Midwest

Chicago Public Schools will get more than it budgeted for from the federal emergency relief bill; the Illinois Regional Transportation Authority got a bit less.

Michigan Gov. Gretchen Whitmer named Dave Massaron to replace Budget Director Chris Kolb, who is taking an administrative job at the University of Michigan.

Illinois closed Thursday on its second MLF borrowing as the program nears its expiration date.

Chicago's CFO turned to short-term borrowing to see whether the federal government comes through with aid to make up for the COVID-19 pandemic's tax blows.

The state will repay borrowing by the Michigan Strategic Fund to cover its $600 million preliminary settlement over the Flint water contamination crisis.

The high-yield deal will mark the junk-rated city's third post-bankruptcy general obligation issue on its own credit, without any external support.

Illinois expects to close by the end of the week on a three-year loan through the Federal Reserve at 3.42%, a steep penalty compared to the state's current trading levels.

The state of Illinois sold $2 billion of three-year notes to the Federal Reserve's Municipal Liquidity Facility at 3.42%.

The authority that financed baseball and football stadiums in Chicago is sounding fiscal alarms as the coronavirus pandemic crushes hotel tax revenue.

Fiscal 2020 added another $3.8 billion to the state's unfunded pension liabilities, according to a new state report.