fy2023 updates

Pensions.qmd

@@ -15,6 +15,7 @@ library(tidyverse)
 library(data.table)
 library(janitor)
 
+theme_set(theme_classic())
 
 knitr::opts_chunk$set(echo = TRUE, warning = FALSE, message = FALSE)
 
@@ -37,8 +38,8 @@ Most of these funds were found by either using CTRL-F with pension related words
 
 ```{r}
 
-exp_temp <- read_csv("exp_temp.csv") %>% filter(agency != "799")
-rev_temp <- read_csv("rev_temp.csv") %>% filter(agency!= "799")
+exp_temp <- read_csv("./data/exp_temp.csv") %>% filter(agency != "799")
+rev_temp <- read_csv("./data/rev_temp.csv") %>% filter(agency!= "799")
 
 
 # check what is being included in pensions
@@ -129,7 +130,7 @@ rev_temp %>%
 **Additional pension info:**\
 For the \$10 billion in 2004, they borrowed money and invested it in pension portfolio and hoped that the returns would be greater than the interest on the debt. If returns\>interest, then they increased the pension funds and it was a good idea. Otherwise a short term band-aid causes even more problems later. This added a significant amount to the unfunded pension liabilities. In 2010 and 2011, POBs served as a type of general borrowing for the state by borrowing against what was owed to the pension systems and using that revenue that should have funded pensions to instead subsidize the cost of providing core services. Illinois borrowed money (POBs) and used it to pay for government services. A temporary way to fill a budget gap for that 2010 that then costs more in the long run due to increased unfunded liabilities and interest on the borrowed money.[^pensions-1]
 
-[^pensions-1]: Brown, Jeffrey R. & Richard F. Dye. 2015. \"Illinois Pensions in a Fiscal Context: A (Basket) Case Study\" NBER Working Paper Series. <http://www.nber.org/papers/w21293>.
+[^pensions-1]: Brown, Jeffrey R. & Richard F. Dye. 2015. "Illinois Pensions in a Fiscal Context: A (Basket) Case Study" NBER Working Paper Series. <http://www.nber.org/papers/w21293>.
 
 In 2019 lawmakers offered a pension buyout plan where members could opt-out of their future benefits for a lump sum. However, few people participated in the buyout plan and very little savings have occurred so far. The buyout plan has been extended to 2026 in hopes that more people participate in it. Description of Pension Obligation Acceleration Bond at this [link](https://www.ilga.gov/legislation/ilcs/documents/003003300K7.7.htm). Proceeds of bonds go into pension obligation acceleration fund (which are not included as a revenue source) and the fund is only used to make accelerated pension benefit payments. The pension stabilization fund (0319) is money put into the pension funds to help pay for unfunded liabilities from past poor budgeting decisions.
 
@@ -155,14 +156,14 @@ In 2019 lawmakers offered a pension buyout plan where members could opt-out of t
 
 ### Difference in Pension Totals
 
-"Fiscal Futures is designed to track government spending by **function**.  In our view, pensions are a form of compensation and therefore are part of the cost of the functions to which the worker is assigned.  Thus, the employer cost for the pension contribution for workers in the department of Labor is a cost of the function of providing government services for labor (e.g administering regulations related to safe workplaces, training for workers, etc.)  The pension expenditures for these workers should be (and are in Fiscal Futures accounting) assigned to the "labor" function.
+"Fiscal Futures is designed to track government spending by **function**.  In our view, pensions are a form of compensation and therefore are part of the cost of the functions to which the worker is assigned.  Thus, the employer cost for the pension contribution for workers in the department of Labor is a cost of the function of providing government services for labor (e.g administering regulations related to safe workplaces, training for workers, etc.)  The pension expenditures for these workers should be (and are in Fiscal Futures accounting) assigned to the"labor" function.
 
 Ideally, we would not have a "pension" category of expenditures at all.  In fact, when we first set up Fiscal Futures we discussed trying to allocate state pension contributions that were not attributable to any specific service across state functions.  After spending a considerable amount of time looking into this we decided it was not feasible to do this and compromised by including state pension payments as a category although it cannot be clearly linked to any function,  This is similar to debt service which also cannot be directly linked to a function"
 
 Pension sources:
 
--   Ralph Matire & Drazzel Feliu. 2019. Center for Tax and Budget Accountability. \"The Impact of Flawed Tax Policy & Pension Debt Repayment Plans on Illinois\' Structural Deficit\"
+-   Ralph Matire & Drazzel Feliu. 2019. Center for Tax and Budget Accountability. "The Impact of Flawed Tax Policy & Pension Debt Repayment Plans on Illinois' Structural Deficit"
 
--   Brown, Jeffrey R. & Richard F. Dye. 2015. \"Illinois Pensions in a Fiscal Context: A (Basket) Case Study\" NBER Working Paper Series. <http://www.nber.org/papers/w21293>.
+-   Brown, Jeffrey R. & Richard F. Dye. 2015. "Illinois Pensions in a Fiscal Context: A (Basket) Case Study" NBER Working Paper Series. <http://www.nber.org/papers/w21293>.
 
 -   CGFA 2014

README.md

@@ -6,7 +6,7 @@ This website was originally created by Alea Wilbur-Mujtaba as an internal docume
 
 While the main purpose of the document is for documenting Fiscal Futures methodology, it also contains useful information on variables used by the Illinois Office of the Comptroller (IOC) that may be of use to other researchers. Frequently discussed topics (e.g. Pensions, Debt, Federal Revenue Sources, Medicaid, etc.) each have their own section dedicated to looking at the many relevant variables for that topic, even if the budget variables re not directly included while calculating the Fiscal Gap.
 
