The following posts were among the most highly read on the Institute for Illinois’ Fiscal Sustainability’s blog in 2014 and represent the most closely followed Illinois fiscal issues of the year: State pension reform and the State budget. States Face Legal Challenges Over Reduced Pension COLAs January 3, 2014 This blog reviews legal challenges to reductions in state pension COLAs in…
On a preliminary trip to Springfield after winning the November election, Governor-elect Bruce Rauner held a press conference to draw attention to some of the gimmicks included in the current State budget, including interfund borrowing. Mr. Rauner called the plan to use $650 million borrowed from Special State Funds for FY2015 General Funds operations “fundamentally wrong.” The Governor-elect…
The Civic Federation supports the Metropolitan Water Reclamation District’s tentative budget of $1.3 billion and praises the organization’s continued use of long-term financial planning to guide its operations and future projects. However, the Federation is concerned that the District’s FY2015 budget and five-year financial projections through FY2019 reflect annual maximum increases to its…
Full analysis praises District’s long-term planning, updated pension funding goal In an analysis released today, the Civic Federation supports the Metropolitan Water Reclamation District’s (MWRD) FY2015 Tentative Budget of $1.3 billion and praises the organization’s continued use of long-term financial planning to guide its operations and future projects. However, the Federation is concerned…
The Illinois House adjourned on Wednesday, December 3, 2014 with no further session days scheduled before the 99th General Assembly begins in January 2015. The Illinois Senate is expected to adjourn on December 4, 2014 and has one addition session day scheduled for January 13, 2015. This will mark the end of the 98th General Assembly. At the end of each two-year legislative session, all of the…
In an analysis released today, the Civic Federation supports the Chicago Park District’s proposed FY2015 operating budget of $448.6 million. The proposal accommodates increased employer pension contributions mandated by the District’s 2014 pension reform legislation while holding the property tax levy relatively flat and expanding programming. The full 55-page analysis is available here. “We…
The Civic Federation supports the Chicago Park District’s proposed FY2015 operating budget of $448.6 million that accommodates increased employer pension contributions mandated by the District’s 2014 pension reform legislation while holding the property tax levy relatively flat and expanding programming. The Civic Federation strongly supported the District’s work with its labor partners, the…
The Chicago Transit Authority (CTA) recently released its FY2015 proposed budget. While the Civic Federation traditionally analyzes features common to all local government budgets, our analyses of the Chicago Transit Authority’s (CTA) budgets include additional productivity measurement data. The Civic Federation uses expenditure, ridership and miles traveled data provided by the CTA to gain…
Shortly after a Sangamon County Circuit Court Judge ruled that the pension reform law passed in Illinois almost a year ago violated the State constitution, Attorney General Lisa Madigan announced she will be seeking an immediate appeal of the decision to the State Supreme Court. Judge John W. Belz issued the Circuit Court’s decision on Friday, November 21, 2014, one day after hearing oral…
This article follows the passage of Chicago’s FY2015 budget by a 46-4 City Council vote. The Civic Federation supported the budget in its November 3 analysis and said the proposal is a reasonable response to the City’s immediate financial situation. The Federation also warned that long-term financial stability cannot be achieved without further pension reform action from the Illinois General…
