The State of Illinois still owes income tax refunds to many businesses, but the backlog declined in the fiscal year ended June 30, 2011 and is expected to dip further this year. According to the Illinois Department of Revenue, 4,569 businesses were owed $626.9 million in income tax refunds at the end of FY2011, down from $690.9 million at the end of FY2010. Nearly 34,000 individuals were owed $18…
Illinois’ Personal Property Replacement Tax (PPRT) is a revenue source for local governments that was created by the General Assembly in 1979 to replace a tax on the personal property of businesses that was abolished pursuant to the 1970 Illinois Constitution Article IX Section 5. Although its name refers to the tax it replaces, the PPRT is an income tax on the federal taxable income of…
On Monday the Civic Federation released its analysis of Chicago Public Schools $5.9 billion FY2012 budget proposal. The Federation supports the proposal as it provides a reasonable short-term plan to fund the District’s core educational mission during its difficult, deepening financial crisis. However, the Civic Federation has major concerns about the long term fiscal health of the District due…
This article discusses the Civic Federation’s support for Chicago Public Schools $5.9 billion FY2012 budget proposal. It mentions the Federation’s warnings about the District’s long-term fiscal prospects.
This article is about the Civic Federation’s analysis of Chicago Public Schools $5.9 billion FY2012 budget proposal. It examines the Federation’s recommendations for reforms to the CPS teacher pension system.
This article about the Civic Federation’s analysis of Chicago Public Schools $5.9 billion FY2012 proposed budget focuses on the Federation’s warnings about the District’s precarious long-term fiscal prospects.
The Civic Federation’s analysis of Chicago Public Schools FY2012 proposed budget is the subject of this segment. The Civic Federation says that despite the proposal being good for the District in the short-term, the District is in a fiscally dire situation and will need a long-term plan.
This article discusses the Civic Federation’s analysis of Chicago Public Schools FY2012 budget proposal. It notes the Federation’s general support for the proposal, but highlights the Federation’s numerous concerns about the District’s long-term fiscal health.
The Civic Federation supports the Chicago Public Schools proposed $5.9 billion budget for FY2012, which is an increase of 1.5%, or $87.0 million, from the year-end estimates of FY2011. The proposed budget is a reasonable short-term plan to fund the District’s core educational mission through its difficult, deepening financial crisis. The Civic Federation is very concerned about the District’s…
The Civic Federation announced its support for the Chicago Public Schools proposed FY2012 budget in a 82-page analysis released today at civicfed.org. Although supporting the CPS’s proposed $5.9 billion spending plan for the coming school year, the Federation expresses strong concern about the District’s longer term fiscal health. CPS must begin work immediately on a long-term financial plan that…