-This is a novel dataset containing all revenue items and all expenditure items from fiscal year (FY) 1998 to FY 2022 received through yearly FOIA requests to the Illinois Comptroller. It can be downloaded in the website's [data folder](https://github.com/AleaWM/Fiscal-Futures/tree/main/data). To the authors' knowledge, the revenue and expenditure data used in the analysis does not exist elsewhere and cannot be downloaded from the Comptroller's website or the Illinois Data Portal in this format.
+This is a novel dataset containing all revenue items and all expenditure items from fiscal year (FY) 1998 to FY 2022 received through yearly FOIA requests to the Illinois Comptroller. It can be downloaded in the website's data folder. To the authors' knowledge, the revenue and expenditure data used in the analysis does not exist elsewhere and cannot be downloaded from the Comptroller's website or the Illinois Data Portal in this format.
 
 This document is a good faith effort to increase reproducibility and transparency. It is a living document in which we aim to describe things as clearly as possible in the time we have, share it with others, and improve each time we come back to it.
 
@@ -24,11 +24,11 @@ If you use code associated with this repository please cite the following work:
 
 The authors and IGPA believe that these novel datasets will be valuable to other researchers interested in Illinois' finances.
 
-Yearly files from the Illinois Comptroller are in the `data`/DATA_DTA/`revenue` and `expenditures` folders. These were acquired through a Freedom of Information Act (FOIA) request. The files within these folders are **before** cleaning or recoding the data. Most of the files for individual years are saved as .dta files due to using Stata before FY21. These individual yearly files are combined into larger files containing all revenues (`allrev22.csv`) and expenditures (`allexp22.csv`) for all fiscal years.
+Yearly files from the Illinois Comptroller are in the `data/DATA_DTA/revenue` and `expenditures` folders. These were acquired through a Freedom of Information Act (FOIA) request. The files within these folders are **before** cleaning or recoding the data. Most of the files for individual years are saved as .dta files due to using Stata before FY21. These individual yearly files are combined into larger files containing all revenues (`allrev_fy23_DATE.csv`) and expenditures (`allexp_fy2023_DATE.csv`) for all fiscal years.
 
 Partially cleaned and recoded data can be found in the `exp_temp` and `rev_temp` files. Old or renamed agencies and new or reused funds have been recoded in these files but observations that are dropped in the analysis remain in these files.
 
-A summary file containing aggregated yearly expenditure and revenue values for categories used in the Fiscal Futures model can be found in the `summary_file_FY2022.xlsx` excel file. This excel file also contains additional tabs for all CAGR values calculated as well as the yearly change between the most recent fiscal year and the previous fiscal year.
+A summary file containing aggregated yearly expenditure and revenue values for categories used in the Fiscal Futures model can be found in the `summary_file_FY23_wTotals_DATE.xlsx` excel file. This excel file also contains additional tabs for all CAGR values calculated as well as the yearly change between the most recent fiscal year and the previous fiscal year.
 
 *The Fiscal Futures Project is associated with the University of Illinois System Institute of Government and Policy Affairs (IGPA). Creating the R code, Github folder, and website for methodology was done by Alea Wilbur-Mujtaba. Any errors with code or findings are the fault of the author, not the research institute. Data is originally from annual FOIA requests to the Illinois Office of the Comptroller.*
 

_quarto.yml

@@ -19,13 +19,14 @@ book:
     - Healthcare.qmd
     - FederalRevenue.qmd
     - Medicaid.qmd
+    - K12_Education.qmd
     - Everything.qmd 
 #    - FiscalGap.qmd
 
   navbar: 
     right: 
       - icon: github
-        href: https://github.com/AleaWM/Fiscal-Futures
+        href: https://github.com/AleaWM/Fiscal-Futures-IL-FY2023.git
     left:
       - text: "About"
         file: index.qmd
@@ -40,9 +41,10 @@ book:
           - Healthcare.qmd
           - FederalRevenue.qmd
           - Medicaid.qmd
+          - K12-Spending.qmd
           - Everything.qmd
       - text: "Data"
-        href: https://github.com/AleaWM/Fiscal-Futures/tree/main/data
+        href: https://github.com/AleaWM/https://github.com/AleaWM/Fiscal-Futures-IL-FY2023/tree/main/data
 #      - text: "Reports"
 #        file: FiscalGap.qmd
  #     - text: "COVID-related Federal Revenue"
@@ -51,7 +53,7 @@ book:
 
 
 
-site-url: https://aleawm.github.io/Fiscal-Futures/
+# site-url: https://aleawm.github.io/https://github.com/AleaWM/Fiscal-Futures-IL-FY2023.git
 #  repo-actions: [edit]
 #  downloads: [pdf, epub]
 #  sharing: [twitter, facebook]
@@ -64,15 +66,20 @@ site-url: https://aleawm.github.io/Fiscal-Futures/
 
 format:
   html:
+    theme: zephyr
+    toc: true
     code-fold: true
     code-tools: true
     code-overflow: wrap
-    df-print: paged
-    theme: 
-      light: lightly
-      dark: darkly
+    code-copy: true
     fig-cap-location: top
     tbl-cap-location: top
+    df-print: paged
+  #   grid: 
+  #     gutter-width: 1rem
+  #     sidebar-width: 300px
+  # #    body-width: 900px
+  #     margin-width: 300px
 
   # pdf:
   #   documentclass: scrreport