Budgets

Chicago Public Schools went to market this week with nearly $1.1 billion of refunding bonds in the largest municipal transaction the district ever completed.

The city comptroller says Buffalo's finances are in dire shape, and is fighting in court not to issue debt authorized by the mayor and city council.

Mayor Brandon Johnson released to City Council a report from accounting firm Ernst & Young with recommendations for closing the city's structural budget gap.

The city council president is concerned about state bond commission approval.

The Cleveland City Council will decide whether to approve a deal struck by Mayor Justin Bibb with Haslam Sports Group, owners of the NFL's Cleveland Browns.

Brandon Johnson released his $16.6 billion 2026 budget last week. The budget calls for new revenue sources, but avoids property tax hikes.

Cities are responding to a state directive to remove symbols on crosswalks and other so-called distractions or risk losing state and federal funding.

The county agreed to pay an additional $828 million to victims of childhood sexual abuse who sued under a 2019 state law that raised the statute of limitations for such cases.

Metra announced fare hikes in its 2026 budget, part of a broader regional policy requiring the Chicago Transit Authority, Metra and Pace to raise fares.

The city council took action to keep the property tax rate unchanged, a move that could punch a $53 million hole in the fiscal 2026 budget and drain reserves.

Legislators and transit groups are pushing to get transit reform across the finish line this month, lawmakers and stakeholders said Friday.

The longer the shutdown of many federal government operations lasts, the worse it becomes for cities, states and other bond-issuing entities.

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.