In this news segment, Civic Federation President Laurence Msall explains the Civic Federation’s analysis of Chicago Public Schools’ FY2011 proposed budget.
This article discusses findings in the Civic Federation’s analysis of the Chicago Public Schools FY2011 proposed budget. The article mentions the Federation’s warnings about the future budget gap created by a partial pension holiday over the next three years granted to CPS by the State of Illinois.
On Monday the Civic Federation released its analysis of the Chicago Public Schools FY2011 proposed budget. The Federation supported the $6.5 billion spending plan because it offered a short-term solution to the District’s difficult, deepening financial crisis. This budget will allow schools to open on time and continue to provide students with access to education across Chicago. The Civic…
The following letter to the editor of the Chicago Tribune from Civic Federation President Laurence Msall was published on August 24, 2010. As a non-partisan, independent government research organization, the Civic Federation applauds R. Eden Martin, the Commercial Club and the Chicago Tribune for their efforts to bring more attention to the looming catastrophe that is our state pension system ("…
Spending Plan Exposes District to Greater Financial Risk in the Future The Civic Federation supports the FY2011 proposed Chicago Public Schools budget of $6.5 billion as an adequate plan to close a large deficit and ensure continued access to education for students across Chicago this year. However, the Federation is very concerned that the spending plan guarantees future fiscal distress by…
The Civic Federation supports the Chicago Public Schools proposed $6.5 billion budget for FY2011, which is a reduction of 5.9% or $402.3 million from the proposed FY2010 budget. The proposed budget offers a short-term solution to the District’s difficult, deepening financial crisis. This budget will allow schools to open on time and continue to provide students with access to education across…
This article describes how Illinois' budget crisis is affecting schools, universities and social services across the state. The Civic Federation is quoted saying that the State's budget situation has been getting worse, financed by more borrowing and more unpaid bills.
This National Public Radio segment is about how some states are struggling to cope with massive budget deficits. Civic Federation President Laurence Msall says Illinois’ fiscal troubles – 30 years in the making and rooted partially in the State’s underfunded public pension system – are causing the State to delay payments to service providers and schools and its bond ratings to fall.
This article is about how state pension systems around the country are coping with the effects of the financial crisis. The Civic Federation comments on the State of Illinois’ recent pension reforms, saying that the reforms are a good first step, but do not address the State’s unfunded pension liabilities.
This editorial discusses recent efforts to overhaul the State of Illinois’ public pension systems and reduce its unfunded liabilities. It mentions a Civic Federation proposal to eliminate the income tax exemption for pension income in Illinois as a possible part of a solution to the State’s budget crisis, which is caused in part by Illinois’ underfunded pension system.
