It’s no secret that the financially troubled State of Illinois owes billions of dollars in unpaid bills. What is not as widely known is that the State also owes $730 million in corporate income tax refunds, according to the Illinois Department of Revenue. Unlike unpaid bills, unpaid tax refunds are not accounted for in the budget. The budget specifically shows unpaid bills as accounts payable at…
On August 5, the Civic Federation released its analysis of the FY2011 City Colleges Tentative Annual Operating budget. The Federation supports the District’s $581.9 million plan because it reduces its property tax levy while pursuing a reorganization plan that will centralize more administrative functions and increase programmatic specialization at its seven college campuses. The District…
This article is about the personnel cuts, pay freezes, and furlough days in the Chicago Public Schools’ proposed $6.4 billion budget as well as the District’s plan to use the entirety of its $190 million reserve fund to help balance the budget. The Civic Federation says it does not back the District’s plans to use all of its reserves.
This article discusses the Chicago Public Schools’ plan to close a $370 million budget gap through a combination of personnel cuts, pay freezes, and the use of all of its reserve funds. The Civic Federation says the District’s plan to deplete its reserve fund may violate District policy and could damage its bond rating.
This article is about Chicago Public Schools’ possible receipt of funding from the recent federal jobs bill, which could be used to restore class sizes and school programs. The Civic Federation says CPS should be cautious about making expenditures until it has actually received the promised federal funds.
Illinois Governor Pat Quinn recently announced his plans for $500 million in mass transit infrastructure improvements across the State. $442.7 million of that will go to the Regional Transit Authority for repairs to the Chicago Transit Authority’s rail infrastructure, the rehabilitation of Metra train stations, and new vehicles and a system-wide radio system for Pace. Click here for a list of all…
This article explores the challenges Mayor Daley faces in filling the City of Chicago’s $655 million budget gap. One of the options being considered involves using proceeds from the City’s recent privatization deals. The Civic Federation says using those funds to fill a budget hole is unwise and that the City should restructure and reprioritize its services instead.
This news segment details how the City of Chicago had only $2.7 million in reserves at the end of FY2009. The Civic Federation says the City should have cash reserves of at least $200 million given the size of its operating budget.
In this news segment, Civic Federation President Laurence Msall explains that restructuring the City of Chicago’s government is the only fix for the City’s unbalanced budget. Msall adds the City could institute a grid-based system for some City services instead of the current ward-based system in order to reduce costs.
Roughly a month ago, on July 1, 2010, Governor Pat Quinn announced that he planned to cut $1.1 billion from the $26.0 billion FY2011 State of Illinois budget previously approved by the General Assembly. At that time, the Governor did not say where $891 million of those spending cuts would be made. During the week of August 2, 2010, Governor Quinn revealed the specific reductions to agency budgets…
