Board of Directors Steven H. Abbey The Civic Federation David A. Abel Catherine M. Adduci 177 North State Street, Suite 400, , IL 60601 ▪ 312.201.9066 fax 312.201.9041 ▪ civicfed.org A.G. Anglum* Adrienne Archia* Murray E. Ascher* Karen Atwood Officers Alicia Berg November 19, 2013 Brian A. Bernardoni ThomasMark R. LivingstonDavis Jeffrey Bethke Chairman Roger H. Bickel Scott A. Bremer Civic Federation Position Statement on Proposed MarkAllan DavisAmbrose Whitney Carlisle Vice Chairman Victor Chang City Council Office of Financial Analysis Timothy L. Christen Susan McKeeverL. McKeever Robert J. Christie Vice Chairman

Richard A. Ciccarone* Eileen Mitchell Jerry Cizek III☼ The Civic Federation strongly supports the proposal to create an Office of Nancy J. Clawson Vice Chairman

Peter E. Coburn Financial Analysis for the . Joseph B. Starshak Lew Collens Steven Collens Treasurer

Elizabeth G. Coolidge* LaurenceLaurence J. Msall Ronald S. Cope Mayor ’s proposed FY2014 budget includes funding for an Office President David P. Crosson

Omar Daghestani of Financial Analysis to help vet financial legislation before it is considered by *SarahExecutive J. Wetmore Committee Kevork M. Derderian ☼ Vice☼ Past President Chairmen’s Council

Julian D’Esposito the Chicago City Council. The ordinance that would provide for the creation of Jon B. DeVries *Executive Committee Michelle Dukler such an office has passed the Committee on Budget and Government Operations ☼ Past Chairmen’s Council Martin L. Eisenberg Jeff Emme and goes next to the full Council for consideration. We urge the City Council to Brian D. Fabes Stephen B. Friedman adopt this common-sense proposal that would give aldermen access to the independent Charles R. Gardner* Carol Garnant ☼ information and analysis they need to be effective stewards of taxpayer dollars. John P. Garvey Anthony G. Gedeller Ronald J. Gidwitz Peter G. Glick The proposal would dedicate approximately $500,000 in FY2014 to the creation of a City Judith A. Gold* Andrew F. Gottschalk* Council Office of Financial Analysis. The Office would be authorized to analyze the Paul D. Green Patrick J. Hagan* Mayor’s proposed annual budget, the City’s Annual Financial Analysis, ratings agency Philip Hale M. Hill Hammock actions, proposed public-private partnerships and asset leases and the City’s annual audit. Albert C. Hanna David Hickerson Other analyses could be performed at the request of the Chair of the Committee on Patricia M. Holden Gregory C. Hosbein Budget and Government Operations. The Office would also produce a quarterly activity Margaret Houlihan Smith Lori H. Igleski report and an annual budget options report detailing potential cost savings and Bennett J. Johnson III Blake R. Johnson efficiencies. James H. Kane Karen Kane William Ketchum Jim Kranjc* The Civic Federation has long recommended that an independent budget office be created Stephen Legatzke Kandace C. Lenti for the Chicago City Council – similar to independent agencies already established in the Thomas E. Livingston☼ Michael A. Lovett cities of New York, San Diego and Pittsburgh. Chicago has one of the largest councils in William D. Mack* Christine Maki the United States and yet it lacks the ability to independently evaluate the City’s Glenn Mazade Thomas J. McNulty☼ budgetary and long-term fiscal conditions. Aldermen are heavily dependent on the Mayor Timothy E. Moran Monica M. Mueller and the Mayor’s staff for information on the City’s budget. Without independent Michael E. Murphy ☼ Bert Nuehring* guidance, it has proven difficult for the City Council to fulfill its essential financial Michael F. O’Brien Denise M. Obrochta oversight role. Holly O'Connor Gregory O’Leary Sarah Pang Robert Pasin Chicago City Council members will continue to have great need for independent financial Donovan W. Pepper Moira K. Pollard analysis to evaluate the annual budget, future proposals for public-private partnerships Tony Reinhart Aaron Rudberg and projects funded by the Chicago Infrastructure Trust. The Civic Federation commends Scott Saef ☼ Kevin Scanlan Mayor Emanuel for supporting the initiative put forward by Ald. Ameya Pawar, Ald. Pat Patrick Sheahan Stephen R. Smith Dowell and Ald. Michele Smith. We applaud the aldermen who are reaching out for the James E. Spiotto* Keith Staats resources they need to govern effectively. This common-sense and long-overdue proposal Barbara L. Stewart ☼ Eugene S. Sunshine for an independent budget office deserves full support from the Chicago City Council. Kent A. Swanson* Courtney A. Thompson* Jack Tierney Christopher Tobin The Civic Federation is an independent, non-partisan government research organization that promotes efficient Allen Truesdell delivery of public services and sustainable tax policies in the Chicago region and State of . For more Thomas C. Vanden Berk Robert S. Vihon* information, please visit the Federation’s website at www.civicfed.org. Daniel Wagner Sue E. Wallace* John F. Ward, Jr ☼ John L. Ward Jeffrey D. Warner Andrew L. Weil Paul Wierbicki Jerrold Wolf Corinne Wood