Yvette Shields

One day after scrambling to cover a $634 million teachers’ pension payment, Chicago and its public school system warned of the dire impact that looms if the state doesn’t either take over the district’s pension fund or cover a big share of the cash-strapped district’s contributions.

A one-month, $2.26 billion budget to fund essential services in Illinois amid an ongoing stalemate over a fiscal 2016 budget failed in the House Wednesday.

The Illinois General Assembly's Democratic majority will press ahead Wednesday with a vote on a $2.26 billion, one-month budget to fund essential services as the new fiscal year dawns with no end to a budget stalemate in sight.

Chicago and school officials plan Wednesday to lay out a comprehensive, long-term plan to address the pension and funding inequities for Illinois' schools.

Chicago Public Schools intends to make a $634 million pension payment due by the end of June 30, House Speaker Michael Madigan said.

Puerto Rico's insolvency is a game changer that will have a deep and far-reaching impact on the market, municipal professionals said Tuesday at a Bond Buyer conference in Chicago.

Illinois lawmakers convene Tuesday for a discussion on the impact of the partial government shutdown that looms due to a continuing budget impasse.

Clark Burrus, counsel to multiple Chicago mayors and mentor to countless public finance professionals, died this month. He was 86. He was remembered for both his financial and political acumen at funeral services last week.

Missouri budget director Linda Luebbering, who steered the state through recession while helping maintain its triple-A ratings, will retire August 6.

The Illinois State Toll Highway Authority is issuing up to $400 million of toll-backed revenue bonds next month, the first of two new-money borrowings to finance a record year of capital spending.

Illinois Democrats warned that Gov. Bruce Rauner’s veto Thursday of all but education spending bills in the fiscal 2016 budget moves the state closer to a partial governmental shutdown.

The Chicago Board of Education approved resolutions authorizing $1.135 billion of short term tax anticipation note and warrant-backed borrowing to manage its precarious liquidity position.

While a state budget impasse otherwise shows no signs of easing, Illinois Gov. Bruce Rauner did sign off on education spending for the next fiscal year.

Standard & Poor’s has put Wayne County’s speculative grade rating on CreditWatch with negative implications following its request for state intervention.

The Chicago Public Schools’ efforts to ease a liquidity squeeze with a bill to delay a pension payment failed amid the ongoing clash between Gov. Bruce Rauner and House Speaker Michael Madigan.

Moody’s Investors Service has revised its outlook on Kansas City, Missouri’s Airport Enterprise ratings to positive thanks to recent revenue and traffic growth.

Chicago’s school system is trying to avert a liquidity crisis through two short-term fixes to provide breathing room as it pursues long-term solutions to its pension and budget ills.

The cash-strapped Chicago Public Schools is pushing off release of its fiscal 2016 budget and looking at $1.1 billion of tax anticipation and note borrowing through new credit lines as it struggles to stay afloat.

Gilmore & Bell PC, one of the top-ranked Midwestern bond counsel firms, has formally landed in Illinois with the opening a downstate office in Edwardsville, the law firm said Monday.

A $525 million boost in state public education funding over the next two years is a credit positive for Minnesota’s school districts, Moody’s Investors Service said Friday.