Day: June 29, 2021

Does Cook County have a ‘surplus?’ – Truth in Accounting

“In accounting, a surplus means the excess of assets (money had) over liabilities (money owed) accumulated. But in government budgeting it is defined as an excess of receipts over disbursements…The county is projecting its expenditures will be less than its receipts, but if history is any indicator this does not include the correct retirement payments for county workers.”

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Illinois secretary of state’s office settles lawsuit that alleged automatic voter registration rollout was botched – Chicago Tribune*

The settlement will address several problems identified in the system, including the lack of adequate access for people with limited English skills and the failure to automatically update the rolls when voters move. It will also stop registration information for people who aren’t eligible to vote because of age or citizenship status from being automatically sent to the elections board.
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Moody’s upgrades Illinois’ credit rating – Capitol News IL

Moody’s Investors Services raised the state’s rating one notch, citing “material improvement in the state’s finances.” Although the upgrade still leaves Illinois bonds rated just two notches above so-called “junk” status, Gov. JB Pritzker said it marked a turning point for the state, and he credited the General Assembly and members of his own administration for bringing greater fiscal discipline to the state’s budget.

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Monthly Case Shiller Index: Chicago Area 7 Year Record Home Price Growth Doesn’t Cut It – ChicagoNow

S&P Dow Jones released the April CoreLogic Case-Shiller home price indices this morning showing that Chicago area single family home prices continue to soar. The 9.9% gain from last year is the highest appreciation in exactly 7 years and the 102nd consecutive month of annual gains.

Nationally, home prices increased at the fastest rate in the indexes record. The Chicago area is still in last place among the 20 metro areas tracked – the only metro stuck in the single digits.

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Illinois’ New Criminal Justice Law Begins to Take Effect – WTTW (Chicago)

“Most folks, when they think about the SAFE-T Act, all they think about is the end of cash bail and that is just one segment of the overall plan,” said state Sen. Elgie Sims. Come July 1, police will have the state-mandated duty to render aid and life-saving assistance like CPR if someone is injured, and to intervene if another officer is using unauthorized force or a force exceeding what’s permissible, among other changes.

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