With all the recent attacks on Mayor Emanuel's city budget, The Civic Federation released a report this week showing its support of the mayor's proposal. However, it still criticizes a few of Emanuel's money-saving tactics.
"The Civic Federation supports the proposed FY2012 City of Chicago budget of nearly $6.3 billion because it takes effective action to reduce the City’s structural deficit through significant expenditure reductions and targeted revenue increases. The proposed budget greatly reduces the City’s reliance on one-time revenue sources to close the $635.7 million budget gap. It prudently does not contain general tax increases, but rather focuses primarily on reducing the cost of the City’s operations and reforming the way in which government services are delivered."
The Civic Federation also said there's still much work to be done. The use of one-time revenue to close the budget gap doesn't solve long-term money issues like unfunded pension liabilities and bonds. In some cases, these one-time revenue sources ended up making the deficit problem worse. But, the 2012 budget is a step in the right direction.Check out the Federation's recommendations for a sustainable Chicago here.