*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…
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…
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…
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)…
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…
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…
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…
In this blog, the Civic Federation will explore the City Colleges of Chicago’s fund balance levels as reported in its recently released Comprehensive…
On January 23, 2013, the Chicago Public Schools (CPS) released its Comprehensive Annual Financial Report (CAFR) for the 2012 fiscal year. The fiscal…
