Finance
Statement from President Preckwinkle on Rating Agencies’ Response to Cook County’s 2012 Sales Tax Revenue Bonds
By Communications Staff at July 27, 2012 | 9:48 am | 0 Comment
“The Cook County Board approved an ordinance on July 24, 2012 to introduce a new credit structure and capital funding source for County highway projects. The Bonds will be secured by sales tax revenues, as the County and its finance team recognized the value investors would place on such a broad-based tax revenue pledge. The new bond offering is estimated to yield more...
City, County Announce $33 Million In Savings As First Year Of Collaboration Comes To A Close
By Sebastian James at July 2, 2012 | 10:47 am | 0 Comment
Cook County Board President Toni Preckwinkle and Chicago Mayor Rahm Emanuel today announced that in the first year of the City-County collaboration, $33.4 million has been saved, and that over 85 percent of the savings will recur on an annual basis. “We are energized by the numbers we’ve achieved. Today’s results show that the collaboration is on target to more...
Chief of Staff Kurt Summers to Appear on Bloomberg’s State & Municipal Finance Panel
By Sebastian James at June 6, 2012 | 9:15 pm | 4 Comments
Chief of Staff Kurt Summers will appear on a panel of municipal financial experts and municipal managers on June 7th at 10:45 am CST. Sponsored by Bloomberg Financial, the event is titled "Bloomberg State & Municipal Finance". Part of a day-long event taking place in Chicago's Financial District, Summers' segment will be live-Tweeted at more...
Cook County Releases Annual Financial Report
By Sebastian James at June 5, 2012 | 2:01 pm | 5 Comments
For the first time since 2002, Cook County has issued its Comprehensive Annual Financial Report (CAFR) within six months of the end of the fiscal year, President Preckwinkle announced today. The CAFR is an important financial document that includes audited financial statements and other critical details designed to give the public access to the county’s financial more...
Statement from President Preckwinkle on the 2011 Cook County Pension Fund Actuary Report
By Sebastian James at May 3, 2012 | 3:33 pm | 0 Comment
“The Cook County Pension fund released figures today showing that the funded ratios for Cook County and the Forest Preserve District as of December 31, 2011 are 57.5% and 61.6%, respectively. In 2010, the funding levels were 60.7% and 65.2%, respectively. “The downward trend of our funding ratios resulting from a recurring structural deficit is a reminder of the more...
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