City of Chicago, IL

Chicago is looking for a financial advisor to help it assess casino development proposals due next month.

Chicago's net pension liabilities increased by $1.1 billion in 2020 to almost $33 billion.

Like the city's pension funding revisions, the park district's plan ramps up to actuarial payments but it's alone in aiming for a 100% funding target.

The authority will scoop-and-toss some near-term debt to avoid a shortfall that would force Chicago to dig into its own pockets to cover a hotel tax shortfall.

The city and state want to use ARP funds to repay debt issued to manage the pandemic but Treasury's initial guidance would derail those plans.

Federal coronavirus relief helps the city deal with immediate budget problems, but pensions loom large over the city's post-pandemic fiscal landscape.

The change to monthly from quarterly revenue reports is a positive, the rating agency said, though the ordinance doesn't extend to expenses or cash flow.

Chicago is betting on an eventual $200 million annual jackpot from a future casino to pay down its public safety pension fund obligations

Chicago expects to receive $1.9 billion from the American Rescue Plan, which officials hope to use instead of the debt restructuring, a one-time tactic that is frowned upon by many in the industry.

Chicago's investors will be on the hunt for answers to how the city intends to use federal dollars, including whether it's going to scrap scoop-and-toss plans and meet rising pension contributions.

The cost of guaranteeing 3% cost-of-living adjustments to more retired Chicago firefighters is estimated at $18 million to $30 million annually.

Still, Moody's on Tuesday revised its outlook on the New York MTA's primary transportation revenue bond credit to stable from negative while affirming its A3 rating.

A bill backed by the Municipal Employees’ Annuity and Benefit Fund underscores the fiscal strains created by Chicago's pension underfunding.

From the use of taxables to forward deliveries, refunding deals drove an overall 15.8% hike in Midwest bond volume that exceeded the national average.

Gov. J.B. Pritzker is still mulling action on legislation Mayor Lori Lightfoot says will add to the city's considerable fiscal burdens.

Joliet will finance new infrastructure with a mix of revenue borrowing and state and federal loans in an agreement that will bring Chicago $30 million annually.

The Illinois legislature passed a pension benefit enhancement for a group of Chicago firefighters. If Gov. J.B. Pritzker signs it, local taxpayers will pay up.

ISFA board member Leslie Darling will take over the role of board chair.

Illinois lawmakers chose a new speaker this week after a lame-duck session that could add to Chicago's and the state's budget strains.

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.