The Civic Federation supported the MWRD's FY2007 Budget because it minimizes the burden on taxpayers and implements sound financial planning techniques. Notably, the MWRD has adopted a policy establishing an irrevocable trust for funding its Other Post Employment Benefit liabilities (e.g., retiree health care), and is appropriating 10 million dollars for this purpose in FY2007. The District is…
The Civic Federation supported the Chicago Park District's FY2007 Budget because the District did not raise its property tax levy this year, and has held down operating costs through a combination of careful management practices, privatization of services, and public-private partnerships. However, the Federation was concerned by a decline in health of the District's pension fund, exacerbated by…
CIVIC FEDERATION APPLAUDS FISCAL RESTRAINT IN PARKS BUDGET Urges Pension and Employee Benefit Reform to Control Costs CHICAGO – Praising a combination of careful management practices, prudent privatization initiatives, and creative public-private partnerships, the Civic Federation announced its support for the proposed $393.9 million FY2007 Chicago Park District budget. The Federation’s complete…
This issue brief describes various forms of privatization available to the public sector, including asset sales, contracting out of management, corporatization, internal markets, intergovernmental contracts, managed competition, and vouchers. It discusses the pros and cons of these alternative service delivery options with examples of privatization efforts in Chicago-area governments. It also…
The Civic Federation supports DuPage County's FY2007 budget because the County has reduced spending by over twenty-five percent since 2003, and has focused on cost reduction before seeking revenue increases. The Civic Federation cautions against any future policy of relying on property tax increases as the first line of attack for balancing the budget, and urges the County to explore…
Reform and Rationalization Necessary to Avoid Continual Tax Increases The Civic Federation announced its support for the $469.5 million proposed FY2007 DuPage County preliminary budget on Monday, citing a combination of prudent fiscal management and spending cuts. The Federation recognized the County for working to curb spending by proposing a 2.8% reduction in spending over the previous year…
The Civic Federation opposes the CTA's FY2007 budget because it relies on 110 million dollars in additional state support which has not been guaranteed, and provides no detailed contingency plan. The Federation recommends that the CTA seek relief in Springfield from some collective bargaining constraints that have failed to address the CTA's enormous employee pension and benefit costs.
(CHICAGO) – “A spending plan based on the hope of $110 million in new money from the state is neither balanced nor financially responsible,” said Laurence Msall, president of the Civic Federation. The Federation announced its opposition to the Chicago Transit Authority’s proposed $1.13 billion budget as “financially imprudent” today. The group also expressed concern regarding the RTA’s…
The Civic Federation supports the Forest Preserve District's proposed 164.5 million budget because the District has made important steps toward professionalization of its operations, including the issuance of a Capital Improvement Plan. The Federation makes a number of recommendations on ways to improve the financial management of the District.
The Civic Federation supports the City of Chicago's proposed $5.7 billion budget but has serious concerns about the poor health of the City's pension funds and the low level of reserve funds for contingencies.
