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The Latest Breaking News from Laurence Msall

Civic Federation taps former city inspector general Joe Ferguson as president

Ferguson replaces Laurence Msall, the public finance expert whose death in February left a giant hole in the watchdog landscape.

Chicago Sun-Times

Committee approves labor contracts for thousands of city workers

The deal’s prevailing wage portion covers 7,000 members of 30 trade unions employed by 16 city departments. Those workers also will now accrue half a day of sick leave per month and be eligible for 12 weeks of paid parental leave.

Chicago Sun-Times

Reporter Yvette Shields, foremost expert in municipal finance who was ‘so brilliant but so kind,’ dies at 57

A veteran reporter for The Bond Buyer, Ms. Shields called herself a “municipal finance nerd.” She died suddenly this week, her family said.

Chicago Sun-Times

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Signs of illegal gun trafficking, mayoral hopefuls’ plans for CPS and more in your Chicago news roundup

Today’s update is a 5-minute read that will brief you on the day’s biggest stories.

Chicago Sun-Times

Laurence Msall, president of Civic Federation of Chicago, dies at 61

On Saturday, Mayor Lori Lightfoot called Msall “one of Chicago’s great civic leaders” and credited him with helping to improve the city’s finances with his advocacy.

Chicago Sun-Times

Illinois Gov. Pritzker ran a cautious reelection campaign. Will he play it safe in 2nd term?

Illinois Gov. J.B. Pritzker begins his second term Jan. 9 emboldened by a decisive reelection victory, a slew of wins in November by Democratic candidates he helped fund and a series of legislative successes that formed the foundation of his bid for another four years in Springfield.

Chicago Tribune

City Council approves Lightfoot’s $16.4 billion budget by 32-18 vote

The vote was closer than many expected and tighter than last year’s 35-15 cakewalk, which included a $76.5 million increase in the city’s property tax levy.

Chicago Sun-Times

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Civic Federation demands more transparency in Chicago Police Department spending

Mayor Lori Lightfoot says there’s no lack of transparency in her budget, and police spending isn’t the only measure of public safety.

Chicago Sun-Times

Plenty to like in Lightfoot’s budget, but specter of underfunded pensions isn’t going away

Skeptics say they wouldn’t be surprised to see a vote on the property tax increase resurrected after the Nov. 8 election.

Chicago Sun-Times

Lightfoot’s extra pension payments don’t let Springfield off the hook, Civic Federation says

State laws created the police, fire, laborers and municipal employees pension funds, and state lawmakers have a responsibility to consolidate, reform and fund local pension plans, says Civic Federation President Laurence Msall.

Chicago Sun-Times

Annual city audit shows Chicago on the road to post-pandemic recovery

The Certified Annual Financial Report for 2021 shows Chicago closed the books on 2021 with a total fund balance of $679.1 million.

Chicago Sun-Times

From turkeys and trash cans to gas cards and guaranteed income? Freebie frenzy dominates election season

Decades ago, Chicago politicians curried favor with voters by distributing Thanksgiving turkeys and Christmas hams. Garbage cans with an office-holder’s name on it were also a frequent freebie. But, the avalanche of federal stimulus funds has allowed Gov. J.B. Pritzker, Cook County Board President…

Chicago Sun-Times

By flouting ethics rules, tax commissioner sends wrong message to taxpayers

Board of Review Commissioner Tammy Wendt should abide by the ruling from the Cook County Board of Ethics.

Chicago Sun-Times

Illinois undercounted in 2020 census, actually grew to 13 million — largest population ever

A U.S. Census Bureau report released Thursday shows rather than losing population, Illinois gained more than 250,000 residents between 2010 and 2020. That’s roughly the equivalent of not counting anyone in Aurora — Illinois’ second largest city — and the entire city of Decatur.

Chicago Sun-Times

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Chicago Sun-Times

State workers get two more years to cash out pension benefits under extension designed to cut pension liability

The optional buyouts — designed to save taxpayers money in the long haul — would be paid for by an additional $1 billion in general obligation bonds.

Chicago Sun-Times

Kaegi botched COVID tax relief

The Cook County assessor cut values based on jobs he thought neighborhoods would lose due to the pandemic. It was a wild miscalculation that worked out well for some, including Mayor Lori Lightfoot, not so well for residents of a poor South Side neighborhood.

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