previously in this blog a key indicator the Civic Federation uses to assess the financial health of local governments is the level of unreserved…
As explained previously in this blog a key indicator the Civic Federation uses to assess the financial health of local governments is the level of unreserved…
Among the many challenges facing City of Chicago Mayor-elect Rahm Emanuel when he takes office May 16 is the precarious state of the City’s finances. The City has a large and increasing direct debt load that could be a major indicator of…
Mayor-Elect Rahm Emanuel and the newly elected Chicago City Council face a host of major financial challenges. One of the…
The three largest municipal governments analyzed by the Civic Federation are the Chicago Public Schools (CPS), the City of Chicago and Cook County. All three began their FY2011 budget processes projecting large budget shortfalls:…
The Civic Federation analyzes the budgets of nine Chicago area local governments. One important indicator that the Federation utilizes to assess the financial health of these municipalities is their fund balance level. In particular, we…
The long-term lease of assets by the City of Chicago is one of the most significant financial undertakings by the City in recent years. These groundbreaking transactions have received national attention and been examined by other…
This report identifies the most significant financial challenges facing the City of Chicago and provides recommendations to the new Mayor of Chicago for ways to improve and stabilize the City’s finances in the short- and long-term. Those…
This report analyzes basic financial data on ten major local government employee pension funds in Cook County. It is intended to provide lawmakers, pension trustees, pension fund members and taxpayers with the information they need to make…
The Civic Federation often recommends that local governments undertake long-term financial forecasting and planning, which the Federation believes is one of the single most important financial practices for local governments to undertake.…
In 2010 the Civic Federation blog provided comprehensive information about government and fiscal issues across Illinois for the public, government officials and media. In a range of posts on topics from the…