Lack of pension fix jeopardizes Chicago school finances
This article covers the release of the Civic Federation’s FY2014 Chicago Public Schools Budget Analysis. The Civic Federation did not support the budget, which completely…
This article covers the release of the Civic Federation’s FY2014 Chicago Public Schools Budget Analysis. The Civic Federation did not support the budget, which completely…
This article discusses key findings from the Civic Federation’s FY2014 Chicago Public Schools Budget Analysis. The District’s financial situation continues to deteriorate…
The Civic Federation does not support the Chicago Public Schools (CPS) proposed $6.6 billion operating budget for FY2014, which completely draws down unrestricted reserve funds and uses some restricted reserves to close a $977 million…
(CHICAGO) In an analysis released today, the Civic Federation withholds support for the Chicago Public Schools (CPS) proposed $6.6 billion budget for FY2014, which closes a $977 million budget deficit with a complete drawdown of…
Last week the City of Chicago released its Annual Financial Analysis for 2013. According to an…
This article covers the July 31 release of the City of Chicago’s annual financial analysis, which projects a $1 billion deficit in 2015 if the City’s pension funds aren’t stabilized by major reforms. The Civic Federation said it would be…
Charged with finding a solution to the State of Illinois’ pension crisis, a legislative conference committee is considering a reform framework proposed by public university presidents. The central feature of the…
Amidst a flurry of reports on the State of Illinois’ inability to solve its ongoing pension crisis and…
On this segment, Civic Federation President Laurence Msall joined a panel discussion on the Illinois General Assembly’s failure to enact comprehensive pension reform before adjourning its spring session May 31. The Civic Federation…
Less than a week after the Illinois General Assembly adjourned its regular spring session without approving reform of the State’s underfunded retirement systems, two of the three major rating agencies have downgraded the State’s bond…