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Chicago Public Schools

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Chicago Public Schools’ Amended FY2017 Budget and Capital Plan

On November 16, 2016, Chicago Public Schools (CPS) released an amended FY2017 budget plan based on the contract agreement reached between the District and…

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Chicago Public Schools Transparency in Budget Documents, Websites and Government Proceedings

This brief, developed by a Civic Federation Task Force, features a number of recommendations on ways the Chicago Public Schools can increase government transparency and accountability, including transparency in meetings, website…

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Chicago Public Schools Pension Liabilities as Reported Under Governmental Accounting Standards Board Statements Number 67 and 68

In 2012 the Governmental Accounting Standards Board (GASB) issued new accounting and financial reporting standards for public pension plans and for governments,…

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Chicago Public Schools Reinstates Teachers Pension Levy

The Chicago Board of Education approved a reinstated dedicated pension levy as part of the Chicago Public Schools (CPS) FY2017 budget on August 24, 2016. The…

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Chicago Public Schools FY2017 Proposed Budget: Analysis and Recommendations

The Civic Federation cannot support the Chicago Public Schools proposed $5.46 billion budget because it effectively remains out-of-balance by relying on uncertain funding and one-time measures in order to close a $1.1 billion operating…

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Break in Illinois’ Budget Impasse Allows for Partial Spending Plan

After a yearlong stalemate, the State of Illinois finally saw a crack in its ongoing budget impasse on the last day of the fiscal year. The General Assembly rushed approval of bills authorizing a full year of preschool through high school…

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Local Governments Must Repay $168 Million to the State

In April 2016, the Illinois Department of Revenue announced that it discovered a misallocation totaling an estimated $168 million in…

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Alternatives to Bankruptcy for School Districts in Fiscal Crisis

The Chicago Public Schools faces a potentially devastating financial crisis. The elements of this crisis include:   An FY2016 budget that was not balanced as it depended on the vague hope that the State of Illinois will provide $…

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Short-term Liabilities of City of Chicago Increase through FY2014, while CPS and Cook County Short-term Liabilities Decrease

Short-term or current liabilities are financial obligations that must be satisfied within one year. They can include short-term debt, accounts payable, accrued payroll and other current liabilities. This blog post presents five-year…

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2015 Year in Review on Civic Federation Blog

The following are the five most read posts presented by the Civic Federation blog in 2015. These posts examine a number of closely followed local government issues, ranging from City and County taxes to Chicago pension debt.  …