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· Cook County faces cash crunch. Sources say gov’t may need to borrow to fund operations
· At least 12 tornadoes touched down in Illinois - eight of which caused damage - in a storm system that moved across most of the state Sunday night
· Illinois Review: Why Judy won’t win
· Venture capital investment growth in IL lagged Midwest. And, Illinois’ venture capital proposal shrinks to $3.2M
· Crane ‘the past’ McSweeney says
· Two high-ranking officials of Lake County government have lost their jobs over violations of county policies underpinned by a romantic relationship between the two, officials said Monday.
· Editorial: Budget shouldn’t ignore abused and neglected kids
· More problem with the wall. Maybe the guv should declare war.
· This really is absurd.
· No more cursive?
· The Chicago Defender got its first makeover in a century.
· Jesse White Tumblers hit by double tragedy
· It’s smooth commuting on Ryan
· Sneed: Media maven Bruce DuMont is looking for “dynamic, young media savvy entrepreneurs” to add to the board of the new Museum of Broadcast Communications. Is that you?
posted by Rich Miller
Tuesday, Apr 4, 06 @ 2:37 am
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Previous Post: Sympathies
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>Cook County faces cash crunch. Sources say gov’t may need to borrow to fund operations
Looks to me like someone isn’t paying enough in taxes.
Why don’t they just raise property taxes?
Comment by Leroy Tuesday, Apr 4, 06 @ 5:45 am
Wow, so now Illinois Review and their blind hate for Topinka is worthy of notice here, amazing.
Comment by Zach Tuesday, Apr 4, 06 @ 6:53 am
Cook County’s cash crunch is the result of mismanagement and waste, including Stroger’s huge do-nothing patronage army.
You’re joking about the property taxes, I hope.
As to money for foster kids, that’s fine, but how much private foster agency money goes into “administrative costs.” My impression is that many private agency directors and assistant directors, etc., make very substantial salaries, well into the six figures, with many other perks like free cars, luxury travel, and so forth. Perhaps if agency resources were “redirected” appropriately, there would be more money for the kids.
Comment by Cassandra Tuesday, Apr 4, 06 @ 8:18 am
A significant revenue problem for John H. Stroger Hospital has been the diminishing returns on the joint State/County agreement to garner federal dollars. The feds cracked down on “IGT” financing schemes several years ago, but the decline in federal dollars to Illinois and Cook County began in earnest last year. Last year, Cook lost $30 million and the state about $90 million. These are some pretty sizable holes to fill, but it’s hard to complain when the feds close off loopholes that they had been exploiting for years.
Comment by Ballparking the Budget Tuesday, Apr 4, 06 @ 9:56 am
As usual, we have folks who think “cash crunch” equals “deficit” equals “waste”. The cash crunch the County may experience is because the state has staggered the bulk of its payment transfers to the County until well after 7/1/06 (FY2007 for the state). Thus, even though the County’s budget is balanced, the timing of revenues vis-a-vis expenses is what leads to the cash crunch. Just doing what I can to counter Cassandra’s posting, which must be one of the side effects of boozing it up before 9 am.
Comment by AverageJoe Tuesday, Apr 4, 06 @ 12:34 pm
Average Joe,
You obviously didn’t read the article very well, as the cashflow issue is suspected to be a revenue shortfall problem. The article said that late year cuts may be possible.
Revenue shortfalls are different from cashflow timing. Revenue shortfalls equate to deficit.
Comment by Ballparking the Budget Tuesday, Apr 4, 06 @ 5:26 pm