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Government Budgets

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States Beg, Borrow and Cut to Cope with Pandemic-Wracked Finances

The COVID-19 pandemic has had a devastating impact on state budgets, with tax revenue shortfalls estimated to total about $200 billion for fiscal years 2020 and 2021 compared with initial projections.…

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Federal Relief Funding to Chicago Public Schools, Now and Then

In March Congress passed the $2.2 trillion CARES Act, the third federal coronavirus relief act, which among many…

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Cook County’s FY2020 and FY2021 Budget Forecasts Significantly Impacted by COVID-19

On June 26, 2020, Cook County Board President Toni Preckwinkle issued a preliminary budget forecast for fiscal year 2021,…

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City Colleges Releases FY2021 Capital Budget

City Colleges of Chicago released its tentative FY2021 operating and capital budgets on June 23, 2020. The total…

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CARES Act Funds to Reach Smaller Illinois Counties and Municipalities

Since the federal government provided $139 billion of coronavirus relief funds to states and large cities and counties in April,…

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What is the Chicago Police Department Budget?

In the wake of protests over the deaths of George Floyd and other Black Americans at the hands of police officers, police accountability and reform has risen to the forefront in government discussions, and residents in…

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Illinois FY2021 Budget Relies on Federal Loans and Backlog Borrowing

When Illinois lawmakers met in Springfield to pass a budget for the upcoming fiscal year, the main issue they confronted was the tax…

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Illinois Governments will Likely Issue More Short-Term Debt to Deal with Revenue Shortfalls Caused by the COVID-19 Pandemic

UPDATE: Since the Civic Federation published this blog post, there have been two significant updates to report, as detailed in this follow-up post…

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Cook County April Revenue Estimates Show Early Impact of COVID-19

Revenue estimates presented at the April 29, 2020 meeting of the…

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Estimating the COVID-19 Pandemic’s Impact on the State of Illinois Budget

UPDATE: On May 5, Illinois…