Civic Federation says Chicago Public Schools' finances could lead to a credit downgrade
The Civic Federation's finance report for the 2025 budget raises serious concerns about how the district will survive in the future.
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The Civic Federation's finance report for the 2025 budget raises serious concerns about how the district will survive in the future.
The Civic Federation’s finance report for the 2025 budget raises serious concerns about how the district will survive in the future. Jermont Terry reports.
The budget watchdog group said CPS' finances are in such bad shape that the State of Illinois may need to take control of the school district.
It turns out Mayor Brandon Johnson has more executive-level staff than other recent mayors.
It turns out Mayor Brandon Johnson has more executive-level staff than other recent mayors. Tara Molina reports.
The CBS 2 Investigators analyzed more than 1 million rows of city budget office data. The data showed the five key city departments that relied on overtime the most.
In one department, just two employees took home a combined total of nearly $500,000 in overtime, city budget office data show. CBS 2's Suzanne Le Mignot rpeorts.
Mayor Brandon Johnson said repeatedly that the Bears' plan for a new stadium -- which relies partially on public money -- would not come at an additional cost to taxpayers. But one expert says when it comes to the infrastructure improvements that are part of the plan, that may not be true. CBS 2's Sabrina Franza reports.
Mayor Brandon Johnson denied that the Bears’ shiny new dome could end up costing taxpayers a pretty penny, but an expert said the infrastructure around it very well might. CBS 2's Sabrina Franza reports.
The Civic Federation announced he died Saturday afternoon following complications from surgery.
The Civic Federation announced he died Saturday afternoon following complications from surgery.
CPS is maxing out their ask this tax year, despite enrollment hitting 10-year lows. CBS 2's Chris Tye reports.
As CBS 2 Political Investigator Dana Kozlov reports, this is the first time in almost 80 years the Cook County Forest Preserve District is asking voters for more money.
Mayor Lori Lightfoot on Monday laid out her $16.7 billion budget proposal in front of the City Council.
Facing an unprecedented $1.2 billion shortfall for next year, Mayor Lori Lightfoot on Wednesday proposed a $94 million property tax hike, a 3 cents per gallon increase in the city's gas tax, hundreds of layoffs, and eliminating nearly 2,000 vacant positions.
We're being bombarded by them – ads for and against the graduated income tax proposal for Illinois that will be on the ballot next month.
CBS 2 Morning Insider Lauren Victory made some interesting finds in the state's revenue report released this week.
Illinois state lawmakers were back home in their districts for the holiday Monday, after a whirlwind of a special session in Springfield. Two of the winners after votes were cast were the City of Chicago and state restaurant and bar owners.
The math is staggering – according to the U.S. Department of Labor, there were 114,663 unemployment claims in Illinois alone last week amid the coronavirus crisis.
The mayor's plan relies on the Illinois General Assembly to approve a graduated real estate transfer tax, revisions to the Chicago casino plan, and statewide pension reform.
Chicago needs 276 million for police and fire pensions. And in 2022, another 310 million for municipal pensions.
The layoffs this week of 18 firefighters and 13 police officers came after a court ordered pension payment Harvey can't afford to make.
Interest on the latest loans to pay down bills is better than paying late-penalty fees, the leader of the Civic Federation says.
Civic Federation President Laurence Msall said the state's credit rating is "a national embarrassment" as a result of the budget impasse.
The Civic Federation has issued an 86-page report on the governor's 2018 budget plan, and has said the proposal falls short.
