Facing a multi-billion dollar mountain of unpaid bills and declining revenues, Governor Pat Quinn has proposed a new short-term borrowing plan for the State of Illinois that has encountered opposition from the Comptroller’s Office. As…
This article about a report on the States in the worst fiscal condition by the Pew Center on the States quotes the Civic Federation in its profile of Illinois’…
The Civic Federation opposes the FY2010 City of Chicago budget of $6.14 billion because it is unsustainable and relies too heavily on one-time reserve funds to close a $520.0 million budget deficit. The proposed drastic draw down of long-…
The State of Illinois’ inadequate funding of its employee retirement systems has already contributed to downgrades in the State’s credit ratings and will continue to affect rating decisions for many years, according to a new report by…
The Civic Federation supports the Chicago Transit Authority’s (CTA) proposed FY2010 budget of $1.29 billion. Facing significant public funding short falls, CTA plans to close its $300.9 million deficit with fare increases ranging from 25…
The Civic Federation supports the $521.2 million FY2010 DuPage County budget proposal because it maintains funding for core programs while providing property tax relief. The County has additionally improved its budget planning process and…
Civic Federation President Laurence Msall was a panelist for this discussion on public pensions in Illinois.
This article, part of an investigatory series about Illinois’ public employee pension crisis, quotes the Civic Federation. The Federation says that part of the problem can be attributed to the changing nature of retirement benefits, which…
This article about Fitch’s revision of the Chicago Public Schools’ bond rating from positive to stable cites the Civic Federation analysis of the FY2010 CPS proposed budget, specifically the recommendation that the Illinois General…
Data from the most recent audited financial statements of Illinois’ state and local government pension funds shows that the total unfunded liabilities for pensions supported by the taxes of Chicago residents reached $10,037 per capita for…
