The State of Illinois has yet to determine how it will handle its required pension contributions for FY2011. However, a recent analysis by the Commission on Government Forecasting and Accountability (COGFA) estimates that skipping the $3.5 billion payment entirely would cost the State $12.5 billion in additional contributions. COGFA’s actuaries forecasted how much the State would be required to…
On June 15, 2010 the Chicago Board of Education approved measures to cope with the school district’s estimated $600 million deficit for the coming school year. The measures include authorizing the establishment of an $800 million line of credit to cover delayed state payments and authorizing CEO Ron Huberman to increase class sizes to 35 students if necessary. Could Tax Increment…
Civic Federation Position Statement on School Vouchers June 17, 2010 The Civic Federation supports the use of vouchers to provide students in low-performing public schools with the opportunity to attend private schools. We view charter schools and a voucher system as important initiatives for public education because they provide school choice for parents and students and bring innovation to the…
The State of Illinois is not the only cash-strapped state that shied away from major tax increases to improve its financial condition in FY2011. According to Stateline.org, most states avoided raising significant revenue and instead patched together FY2011 budgets by finding a few new items to tax, curtailing spending and relying on federal stimulus dollars. So far only Kansas and Arizona have…
This article discusses how the Chicago Public School system plans to balance its FY2011 budget with a combination of class size increases and borrowing. The Civic Federation questioned why CPS would opt to increase class size without trying to negotiate with the teachers union over $125 million in scheduled FY2011 pay increases.
This editorial opposes the policy decisions that have led to the dire state of Illinois’ pension system. The Civic Federation says the threat that Illinois’ pensions will run out of money is very real and that Illinois’ police and firefighter pensions are among the worst-funded and most vulnerable in the State.
The Civic Federation is quoted in this article that details the challenges facing Illinois government agencies in their efforts to reduce expenditures to help the State balance its budget.
Last week the Illinois General Assembly adjourned for the summer. The House and the Senate sent numerous bills to Illinois Governor Pat Quinn to either sign or veto. One such bill is Senate Bill 580, which would restructure the existing DuPage Water Commission. The DuPage Water Commission operates and finances the systems required to bring Lake Michigan water service to communities located in…
This article is about Mayor Daley’s plans to hold the City of Chicago’s property tax levy flat for next year’s budget. The Civic Federation says the City should explore options other than increasing taxes to balance its budget in the current recession.
In this news segment about the Illinois legislature’s passage of an unbalanced budget that would leave the State further behind on its paying its bills, Civic Federation President Laurence Msall calls on Governor Quinn to veto the budget in favor of crafting one that is balanced.
