This article discusses the issues City of Chicago Mayor Rahm Emanuel must confront as he works to restore fiscal health to the City’s finances. The Civic Federation says that the City must reduce personnel costs and adequately fund its pension systems to improve its finances.
A new report estimates that the State of Illinois could save between $260 million and $300 million in FY2012 by increasing the share of health insurance premiums paid by retirees and their dependents from the current average of roughly 9% to approximately 50%. As previously discussed on this blog, the General Assembly’s Commission on Government Forecasting and Accountability (COGFA) hired a…
This article compares fire department staffing levels in Chicago to other large American cities and finds that the City of Chicago’s staffing level ranks third, behind New York City and Philadelphia. The Civic Federation says that the City should consider reducing its ranks of public safety personnel to bring staffing levels in line with the actual needs of the community.
An actuarial projection of the future solvency of the Chicago Park District’s pension fund has estimated that the fund will exhaust its assets in the year 2025.[1] The projection takes into account the reduced pensions for employees hired on or after January 1, 2011 pursuant to Public Act 96-0889. The Park District’s pension fund was relatively healthy just ten years ago. In FY2001 it had a…
Earlier this week the Institute for Illinois’ Fiscal Sustainability at the Civic Federation released its analysis of Governor Pat Quinn’s proposed FY2012 operating budget. The report found that the proposed FY2012 budget had a General Funds operating shortfall of $2.4 billion due to increased spending and overestimated revenues. The Civic Federation opposed the Governor’s proposed budget due to…
This editorial discusses findings in the Civic Federation’s analysis of the Governor Quinn’s FY2012 budget proposal for the State of Illinois.
This article discusses the Civic Federation’s analysis of the State of Illinois FY2012 proposed budget. It highlights the Federation’s reasons for rejecting the budget plan, which include a budget gap of $2.4 billion and a dependence on borrowing to pay overdue bills.
A key component of Cook County’s plan to remake its public health system was rejected by a State of Illinois board on May 10, 2011, adding to concerns that the County might have difficulties implementing its FY2011 budget. At a meeting in Joliet, the Illinois Health Facilities and Services Review Board (Health Facilities Board) rejected by one vote the request to end inpatient and emergency room…
The State of Illinois’ largest area of capital investment, transportation projects, received a funding boost this week when the federal government announced additional grants to support high-speed rail projects in Illinois. The U.S. Department of Transportation notified Illinois in the past week that it would receive two additional grants for high-speed rail. On May 4, 2011, the State…
Civic Federation President Laurence Msall discusses Governor Quinn’s FY2012 budget and pension reform in this roundtable discussion.
