Midwest

CHICAGO — Illinois Gov. Pat Quinn Thursday signed a fiscal 2011 budget that deals with the state’s $12 billion deficit through $1.4 billion in cuts, borrowing and other one-time maneuvers and leaves $6 billion of bills unpaid.

CHICAGO – Chicago Public Schools treasurer David Bryant is among several members of the system’s Treasury Department who were claimed by layoffs announced this week to help trim labor costs.

CHICAGO — Detroit Public Schools is facing a $363 million structural deficit — with officials warning it could get worse — as the district begins a new fiscal year today.

CHICAGO — With Illinois Gov. Pat Quinn poised to sign the fiscal 2011 budget today amid a drumbeat of negative financial news, experts recently offered suggestions for tackling the state’s budget crisis that range from expanding the sales tax base to creating a ­fiscal watchdog commission.

CHICAGO — Michigan lawmakers will fail to meet their self-imposed deadline of July 1 to complete a fiscal 2011 budget.

CHICAGO — As nonprofit hospitals in the Twin Cities brace for a threatened nurses’ strike, Moody’s Investors Service warned yesterday that a prolonged walkout could pressure some hospital ratings if already-thin operating margins are hurt by increased costs for temporary nurses and a drop in patient revenue.

CHICAGO — The Ohio Water Development Authority today will begin pricing $27.3 million of water development revenue bonds to provide loans for weakly rated municipalities across the state.

CHICAGO — Local units of government in Michigan grappling with falling revenue from state aid and local property tax collections will soon have a place to turn for help in undertaking cost-saving consolidation efforts.

CHICAGO — The St. Paul Port Authority will start anew in its efforts to resolve its faltering 876 Bond Fund in a way that benefits all bondholders. This follows a court decision earlier this month that formally killed its plan to liquidate the fund and distribute proceeds to investors holding the remaining $51 million of debt.

CHICAGO — Illinois Gov. Pat Quinn late last week signed controversial legislation that creates a pilot sales tax and revenue bond program to aid a proposed $378 million retail and entertainment complex in the struggling downstate city of Marion.