By IPI intern Perry Zhao, includes “Chicago has, again, earned a failing grade on its overall financial health – which worsened during the pandemic despite federal aid, according to Truth in Accounting’s July 2021 analysis. … The financial watchdog’s report found the city’s funds from grants and contributions more than doubled to $1.17 billion because of federal aid during the 2020 fiscal year, up from $497 million. But pension and retiree health care obligations swallowed up the gains.”
Read the full article on: Illinois Policy Institute