Truth In Accounting
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Chicago gets ‘F’ grade on finances, with liabilities equaling $41,000 per taxpayer
Among the 75 most populous cities in the U.S., Chicago ranks 74th for the state of its finances, chalking up $41,000 in liabilities per taxpayer, according to a Truth in Accounting (TIA) analysis of municipal data released this month.
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From Prairie State Wire
Illinois receives failing grade for budgeting from Truth in Accounting
Illinois received an 'F' from a nonpartisan accounting organization that measures state transparency and reliability in accounting practices
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Truth in Accounting report paints grim picture of Chicago's finances, increasing taxpayers' burden
The debt load of every taxpayer in Chicago continues to swell as lawmakers across the city have shown no progress in trimming the massive deficits that have led a fiscal watchdog group to give the city a failing grade in its latest annual financial report.
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Truth in Accounting: Chicago tax burden up $2,100
The City of Chicago is more than $34 billion in debt, with each taxpayer theoretically on the hook for more than $38,000, according to a Truth in Accounting (TIA) annual report on the city's fiscal crisis.
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Illinois six months overdue filing its 2018 Comprehensive Annual Financial Report
Bill Bergman, director of research for government watchdog organization Truth In Accounting, is at a loss as to why the release of Illinois' 2018 Comprehensive Annual Financial Report (CAFR) is more than six months overdue.
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Chicago, underlying agencies top per-taxpayer debt ranking
When including underlying public agencies such as school districts and transit authorities, Chicago bears the highest per-taxpayer debt burden of any of the 10 most populous cities in the U.S., according to research released today by Truth in Accounting (TIA).
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Chicago ranks No. 2 among largest U.S. cities that lack funds to pay debts
Chicago ranks second worst among the 75 largest cities in the United States for the handling of its finances, according to a Truth in Accounting (TIA) analysis of municipal data released this month.
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From Prairie State Wire
Illinois gets below-average marks on financial transparency
Illinois received a score of 72 on making key financial information accessible and understandable to the public, according to a new report from Truth in Accounting (TIA), a Chicago-based policy institute.
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Truth in Accounting research director warns Chicago is on path to bankruptcy
Bill Bergman, director of research for Truth in Accounting, warns that Chicago’s revenues continue to fall short of the city’s expenses and the annual analysis does not accurately portray the issues.
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City of Chicago keeps missing state-mandated deadline for publishing Comprehensive Annual Financial Report
The City of Chicago has for years missed a state-mandated deadline to publish its annual Comprehensive Annual Financial Report (CAFR) because no one calls them on it, a researcher for a fiscal advocacy group said during a recent interview.
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Chicago's Morning Answer: Sheila Weinberg shares new data on the financial state of cities in the area
Sheila Weinberg shares new data on the financial state of cities in the area
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Watchdog to Chicago: Raise taxes, shrink government in debt crisis
According to a report by the nonprofit Truth in Accounting (TIA) watchdog group, 41 states are facing mountains of debt, and Illinois is one of the worst offenders.
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Chicago police pension bailout may be derailed by out-migration, financial expert says
Chicago’s police pension bailout in the General Assembly's budget deal this summer could be derailed if the state continues to empty out as Illinoisans flee for better tax climates and opportunities elsewhere, a researcher for a fiscal advocacy group said.
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D’Amico challenger: Illinois' property tax burden affects all residents – Republicans and Democrats
Amanda Biela is running against Rep. John D’Amico (D-Chicago) in Illinois House District 15, and one of the things that she has heard from constituents is that property taxes are a problem.
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Watchdog group gives Chicago an F grade for finances
Chicago's financial woes are far from improving, according to a watchdog group's report on the city's debt.
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Madigan's new 'nice guy' image doesn't wash, GOP says
House Speaker Michael Madigan’s "nasty-to-nice makeover" isn't fooling anyone, the Illinois Republican Party contends in a recent press release on Madgan's new Facebook presence.
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Illinoisans seen slipping into state-created financial sinkhole
Illinoisans are sinking under mounting state debt, and the future doesn't hold any hope for a lifeline, the founder of the non-profit Truth in Accounting said on "Chicago's Morning Answer" radio show recently.
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Chicago debt goes on wild roller coaster ride, group contends
Unless Chicago has crafted some kind of magic financial wand, its debt numbers are doing some weird things in the last few years, a government oversight group suggests.
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Chicago pension fund on last legs, accounting group warns
The actuarial valuation of Chicago’s Municipal Employees’ Annuity and Benefit Fund (MEABF) paints a bleak future for the fund, even taking into consideration a proposed water and sewer tax from Mayor Rahm Emanuel, according to a recent report from Truth in Accounting.
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Missing Chicago financial report looks like a job for ... a Blues Brother?
Bill Bergman wants to come to the rescue in Chicago.