This article discusses the City of Chicago mayoral election. It mentions that the Civic Federation’s “Financial Challenges for the New Mayor of Chicago” report is worth reading for information about the precarious condition of the City’s finances.
This article about the City of Chicago mayoral race and the challenges the next mayor will face cites a Civic Federation report that found that Chicago area governments’ unfunded pension liabilities total about $23 billion.
In this article about the market for Illinois bonds, the Civic Federation says that the State’s plan to borrow money to pay into its pension system is too expensive and that the State should consider cutting its costs if it cannot pay its pension contributions.
Civic Federation President Laurence Msall talks about the issues facing the next mayor of the City of Chicago in this news segment.
This segment discusses Rahm Emanuel’s mayoral campaign. It cites the warning in the Civic Federation’s “Financial Challenges for the New Mayor of Chicago” report that the City of Chicago’s finances are in precarious shape. Civic Federation President Laurence Msall adds that the City will likely need a combination of pension reforms, tax increases and cuts to fix its budgetary troubles.
In order to pay income tax refunds owed to taxpayers, the State of Illinois sets aside a percentage of income tax receipts received throughout the year and deposits them into a special fund. Different percentages apply to individuals and businesses, but all refunds are paid from the same fund—the Income Tax Refund Fund. These percentages are known as Refund Fund rates. The higher the Refund Fund…
The long-term lease of assets by the City of Chicago is one of the most significant financial undertakings by the City in recent years. These groundbreaking transactions have received national attention and been examined by other governments interested in new models of public private partnerships. Recognizing the importance of these actions, the Civic Federation continues to examine these complex…
This article discusses the Civic Federation's support for Cook County President Toni Preckwinkle's FY2011 proposed budget, based in part on its moves to reduce the size of its operations. It mentions that the Federation has concerns about the County's pension obligations.
In this article about the City of Chicago mayoral race and the various fiscal issues the candidates have been debating, the Civic Federation says that for the City to stabilize its finances, it will need major structural changes in its operations.
This editorial discusses Governor Pat Quinn’s FY2012 State of Illinois proposed budget and the need for major fiscal reform in Illinois. The Civic Federation says that limited and short-term borrowing to pay overdue bills may be an idea worth considering.
