Budgets

The study comes as the city faces a growing structural budget deficit and shrinking reserves that led to negative bond rating outlooks.

Gloria's pointed comments about the county's responsibility caused a stir in the days since he delivered the speech, which sets the table for budget talks in coming months.

Chicago plans to sell roughly $830 million of general obligation bonds to finance its 2024-28 capital improvement plan, according to the city's finance team.

New York Mayor Eric Adams, bolstered by lower-than-forecast spending on migrants, proposed a $114.5 billion budget for the fiscal year that begins July 1.

S&P Global Ratings downgraded Chicago's general obligation debt to BBB from BBB-plus, saying the 2025 budget fails to address a structural imbalance.

Brad Lander, the city comptroller, tallied the potential Trump administration threats to the city's federal funding, from infrastructure to hospitals.

The CFO's revenue estimate reveals a $169 million temporary boost and overall population growth while concerns arise over proposed cuts to the federal workforce.

Cuyahoga County and Cleveland will each pay $20 million to fund capital repairs at the venues that host Cleveland Cavaliers basketball and Guardians baseball.

Moody's Ratings said the 2025 budget that passed Chicago's City Council this month won't materially alter the credit profile of the city, which it rates Baa3.

The Chicago Board of Education unanimously approved the firing of Chicago Public Schools CEO Pedro Martinez late Friday during a heated special meeting.

Analysts warn the many one-time measures in the budget Mayor Brandon Johnson narrowly got through City Council will make the 2026 budget even harder.

A report the by the city administrative officer about the city's looming deficit underscores challenges facing Los Angeles Mayor Karen Bass.

S&P Global Ratings released a report this week warning that the credit trajectory of the Chicago Board of Education will hinge on several contested factors.

Chicago plans to bring to market $806 million of bonds on Thursday, a refinancing deal that will help close its fiscal 2024 budget gap.

Sen. Jodi Ernst, R-Iowa, who will chair a Department of Government Efficiency Senate caucus next year, wants to kill federal support for the California high-speed train.

S&P Global Ratings placed Chicago's general obligation bond rating on watch negative Tuesday, warning against heavy reliance on one-time budget solutions.

The Chicago City Council delivered a strong rebuke of Mayor Brandon Johnson's fiscal 2025 budget on Thursday, rejecting a $300 million property tax increase.

The board has put out fourteen questions on its fee setting process and will be accepting responses until January 31.

Chicago Mayor Brandon Johnson on Wednesday proposed a $17.3 billion fiscal year 2025 budget that calls for a $300 million property tax increase, but does not touch pension funding levels.

As federal funding dries up, cites are searching for new funding sources.