Watchdog group: Ill. Budget a ‘lost opportunity’
This segment covers the release of the FY2014 Enacted Budget Analysis by the Civic Federation’s Institute for Illinois’ Fiscal Sustainability on October 2. The report warns this year’s…
This segment covers the release of the FY2014 Enacted Budget Analysis by the Civic Federation’s Institute for Illinois’ Fiscal Sustainability on October 2. The report warns this year’s…
Aided by an unexpected surge in income tax collections in April 2013, the State of Illinois’ backlog of unpaid bills is projected to decline to roughly $5.8 billion at the end of FY2014. As shown in the table below and discussed in a…
Over the next few weeks, many Chicago-area local governments will be releasing their proposed budgets for fiscal year 2014. In preparation for the upcoming budget releases, this blog will recap the Civic Federation’s significant…
Failure to address pension crisis, plan for upcoming revenue loss threatens to erase progress on State’s backlog of unpaid bills (CHICAGO) – An analysis released today by the Institute for Illinois’ Fiscal Sustainability at the Civic…
This analysis of the State of Illinois’ Fiscal Year 2014 Enacted Budget finds that the budget may represent a high-water mark, with future years bringing sharp reductions in revenues and further consequences of the unresolved pension…
The State of Illinois does not currently have a comprehensive policy on economic development incentives. Instead, the State offers a wide variety of financial incentives that reduce specific State or local tax burdens for businesses…
An effort to clear Illinois’ Medicaid program of ineligible enrollees has led to the removal of 128,700 participants, but State savings are expected to be far lower than hoped by lawmakers, according to testimony at a legislative hearing…
Several recently enacted laws are designed to increase public access to information about the State of Illinois’ budget and improve other aspects of the State’s budget process. The following table lists budget-related legislation signed by…
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…