HOW MUCH ARE TAXPAYERS PAYING FOR EMPTY SPRINGFIELD HOMES? SPRINGFIELD - Although the Illinois constitution requires all statewide elected officials to have a residence in Springfield - none of the current constitutional officers have made the state capital their primary home. Despite this, Illinois taxpayers provide each of the states elected officials with residences in the capital city. The cost for the taxpayers to do this varies. Gov. Pat Quinn is provided with the Executive Mansion. The 157-year-old manor is a historical site that has a 16-room apartment for the governor to use. The trend speaks to the diminishing political importance of Springfield said Jim Nowlan, a former state lawmaker and researcher at the University of Illinois. Its almost like Chicago is becoming the shadow capital of Illinois, he said. The constitutional officers work out of the Thompson Center in Chicago. And most of the cabinet officers work out of Chicago, too. Springfield is almost become a hinterland outpost. Report shines light on problems with public education spending HINSDALE - A new report on school spending in Illinois reveals pension and salary-heavy budgets for many Illinois districts. The report, released by OpentheBooks, a group that advocates for government transparency, highlights the money 928 school districts across Illinois spend on salaries, vendors, and pensions on a yearly basis. It found that, among other things, the number of pension benefits totaling $100,000 or more a year increased by nearly 25% from 2013 to 2014. More than 5,900 retired educators receive annual pensions worth six figures. According to the groups founder, Adam Andrzejewski, these numbers indicate a systematic problem with public education spending. MOODYS REVEALS DEEP TROUBLE WITH ILS PENSION SYSTEM SPRINGFIELD - The state of Illinois finds itself worst in the nation when it comes to pension liability, says a new report from Moodys. Moodys Investors Service, one of the nations major credit-rating agencies, conducted a study on each states pension liability as a percentage of state revenue and found that Illinois has the highest in the country by a wide margin. The Prairie States three-year average pension liability over revenue is 258 percent, 58 points higher than second place Connecticut at 200 percent. While looking at the percentages for years 2010-2012, Moodys found that the states rate was 318 percent in 2012 alone. Carol Portman is the president of the Taxpayers Federation of Illinois. She said the pension shortfall is a real crisis, and one that isnt going away.
Posted on: Sat, 27 Sep 2014 02:00:18 +0000