This segment discusses a lawsuit filed by Illinois legislative leaders over Governor Quinn’s July veto that withholds pay from lawmakers until pension reform legislation is passed. The Civic Federation said the underlying issue of the…
The blogs for this week and next week will examine the long-term obligations of six selected municipalities in Illinois and their overlapping local governments using per capita indicators based on unfunded pension liabilities and bonded…
In this segment, Civic Federation President Laurence Msall discusses the findings of the Federation’s FY2014 Chicago Public Schools Budget Analysis. The Civic Federation…
This editorial discusses the need for pension reform for Chicago Public Schools and District officials’ failure to detail a pension plan. The editorial cites the Civic Federation’s…
This article covers the release of the Civic Federation’s FY2014 Chicago Public Schools Budget Analysis. The Civic Federation did not support the budget, which completely…
This article discusses key findings from the Civic Federation’s FY2014 Chicago Public Schools Budget Analysis. The District’s financial situation continues to deteriorate…
The Civic Federation does not support the Chicago Public Schools (CPS) proposed $6.6 billion operating budget for FY2014, which completely draws down unrestricted reserve funds and uses some restricted reserves to close a $977 million…
(CHICAGO) In an analysis released today, the Civic Federation withholds support for the Chicago Public Schools (CPS) proposed $6.6 billion budget for FY2014, which closes a $977 million budget deficit with a complete drawdown of…
Last week the City of Chicago released its Annual Financial Analysis for 2013. According to an…
This article covers the July 31 release of the City of Chicago’s annual financial analysis, which projects a $1 billion deficit in 2015 if the City’s pension funds aren’t stabilized by major reforms. The Civic Federation said it would be…
