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Fund Balance

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City of Chicago Reports Improved Fund Balance

The City of Chicago released its 2017 Comprehensive Annual Financial Report (CAFR) earlier this summer. This blog will examine the City’s Corporate Fund (i.e. General Fund) fund balance as a percent of general operating expenditures based…

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Update on the Chicago Public Schools’ Fiscal Year 2018 Finances

*Note: This blog post was updated on April 13, 2018 with more recent information on the Chicago Public Schools’ short-term borrowing and cash flow position.Chicago Public Schools (CPS) is heading into the next annual budget cycle for the…

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The Watchdogs: Pension funds lost millions on deals

This article reports on a real estate investment made on behalf of five of Chicago’s public pension plans, which resulted in significant losses for those plans. Civic Federation President Laurence Msall comments on the lost investment and…

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12-Year Short-Term Liability Trends for Chicago, Cook County and Chicago Public Schools

Short-term or current liabilities are financial obligations that must be satisfied within one year. They can include short-term debt, accounts payable, accrued payroll and other current liabilities. This blog post presents 12-year trends…

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City Colleges of Chicago Ends FY2014 with Lower Level of Budget Reserves

UPDATE: New information from City Colleges of Chicago has been provided to the Civic Federation that makes adjustments to past years’ Statements of Net Position to comply with the Governmental Accounting Standards Board (GASB)…

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City of Chicago Fares Poorly Relative to Other Cities in Trend Analysis of Financial Indicators, FY2007—FY2011

A report released today by the Civic Federation uses nine indicators of financial condition to measure the relative financial…

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Indicators of Financial Condition: A Comparison of the City of Chicago to 12 Other U.S. Cities from FY2007 to FY2011

This report uses nine indicators of financial condition to measure the relative financial performance of Chicago and 12 other major U.S. cities from FY2007 to FY2011. In addition to Chicago, the other cities analyzed were Baltimore, Boston…

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City Colleges of Chicago FY2014 Tentative Budget: Analysis and Recommendations

The Civic Federation supports the City Colleges tentative FY2014 budget totaling $657.0 million for continuing the District’s exemplary work to improve its financial and operational health. The FY2014 proposed budget holds the property tax…

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Civic Federation Supports City Colleges FY2014 Budget

Proposed budget holds property tax levy flat and prepares for State’s uncertain fiscal outlook (CHICAGO) In an analysis released today, the Civic Federation supports the City Colleges of Chicago’s proposed FY2014 budget of $657.0 million…

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City Colleges of Chicago Ends FY2012 With Healthy Level of Budget Reserves

In this blog, the Civic Federation will explore the City Colleges of Chicago’s fund balance levels as reported in its recently released Comprehensive…