Midwest

CHICAGO — Ahead of the Chicago Board of Education's expected vote Wednesday on a new $5.9 billion budget, a local watchdog group endorsed the plan to eliminate a $712 million deficit through cuts, use of reserves, and a property tax hike, but warned of a looming fiscal crisis unless the district overhauls its spending habits.

Moody's Investors Service put Western Missouri Medical Center's MIG-1 rating on $46.6 million of notes on negative watch for a possible downgrade due to a change in how the rating agency analyzes support under the U.S. Department of Agriculture's Rural Development loan program.

Minnesota last week completed its sale of $60 million of revenue bonds to raise funds for the ongoing construction of a statewide communications system known as the Allied Radio Matrix for Emergency Response system, or ARMER.

Moody's Investors Service this week affirmed its Aaa rating on Livingston County's $78.2 million of outstanding general obligation debt.

Gov. Rick Snyder last week asked the Michigan Supreme Court to rule on a lawsuit that targets the state's controversial emergency-management law.

Moody's Investors Service last week affirmed Central College's low investment-grade underlying rating of Baa3 as it warned that a downgrade could loom due to challenges tied to thin liquidity coverage of its floating-rate debt.

Cook County's real estate valuation fell nearly 11%, or $66 billion, in 2009 from a year earlier, a new analysis says.

The state-appointed Budgeting for Results Commission, charged with making recommendations on how to better manage the Illinois budgeting process with an eye towards achieving better results, held its first meeting late last week.

CHICAGO — A committee of Indiana legislators will hold the first in a series of hearings today to review the state's infrastructure needs — estimated at $5.4 billion with an $800 million annual shortfall going forward — as proceeds from the long-term lease of the Indiana Toll Road are set to run out by 2015.

CHICAGO — Chicago Mayor Rahm Emanuel marked his first 100 days in office Monday by highlighting his progress in cutting city spending and implementing reforms aimed at improving government operations and public transparency.