The Civic Federation does not support the City Colleges' proposed FY2009 budget because it is unsustainable and relies almost exclusively on revenue enhancements, such as a maximum property tax increase, rather than focusing on ways to reduce costs. The Federation commends the District for beginning to implement important planning procedures, but urges it to use these tools to control spending…
CIVIC FEDERATION WARNS FY2009 CITY COLLEGES BUDGET NOT SUSTAINABLE Tax-to-the Max Budget Wrong for Current Economic Climate The Civic Federation announced today that it has strong reservations about the long-term sustainability of the $388.6 million proposed FY2009 City Colleges of Chicago (CCC) operating budget. The budget over-relies on future tax increases to close a projected $7.9 million…
This report calls for the dissolution of the Illinois International Port District and the transfer of its operations to the City of Chicago. It finds that the District has shifted its primary focus from port operations to the management of a golf course. Even though the golf course brings in over half the District's annual revenue, the Civic Federation found no evidence that those revenues have…
The Civic Federation opposes the unaffordable program expansions and long-term borrowing proposed in the FY2009 State budget recommendation, but supports the proposed 3% cut from non-priority agencies and other efforts to streamline and modernize state government. The Federation again strongly urges the General Assembly to implement pension benefit reforms.
This issue brief provides an overview of some state and local fiscal issues that could be considered at a new Illinois Constitutional Convention. The proposals described do not necessarily reflect positions of the Civic Federation, but are intended for discussion purposes as stakeholders consider the implications of holding a new Constitutional Convention.
This brief provides a compilation of selected consumer taxes, including rates and descriptions, in place in the City of Chicago as of October 4, 2007. It includes such taxes as the sales tax, gas tax, amusement tax, lease tax, liquor tax, restaurant tax, soft drink tax, wheel tax, and parking tax.
The Civic Federation's legislative priorities for 2008 include public pension reform, tax increment financing disclosure, creation of a separate board of commissioners for the Cook County Forest Preserve District, school financial management accountability reforms, property tax assessment appeal reforms, timely county audits, and retiree health care trust fund authorization.
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.
Citing a combination of exemplary long-range planning and restraint in its property tax levy, the Civic Federation announced its support for the Metropolitan Water Reclamation District’s tentative FY2008 budget of $1.4 billion. The Federation’s complete budget analysis, including detailed findings and recommendations, is available on our website, www.civicfed.org. The MWRD proposes a fiscally…
The Civic Federation supports the MWRD's FY2008 Budget because it minimizes the burden on taxpayers and demonstrates sound financial planning techniques. The Civic Federation is concerned about the declining funded ratio of the MWRD pension fund and recommends a number of measures to improve the fiscal health of the plan.
