Yvette Shields

Calling the state's fiscal condition "stunningly bad," Illinois Gov.-elect Bruce Rauner called on Gov. Pat Quinn to freeze hiring and not move political appointees into union protected jobs.

Local county officials in Illinois will be offered special financial training on how to protect their coffers from corrupt fiscal practices similar to what happened in Dixon, Ill. where the comptroller stole more than $50 million in public money.

Wisconsin could win an upgrade if recent budgetary and liquidity strides remain on course and result in a stronger balance sheet and reserves, Moody's Investors Service said in shifting the state's general obligation outlook to positive.

Missouri Gov. Jay Nixon tasked a newly formed commission with advising him on social and economic policy changes in the aftermath of violent protests in Ferguson Missouri sparked by the police shooting of an unarmed civilian.

The Chicago Transit Authority's $1.4 billion 2015 budget won the endorsement of the Civic Federation of Chicago in recognition of the agency's fiscal strides.

Annual income taxes Wisconsin receives from Milwaukee Bucks basketball players and team employees would cover repayment of $150 million of 20-year state general obligation backed bonds for a new stadium, according to the nonpartisan Legislative Fiscal Bureau.

The Chicago City Council approved new rules that require underwriting, advisory, and legal firms that work on Chicago bond deals to report the racial, ethnic and gender makeup of the teams on their transactions.

The Chicago City Council adopted Mayor Rahm Emanuel's $7.3 billion 2015 budget that pushes off a fix for a pension-related fiscal cliff until after next year's municipal elections.

Some Chicago aldermen want the SEC and city inspector general to investigate campaign contributions to Mayor Rahm Emanuel from executives at firms with city pension business.

Underwriting, advisory, and legal firms that work on Chicago bond deals would face heightened disclosure rules about the diversity of their teams working on a transaction under a proposed ordinance.

The Wisconsin Department of Transportation proposed a series of tax and fee hikes to raise $750 million over the next two years to address a funding gap.

Cincinnati-based Dinsmore & Shohl LLP has hired public finance attorney Matthew Miller to bolster its Chicago office.

Metra, the transit agency that provides commuter rail linking Chicago suburbs to Chicago, approved a 2015 budget that sets the stage for the agency's debut as a tax-exempt borrower with an inaugural $100 million issue.

A Chicago parks advocacy group has launched a legal challenge to block Star Wars' creator George Lucas' plans to use a site along with Lake Michigan shoreline for his proposed museum.

Missouri will offer its first new-money sale in seven years with its top ratings intact as analysts say it's too early to tell whether a newly approved constitutional amendment or tax cut package will undercut state finances.

An influential Chicago area planning agency will press state lawmakers to establish a regional infrastructure fund supported by a quarter-cent sales tax increase with its eye on financing transportation, water, and open space projects.

Moody's Investors Service downgraded McLean County School District Number 87 in Bloomington, Ill. one notch to Aa2 as it prepares to come to market with a $20 million new money and refunding issue.

Moody's Investors Service has downgraded Iowa-based Algona Municipal Utility's electric revenue bonds by one level to Baa1 over its fiscal struggles.

The fall meeting of the Municipal CFO Forum slated for Thursday and Friday in Chicago will focus on "financial communications."

Bruce Cole, the head of Mamtek USA, the firm that triggered Moberly, Missouri's default on $39 million of municipal bonds sold for a failed sucralose plant, received a seven year prison sentence for theft and securities fraud.