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The Board of Education approved a fiscal 2024 budget amid warnings about the need for more state help to manage a gap of up to $700 million in fiscal 2026.
June 29
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David Fields, Rob Whitlock and Naomi O'Dell have been hired from RBC Capital Markets and will work out of the firm's Philadelphia and Chicago offices.
June 28
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"We believe pensions have an elevated probability of stressing the state and local governments' budgets even as Illinois has made supplemental contributions above the statutorily required amounts," S&P Global Ratings analyst Joseph Vodziak said.
June 27
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A $100 million offering of voter-authorized general obligation bonds will speed up blight removal and fund parks and transportation projects.
June 27
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The Police and Fire Retirement System lacks authority to shift to a 20-year amortization of unfunded legacy liabilities from the 30-year term laid out in the city's bankruptcy exit plan, according to a judge's ruling that eases one fiscal pressure point for the city.
June 26
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The early redemption plan saves the state $266 million in interest payments and allows pull-tab gambling revenue to flow to the general fund.
June 26
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The task force expects to "form sub-groups to address specific pension issues and dedicated revenue as part of a comprehensive and balanced approach."
June 22
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The gap next year is up from the $18.2 million shortfall projected heading into the fiscal 2023 budget season but down from the $121.4 million projection in 2022 and the expected near-record $410 million hole that loomed in 2021.
June 21
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Jack Brofman will start at the University of Chicago July 17 as executive director of global treasury operations.
June 21
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New or increased fees on electric vehicles are the second-most popular category among transportation state legislation so far this year, per ARTBA.
June 20
