When the General Assembly reconvenes next week for its annual veto session, it is expected to continue deliberating whether to borrow in FY2011 to make its required pension payment. If approved, the borrowing plan would lighten the load on…
In this news segment, Civic Federation President Laurence Msall explains why the Civic Federation opposes the City of Chicago’s FY2011 budget. Mr. Msall explains that the City needs major pension fund reforms and must not rely on one-time…
After experiencing several years of poor market conditions, three of the five Illinois State employee retirement funds have reduced their expected rate of return on investments. This rate, also known as the discount rate, is used to…
As explained in its recent analysis of the State of Illinois FY2011 proposed budget, the Civic Federation opposes the practice of supplying money to the State…
The Civic Federation opposes the proposed FY2011 City of Chicago budget of nearly $6.2 billion because it does not effectively address the structural deficit and relies too heavily on asset lease reserve funds and debt restructuring to…
The Civic Federation announced today that it opposes the $6.2 billion FY2011 City of Chicago budget because it does not do enough to address the City’s structural deficit. Instead it relies upon long-term asset lease funds and other non-…
In this blog post, Greg Hinz examines some of the recommendations in the Civic Federation’s Cook County Modernization Report.
The Civic Federation supports the Chicago Transit Authority’s (CTA) proposed FY2011 budget of $1.3 billion but has significant concerns for the agency in the longer term. The budget is a 5.2% or $66.7 million increase from the…
Group Retains Concerns about Use of Capital Funds to Balance Budget The Civic Federation announced today that it supports the FY2011 Chicago Transit Authority proposed budget of $1.3 billion because it implements efficiencies and cost-…
Civic Federation Supports FY2011 Budget, Urges More Complete Planning Process Citing DuPage County’s plan to cut expenditures by 3.0% while pledging to maintain core services, the Civic Federation announced today that it supports the…
