After Detroit: How Will Illinois and Its Communities Respond?
The Federal Reserve Bank of Chicago and the Board of Directors of the Civic Federation held a conference on how municipalities in Illinois can avoid or resolve fiscal stress. The conference will feature a luncheon keynote address by City of Detroit Chief Financial Officer John Hill.
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Speakers will discuss recent budget, revenue and pension trends for the City of Chicago with a focus on the city’s financial future. In addition to presenting the perspective of Chicago’s chief financial officer and the rating agencies, the panel will discuss the fate of pension reform initiatives around the country and how they might inform any legislation to change city pension benefits.
Speakers will discuss the different structures and policies states have used to assist local governments in crisis or avoid fiscal decline in the first place. Both the national perspective and a specific proposal for an Illinois authority to assist local governments will be presented along with trends in the structure and amount of local government revenue.