WBEZ | audit http://www.wbez.org/tags/audit Latest from WBEZ Chicago Public Radio en Emanuel goes after city debtors http://www.wbez.org/story/emanuel-goes-after-city-debtors-92836 <img typeof="foaf:Image" src="http://llnw.wbez.org/story/photo/2011-October/2011-10-05/AP081118062678 J. Scott Applewhite.jpg" alt="" /><p><p>Chicago Mayor Rahm Emanuel on Wednesday announced another crackdown on people who owe the city money.</p><p>If you have unpaid parking tickets, or bank property fees and fines you haven't taken care of yet, Mayor Emanuel said it's time to pay up. His administration said it's taking new steps to collect on some of the city's debt.</p><p>Among them are improved tax audit collections, stricter enforcement on business permits and licenses, and even lawsuits filed against the worst offenders. One Chicagoan apparently owes $87,000 in parking tickets.</p><p>Emanuel said this whip-cracking will bring an additional $33 million to the city in 2012. He's going to need it as he prepares to outline his budget next week. Chicago's projected deficit for next year tops $635 million.</p><p>On Tuesday Emanuel announced a crackdown on city employees who owe money. He said those who don't comply immediately will face disciplinary action.</p></p> Wed, 05 Oct 2011 11:27:00 -0500 http://www.wbez.org/story/emanuel-goes-after-city-debtors-92836 Pre-paid college tuition program under-performing and under investigation http://www.wbez.org/story/pre-paid-college-tuition-program-under-performing-and-under-investigation-87603 <img typeof="foaf:Image" src="http://llnw.wbez.org/archives/images/cityroom/cityroom_20100923_newsintern_1611928_U of_large.png" alt="" /><p><p>A program that aims to offset college education costs is under-performing and under investigation. The Illinois Student Assistance Commission (ISAC) sells contracts to parents so they can lock in today's tuition prices at state schools for their kids in the future.&nbsp; But the program might not offer the security it promises.<br> <br> The commission hasn't been able to keep up with big bumps up in college tuition prices. So in trying to raise more money, it moved nearly half its assets from traditional stocks and bonds to real estate, private equity and hedge funds.</p><p>State Rep. Jim Durkin (R-Countryside) wants the state auditor to look into what he thinks is risky investment of public funds.</p><p>He said, "There is a bit of a confidence problem with the integrity of the fund. And I think I can speak collectively that we do not want this to fail."</p><p>About 70,000 Illinois students have contracts to help them pay for college. If the fund runs out of cash, the losses aren't backed by the government.</p><p>John Samuels is communications officer for ISAC. He said the state doesn't guarantee to make-up for any losses, but it does have a "moral obligation" to support the plan.</p><p>On top of the investment controversy, the commission has sold only about a third of the tuition contracts it had hoped to this year.<br> &nbsp;</p></p> Wed, 08 Jun 2011 20:57:00 -0500 http://www.wbez.org/story/pre-paid-college-tuition-program-under-performing-and-under-investigation-87603