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Chicago budget primer

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* In case you just can’t get enough of the state carnage that you need local deets, too, click here.

posted by Rich Miller
Thursday, Oct 15, 15 @ 9:39 am

Comments

I hope tax payers didn’t pay for that oversimplified presentation

Comment by Aidep Thursday, Oct 15, 15 @ 10:20 am
@Aidep - Reminds me of another presentation I once saw on The Simpsons…

And in conclusion, mono means one and rail means rail. And that concludes our intensive three-week course.

Comment by nixit71 Thursday, Oct 15, 15 @ 10:44 am
Who’s the genius who formatted that presentation? Three charts where a useless title covers up numbers, one slide where unnecessarily large logos cover up information. Maybe they should start producing these presentations when the summer fellows are still around. Give them something better to do than get in all the cabinet members’ agency business.

Comment by Anderson Villy Thursday, Oct 15, 15 @ 10:56 am
Regarding pensions, the city claim it has not yet recovered market losses from the Great Recession.

That’s curious. DJIA was at 14,000 when it crashed in 2007. It surpassed 14000 again in 2012, and hasn’t been below that since.

Comment by Wordslinger Thursday, Oct 15, 15 @ 11:20 am
Can anyone out there name me a pension fund that reached 35% funding levels, and maintains the same level of benefits that were promised?

Comment by Blue dog dem Thursday, Oct 15, 15 @ 12:00 pm
Property, city, county and state taxes and fees all expected to increase in the course of one year. Cook County already coming back for round 2 after raising the sales tax.

Most places have the courtesy to let you catch your breath between tax hikes. Not here, it looks like.

Comment by Anonymous Thursday, Oct 15, 15 @ 12:59 pm
Check out the chart on page 4, showing 17 different revenue streams, of which the biggest, property tax, is only 26%, and the next biggest (sales) is only 14%. We keep hearing how Illinois’ revenue streams are not diversified enough - it looks like Chicago is highly diversified, yet still doesn’t have enough money.

Comment by Put the Fun in unfunded Thursday, Oct 15, 15 @ 1:10 pm
== Can anyone out there name me a pension fund that reached 35% funding levels, and maintains the same level of benefits that were promised? ==

Here’s 3; all numbers FY2014 ending:

GARS - 14.3%

JRS - 34.8%

SERS - 34.98%

Comment by RNUG Thursday, Oct 15, 15 @ 9:35 pm