Budgets

The county will tap reserves and eliminate vacant positions to meet budget challenges driven by billions of dollars of child sexual abuse settlements.

The Baa3 rated government will now have more trouble supporting the struggling Guam Memorial Hospital, Moody's Ratings said.

The Trump administration is ending Chicago Public Schools' access to $8 million in fiscal year 2026 grant funding, the Department of Education said.

It affirmed the California city's Aaa issuer rating, but cited the drag on revenues from tepid tourism numbers and liabilities from child sexual abuse claims.

The city faces hundreds of child sex abuse claims stemming from a former after-school program volunteer. A recent state law opened the window for old claims.

Backers of a voter-approved public safety funding proposition that led to a negative rating outlook by Moody's said the budget fails to comply with the measure.

Chicago Mayor Brandon Johnson's Financial Future Task Force released an interim report this week on Chicago's structurally imbalanced budget.

The commission also approved an audit for the financially troubled Winston-Salem/Forsyth County School District.

The Civic Federation and the Federal Reserve Bank of Chicago co-hosted an event on Wednesday titled "Taxing Times, Smarter Strategies."

Moody's revised Chicago's outlook to stable from positive and affirmed the city's Baa3 issuer and general obligation unlimited tax ratings.