Significant increases in long-term liabilities over time can be a sign of fiscal stress. Between FY2018 and FY2022, the last year for which audited financial information is available, the City of Chicago’s total long-term liabilities increased by 18.5%
…and when interest rates come down, those pension liabilities will be even higher.
Leaving Soon, just not soon enough
2 years ago
The Number is so high it will never be paid. Face the facts the Chitty will go bankrupt one day.
Old Joe
2 years ago
Nothing to worry about. The new casino will bring home any shortfall.
Old Spartan
2 years ago
I thought this was the budget that the Civic Committee and several local news outlets thought was a great step forward for the new mayor on fiscal matters. I guess they don’t know that long term liabilities are an important part of a balance sheet.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
…and when interest rates come down, those pension liabilities will be even higher.
The Number is so high it will never be paid. Face the facts the Chitty will go bankrupt one day.
Nothing to worry about. The new casino will bring home any shortfall.
I thought this was the budget that the Civic Committee and several local news outlets thought was a great step forward for the new mayor on fiscal matters. I guess they don’t know that long term liabilities are an important part of a balance sheet.