The Civic Federation opposes the FY2010 City of Chicago budget of $6.14 billion because it is unsustainable and relies too heavily on one-time reserve funds to close a $520.0 million budget deficit. The proposed drastic draw down of long-…
This news segment about Mayor Daley’s plans to close a $500 million City of Chicago budget gap with funds from the City’s privatization deals quotes the Civic Federation, which cautions that forecasted revenues for next year may not be…
In this news story, the Civic Federation cautions the City of Chicago against using its cash reserves, funded from the City’s recent asset privatization deals, to fill a budget deficit. The Federation notes that such a move will compromise…
Since 2004, the City of Chicago has transacted three major long term asset leases worth over $3.5 billion. The Chicago Skyway (2004) – A 99-year lease with Cintra-Macquarie with a transaction value of $1.83 billion. Downtown…
This article describes the City of Chicago’s plans to close an operating budget deficit of about $300 million with worker furloughs and funds received as part of the privatization of the city’s assets. The Civic Federation is quoted…
The Civic Federation opposes the Cook County FY2009 proposed budget because it is built on an unstable foundation of $364.0 million in borrowed funds to pay for operating expenses less than a year after the County raised its sales tax by…
The Civic Federation supports the FY2009 City of Chicago budget of $5.97 billion because it does not rely on raising property tax and begins the painful yet necessary step of reducing payroll by 2,618 full-time equivalent positions to…
The Civic Federation supports the Chicago Park District’s FY2009 budget because it is a fiscally responsible plan and demonstrates a commendable emphasis on cost containment and avoids a property tax increase for the fifth consecutive year…
The Civic Federation supports the CTA’s FY2009 budget of $1.3 billion as a responsible short-term plan to provide critical mass transit services to the Chicagoland population. The CTA’s proposed fare increases of 25 to 50 cents per ride,…
The Civic Federation supports the Forest Preserve District's proposed $193.6 million budget because the District will freeze its property tax levy this year and maintains a prudent fund balance. However, the Federation warns that the…
