Yvette Shields

Chicago's general obligation bond ratings will remain pressured until the city fully fixes its pension mess, top city finance officials told alderman, while warning City Council not to expect to use reserves to ease the pain of a coming $550 million pension spike.

Standard & Poor's dropped Higginsville, Missouri's 2010 sewerage system revenue bonds down three notches to the lowest investment grade level Wednesday over its weakened fiscal position.

Illinois closed out the first quarter of fiscal 2015 with its bill backlog holding steady at nearly $5 billion, state Comptroller Judy Baar Topinka reported in her office's monthly update.

Wisconsin closed out its last fiscal year with a $517 million undesignated ending balance, the Department of Administration reported Wednesday in the state's annual fiscal report for fiscal 2014.

The Alta Group's Bob Neptune will receive the 2014 Jay Terry Lifetime Achievement Award from the Association for Governmental Leasing & Finance at its national conference next month.

Moody's Investor’s Service returned Vadnais Heights, Minn.'s general obligation bonds to low investment grade, now that a resolution is in place on $27 million of bonds that defaulted after the city failed to honor a pledge on a sports complex.

The Illinois State Toll Highway Authority unveiled a preliminary 2015 budget Wednesday that relies on as much as $800 million of toll-backed borrowing to support $1.6 billion in capital spending.

Chicago Mayor Rahm Emanuel proposed erasing $300 million of red ink by raising parking and leasing taxes, expected savings, and cuts in a 2015 budget that delays tackling a $550 million pension reckoning.

Stricken by cancer, Chicago Teachers Union President Karen Lewis won't try to unseat Chicago Mayor Rahm Emanuel in next year's mayoral contest.

Investors holding $113 million of bonds issued for the privately owned and operated Branson Airport in Missouri have agreed to a amended forbearance agreement that gives the struggling Ozarks air field more time to pick up operations.

Wisconsin voters will vote next month on whether to amend the state constitution to ban the diversion of transportation fund revenues for other expenses.

Moody's Investors Service has hit the Rock Island County Forest Preserve District in Illinois with a triple-notch downgrade and warning that further action could loom over its fiscal challenges.

The transit agency that provides commuter rail in the Chicago region could soon join the ranks of tax-exempt borrowers under a proposed $2.4 billion, 10-year capital program that relies on about $400 million of financing.

Illinois Gov. Pat Quinn's administration says its plan to build a $1.5 billion privately financed toll road in partnership with Indiana remains on track with the endorsement of a key Chicago area planning committee.

The Civic Committee of the Commercial Club of Chicago said it plans an initiative to promote a dialogue on the consequences should the Illinois Supreme Court overturn pension reforms adopted last year.

Chicago Mayor Rahm Emanuel and the Chicago Public Schools plan to expand early childhood education programs through a $17 million Social Impact Bond.

Milwaukee will take competitive bids Wednesday on $125 million of revenue anticipation notes for the city's public school system.

A new quantitative fiscal review of four Chicago charter schools and networks ranks two as financially healthy while the other two face negative trends that could hinder their long term prospects.

Standard & Poor's has bumped Howard Young Health Care Inc. firmly into single A category with a two notch upgrade in recognition of tis strong financials and its parent's relationship with Ascension Health Alliance last year.

Chicago Mayor Rahm Emanuel vowed not to raise property, sales, or gasoline taxes to help erase $297 million of red ink in his proposed 2015 budget, set to be unveiled later this month.