This article covers Mayor Rahm Emanuel seeking approval from City Council for $3 billion in borrowing, the biggest in his tenure. President of the Civic Federation, Laurence Msall, asks whether the record borrowing is in the best interest…
This article examines a ruling by the Illinois 4th District Appellate Court, finding that the 2012 law defining nonprofit hospitals’ property tax exemptions is unconstitutional. The particular ruling involves a case against the Carle…
After a 20-month hiatus from the municipal bond market, the State of Illinois recently announced it would sell bonds later this month in order to continue paying for ongoing capital projects in need of additional funding. According to…
This article reports on the City of Chicago seeking to borrow up to $3 billion dollars in 2016 to fund a mix of capital, water, sewer and airport projects. Several hundred million of the borrowing funds will go to refinancing existing city…
This article discusses the state of Illinois ending calendar year 2015—six months into FY2016—without a budget. With the current budget impasse, spending plans have driven up borrowing costs, the state’s credit rating has sunk and…
FY2016 Budget Season Summary December 3, 2015 marked the end of the budget season for the eight local governments monitored by the Civic Federation. These governments include: the…
This article discusses the Chicago Teachers Union’s recent vote to authorize a strike. If the strike were to happen, it would be the second strike in three years. Civic Federation President Laurence Msall explained that the District’s…
This article covers the Civic Federation’s December 3 analysis of the FY2016 Metropolitan Water Reclamation District Tentative Budget. The Federation…
This article discusses a December 1 meeting scheduled between Governor Rauner and four House and Senate leaders to discuss the Illinois budget and the ongoing budget impasse. The Civic Federation said there is an enormous financial cost to…
As Illinois enters the sixth month of fiscal year 2016 without a budget, the backlog of unpaid group health insurance bills has reached more than $2 billion and is likely to grow…
