Joe Ferguson spent 12 years as the corruption-busting watchdog of Chicago government — proving to be a thorn in the side of both the Emanuel and Lightfoot administrations.

Ratings agency S&P on Thursday moved Illinois’ bond rating up a notch, from BBB+ to A- on general obligation bonds. It’s the agency’s third upgrade since the summer of 2021.

Mayor Lori Lightfoot’s proposal to spend $16.7 billion in 2022 faces two critical votes in the coming days, as members of the City Council wrangle behind the scenes on how to spend nearly $2 billion in federal aid while closing massive shortfalls caused by the COVID-19 pandemic.

Chicago is facing an uncertain financial future as Mayor Lori Lightfoot prepares to detail how she plans to close a projected budget deficit of $733 million in 2022, budget experts told “Chicago Tonight” on Thursday.

The school district on Tuesday released its budget proposal for the 2022 fiscal year, which includes $672 million for priority facility investments throughout the city and more than $1 billion in federal funding for student supports.

Illinois’ once bleak financial picture has brightened considerably during the past three months, state finance officials announced Thursday. Gov. J.B. Pritzker will use the additional revenue to boost spending on education by an additional $350 million. 

The coronavirus pandemic has wreaked havoc on people’s lives, and also on government budgets. On Wednesday, Gov. J.B. Pritzker will propose his ideas for getting Illinois through it. Here’s a preview of that address.

A trio of budget ordinances backed by progressive aldermen failed to advance Monday, as a fiscal watchdog warned that Mayor Lori Lightfoot’s plan to borrow $15 million to avoid layoffs and refinance an additional $1.7 billion was potentially perilous.

How to educate students during a pandemic is far from the only issue elected officials — and Illinois residents — have to grapple with. And it seems unlikely the federal government will agree to another stimulus package before the election.

Mayor Lori Lightfoot on Wednesday will deliver her first budget address, with an expected plan to close an $838 million budget deficit. She’s already accounted for $200 million of that with a proposal to refinance $1.3 billion in city borrowing.

It’s her first week in office, but Mayor Lori Lightfoot doesn’t have time to waste when it comes to city finances. How can Chicago address its fiscal troubles?

For the first time since 2015 Illinois may actually have a budget in place before the start of the new fiscal year. And the governor says he will sign it.

Laurence Msall, president of the Civic Federation, shares his thoughts on Gov. Bruce Rauner’s $37.6 billion spending plan.

Illinois Comptroller Leslie Munger tightens state lawmakers' belts, hoping to force a budget deal. Will that work to break the deadlock?

A comprehensive list of nearly all of the planned borrowing to be done in 2016 was disclosed today by Chief Financial Officer Carole Brown.

A Cook County judge ruled Friday that Chicago's plan to change city workers’ pensions was unconstitutional. The city vows to appeal the decision. We look at the ruling, whether any pension reform can be constitutional, what the consequences are to the city's plummeting bond rating, and whether the city will have to raise taxes to cover the pension liability.