Yvette Shields

The Chicago Board of Education last week voted to rescind a planned 4% teachers’ raise in the district’s next $6.5 billion budget as it struggles with a looming $712 million deficit.

CHICAGO - Wisconsin Gov. Scott Walker will spend the next week or so reviewing the $66 billion, two-year budget approved by lawmakers before signing the spending plan, which closely resembles his original proposal by dealing with a $3 billion deficit primarily with cuts.

CHICAGO - Legislative gridlock and political discord in the Midwest have put Minnesota on the path towards a partial government shutdown, stalled action on a new budget in Iowa, and threatened Illinois' summer construction season.

CHICAGO — A New York State court judge has ordered Assured Guaranty Corp. to honor coverage of $83.3 million of Iowa's Xenia Rural Water District bonds as part of its 2009 reinsurance agreement with CIFG Assurance North America Inc.

CHICAGO — Washington University in St. Louis will enter the market Thursday with nearly $200 million of new-money and refunding revenue bonds that will help finance projects and introduce taxable bonds into the top-rated school's debt portfolio.

CHICAGO - Debate was expected to began Wednesday in the Wisconsin Assembly on a new budget, one day after the state's high court reinstated Gov. Scott Walker's budget repair bill that raised employee pension payments and health care premiums and curbed most public unions' collective bargaining rights.

CHICAGO — A New York State court judge has ruled that Assured Guaranty Corp. is on the hook to cover $83.3 million of Iowa’s Xenia Rural Water District bonds as part of its reinsurance agreement with CIFG Assurance North America Inc.

CHICAGO - While its issuance levels recently have reflected the national slowdown, the Illinois Finance Authority is seeing some pickup in health-care deal flow with four issues for nearly $800 million in the works, including $533 million for the state's largest health care system and three direct bank purchases.

Moody’s Investors Service has upgraded Lake Geneva’s rating a notch to Aa2, citing its solid financial position.

Standard & Poor’s last week lowered its rating on the Nevada Regional Medical Center into junk bond territory due to ongoing strains on the balance sheet.

Minnesota issued layoff notices late last week to 36,000 employees ahead of a partial government shutdown on July 1 if state leaders cannot resolve an impasse over a new two-year budget.

Gov. Pat Quinn last week named Gery Chico to serve as chairman of the Illinois State Board of Education.

Illinois Comptroller Judy Baar Topinka on Monday announced a revamped state website with new features aimed at easing public access to financial records and reports.

Chicago and Cook County, collectively facing nearly $1 billion of red ink in their next budgets, could save up to $140 million in coming years by consolidating their purchasing power and some services and collaborating on their capital programs, according to a report released Monday.

CHICAGO - Missouri Gov. Jay Nixon on Friday signed into law a $23 billion fiscal 2012 budget after cutting $172 million from the plan approved by lawmakers in order to keep spending in line with expected revenue and to set aside $50 million for recent weather-related disasters.

CHICAGO — Facing a funding crisis, the Missouri Highways and Transportation Commission has adopted a five-year budget plan that eliminates more than 1,000 positions and shutters facilities to save $500 million for project funding as the agency recedes from the ranks of frequent issuers.

Ramsey County would bear none of the fiscal burden of a $350 million revenue bond issue for a new Minnesota Vikings stadium because a new sales tax would generate sufficient revenue to repay the debt, according to a report.

Moody’s Investors Service last week affirmed Allina Health Systems’ A1 rating and signaled an upgrade could be in the offing if it maintains its strong financial performance of the last two years.

Illinois Gov. Pat Quinn last week announced a state partnership with the University of Illinois and a special advisory group to study the feasibility of high-speed rail service between Chicago and Champaign-Urbana and possibly to other parts of the state and neighboring cities.

CHICAGO — Calling for a special legislative session, Illinois Gov. Pat Quinn on Monday warned that the General Assembly’s failure to authorize a capital spending bill before adjourning last week jeopardizes billions of dollars in construction projects.