Budgets

The report takes aim at public school budget balances and charter school funding, and suggests bond issuance to fund teacher compensation endowments.

Moody's Ratings and Fitch Ratings both lifted their rating outlooks to positive on the San Francisco Unified School District.

NYC's final budget did enough for KBRA to bring its rating outlook on New York City back up to stable.

Chicago Mayor Brandon Johnson appointed Ashlee Gabrysch, formerly senior director at Fitch Ratings, to serve as chief financial officer.

The city took the measure to partially address a shortage in its general fund.

The Texas city's general obligation rating was lifted to Aa2 with a stable outlook from Aa3 based on "meaningful" moves taken in its fiscal 2027 budget.

Indiana lawmakers are considering two more far-reaching property tax reforms before Senate Enrolled Act 1 has even been fully phased in.

Budget Director Annette Guzman left her role Monday, Chicago Mayor Brandon Johnson said, in the latest high-profile finance departure from his administration.

The Chicago Board of Education passed an amended fiscal year 2027 budget Thursday that assumes $150 million in additional funding from the state.

Philadelphia has spent the last decade building up its reserves and pension funds. A state oversight board says it can keep doing so for another five years.

Acting Chief Financial Officer Steven Mahr and Deputy CFO Noor Shaikh left Chicago Mayor Brandon Johnson's administration as internal battles became public.

Jefferson County School District R-1's lawsuit comes after the U.S. Department of Education threatened to withhold federal funding over transgender policies.

The budget timeline emerged as a flashpoint when the Chicago Board of Education held hearings last week in the run-up to a consequential vote Thursday.

A battle over implementation of Chicago's budget became public Thursday after Mayor Brandon Johnson's team held a midyear hearing.

The district is planning to bring $1.17 billion of revenue bonds to the market next week.

Many local governments face budget issues, including two of the largest cities by population, New York City and Chicago, both of which saw negative rating action during the first half of the year, per Breckinridge strategists.

The combined utility system's commercial paper program capacity was increased to $1.5 billion and an up to $345 million cash flow borrowing was set for August.

The city council in August will consider placing $500 million of pension obligation bonds on the Nov. 3 ballot for its police and fire retirement system.

The outlook revision to stable from negative follows the city's adoption of a fiscal 2027 budget with structural changes that greatly reduced a shortfall.

City officials attribute the structural deficit to inflation-driven spending increases combined with revenues that have not kept pace.