Long-Term Financial Plan Recommended for State of Illinois
In its recently released FY2015 budget roadmap report, the Institute for Illinois’ Fiscal Sustainability at the Civic Federation recommended that the…
In its recently released FY2015 budget roadmap report, the Institute for Illinois’ Fiscal Sustainability at the Civic Federation recommended that the…
This article looks at findings of the Civic Federation’s State of Illinois FY2015 Budget Roadmap released by the Institute for Illinois’ Fiscal Sustainability on March 3. The…
In a report released today, the Civic Federation’s Institute for Illinois’ Fiscal Sustainability proposes a comprehensive plan for achieving long-term fiscal sustainability for the State of Illinois. The five-year plan would fully pay down…
Prior to the release of the Governor’s annual budget recommendation, the Institute for Illinois’ Fiscal Sustainability at the Civic Federation releases an analysis of the State of Illinois’ fiscal condition. The report reviews Governor…
The Illinois House of Representatives has approved a revenue projection for the coming fiscal year that includes a $2.2 billion loss in operating resources for FY2015, after a holding series of committee meetings to deliberate varying…
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…
This article discusses a Standard & Poor’s Rating Services report released February 27 that disputed comparisons between Chicago and Detroit, concluding Chicago has the ability to make the changes necessary to avoid bankruptcy. The…
It is widely known that the State of Illinois faces a dramatic reduction in general operating revenue starting on January 1, 2015, when…
This article examines Chicago’s growing debt load due to unfunded pension liabilities and ongoing borrowing. The Civic Federation said Chicago’s level of debt is unsustainable and the City is short on time to find a solution. The article…
At a recent committee hearing, Illinois lawmakers were provided with a mixed message regarding the economy and State budget for the coming fiscal year. Officials from the Illinois Department of Revenue explained that although the State…