Yvette Shields

A new report lays out motor fuel, sales, and miles-traveled tax options to fix Michigan roads, saying the state is falling almost $4 billion behind every year.

The transportation revenue bond sale comes as legislative work on a new budget package is ramping up with the GOP expected to craft its own operating and capital spending plans.

Governance decisions and rapidly escalating deficits contributed to Moody's decision to cut Illinois Tech's rating two notches to speculative grade.

The $750 million in state grants will go to eligible local government public pension funds that have funded ratios under 60%.

Illinois lawmakers' research arm projects more revenue in the current budget year but warns budget writers to proceed with caution in the next.

Mayor Mike Duggan proposed a budget that includes the resumption of general fund pension contributions, meeting a timetable set in the city's bankruptcy exit.

Each would preserve their individual brands with a new organization functioning as the parent company with the aim of cutting administrative costs.

A stronger 2021 aided hospital balance sheets for those whose fiscal years end on June 30 based on a review of hospital operating medians

The state's once-depleted rainy-day fund that's now on track to hit nearly $2 billion this year would receive automatic deposits when two financial metrics are hit under pending legislation.

Paul Vallas, a former city budget director and public schools chief, and Brandon Johnson, a Cook County commissioner and teachers' union organizer were the two top vote-getters in Tuesday's election sending them to an April runoff.

Questions arise over the condition of rail infrastructure and how it should influence credit and buy side analysis of local governments that host rail lines.

The state's flagship university said its proposal to acquire its healthcare facilities from Fairview, which is preparing to merge with an out-of-state healthcare system, requires state help.

Sarah Wetmore, its VP and research director, will lead the organization while the board searches for a permanent president following Laurence Msall's death.

Chicago's school district will tap its investment-grade dedicated capital improvement tax credit for the first time in five years in a $529 million deal.

Moody's and S&P also warn of the potential for further downgrades; UC Health has begun to implement financial turnaround strategies amid operating losses.

A key consideration in the upgrade was the state's recent actions in both addressing longstanding obligation repayments and rapidly repaying obligations taken on during the pandemic-induced recession, S&P said.

Earlier in the pandemic, bond values showed a greater divergence among local government issuers tracked, but that has reverted to pre-pandemic levels, although work-from-home and other uncertainties still take a toll.

The state's public pension system initially warned of a $6.7 billion 10-year impact of the required changes that could drive up employer pension costs but an amended version eliminated most of the negative impact clearing the path to advance the bill.

A panel that includes public finance professionals is tasked with finding fiscal and operational solutions for the transit systems, which face a fiscal cliff.

Gov. J.B. Priztker touted the state's fiscal progress in his combined budget and state of the state speech.