Budgets

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.

The spending plan includes revenue-raising measures involving the bond-issuing combined utility system that have sparked concerns by the city's controller.

Local governments will face "greater credit pressure" if voters largely eliminate property taxes on more than half of homes in the state, S&P analysts said.

A federal judge ruled Cook County, Illinois, is liable for contitutional violations of homeowners' rights by stripping them of equity in delinquent tax sales.

The mayor's plan to balance the fiscal 2027 budget relies heavily on proposed revenue-raising moves involving the combined utility system enterprise fund.

Months after the state cracked down on cities' tardy annual financial audits, adherence to a statutory filing deadline is improving with fiscal 2025 reports.

A New Jersey suburb will issue short-term debt as its officials try to recover $4.8 million stolen after a cyberattacker accessed a school district email.

Debt requests are escalating as the Lone Star State accommodates a growing population and addresses aging infrastructure.

The New Orleans Revenue Estimating Conference approved the new forecast Wednesday.

The city council amended an ordinance dealing with police interaction with federal immigration enforcement to prevent a $114 million funding loss.

Wisconsin and Ohio lawmakers are showing signs of diverging on data centers as grassroots opposition grows in both states.