This report provides a trend analysis of indicators that measure the financial health and performance of ten major local government pension funds from 1997 to 2006. It finds a combined 18.3 billion dollars in unfunded liabilities for the ten funds, and makes numerous recommendations on legislative actions that should be taken to slow the downward spiral of pension underfunding.
The Civic Federation gives qualified support to the Chicago Public Schools Recommended 5.8 billion dollar FY2008 operating budget. The District has made efforts to contain costs and improve budget transparency. However, the Civic Federation's support is based on the District's pledge to develop publicly-available long-term planning processes and documents next year. The Civic Federation also…
This report compares Illinois school districts' financial management and accountability standards with nationwide best practices, and makes policy recommendations regarding steps Illinois should take to ensure greater financial accountability from school districts.
This report provides a trend analysis of indicators that measure the financial health and performance of ten major local government pension funds from 1997 to 2005. It finds a combined 16.5 billion dollars in unfunded liabilities for the ten funds, and makes numerous recommendations on legislative actions that should be taken to slow the downward spiral of pension underfunding.
The Civic Federation opposes the Chicago Public Schools Recommended $5.3 billion FY2007 operating budget because it lacks long-term planning and transparency.
This report provides a trend analysis of indicators that measure the financial health and performance of ten major local government pension funds from 1997 to 2004. It finds a combined $14.4 billion in unfunded liabilities for the ten funds, and makes recommendations on actions that should be taken to slow the downward spiral of pension underfunding.
This issue brief provides a "plain English" description of how GASB 43 and 45 will require government financial reporting on non-pension post-employment benefits (OPEB). It is illustrated with preliminary estimates of unfunded OPEB liabilities for several jurisdictions in the U.S., as well as initial reactions of rating agencies.
The Civic Federation supports the FY2006 Chicago Public Schools budget as a short-term plan to address the current year’s fiscal and programmatic challenges. It expresses concern about the budget’s lack of basic transparency, and warns of long-term financial problems arising from steadily increasing operating costs in the face of declining enrollment.
This report provides a trend analysis of indicators that measure the financial health and performance of 9 major local government pension funds from 1998 to 2003. It finds a combined $9.7 billion in unfunded liabilities for the nine funds.
The Civic Federation was pleased with some elements of the $5.05 billion CPS budget, but also identified several areas of concern and opposed the $50 million maximum allowable increase in the property tax levy.
