The Civic Federation on Wednesday released its latest report, City of Chicago FY2024 Proposed Budget: Analysis and Recommendations. The report was prepared for consideration by Mayor Johnson and his administration as well as the City Council in advance of the Council’s upcoming vote on the proposed FY2024 budget in mid-November. The report is also intended to be a resource for the…
EXECUTIVE SUMMARYThe Civic Federation supports Mayor Johnson’s proposed FY2024 budget of $16.6 billion. The City of Chicago budget continues to benefit from the region’s strong economic recovery from the pandemic and recently improved revenue performance in areas that had thus far been slower to recover, such as tourism and large events. Further, it reflects several policies that the Civic…
Federation praises supplemental pension payments, increase in Police Department civilian positions, but warns of budget’s structural imbalance and future fiscal strains
This blog takes an updated look at the Chicago Police Department (CPD) budget and staffing levels for 2023 based on the City of Chicago’s adopted budget for fiscal year 2023. The Mayor will introduce a new budget proposal for FY2024 later this fall. How much does the City of Chicago budget for public safety?The total City of Chicago budget adopted for Fiscal Year 2023, which ends…
During the last week of May, after the Illinois General Assembly had been scheduled to adjourn, legislators passed four budget bills for fiscal year 2024: the appropriations bill, the bond authorization bill, the budget implementation bill and the revenue omnibus bill. The Governor signed them into law on June 7. This blog will explore the trends between the year-end FY2023 estimates…
Cook County Preliminary Forecast Shows Substantial Operating Surplus for Year-End FY2023 and Moderate Budget Deficit for FY2024 On June 22, 2023, Cook County Board President Toni Preckwinkle issued a preliminary budget forecast for fiscal year 2024. The fiscal year begins December 1, 2023, and ends November 30, 2024. The report provides end-of-year estimates for the current 2023 fiscal…
The Federation urges the District to develop a long-term financial plan as costs continue to rise and a financial cliff looms. Click here to visit the report landing page.CHICAGO – In an analysis released today, the Civic Federation expressed significant concerns about the long-term viability of Chicago Public Schools’ finances. While the District’s $9.8 billion FY2024 budget is stable due…
Click here to read the full report.Click here to read the press release for this analysis.SUMMARYThe Civic Federation continues to have significant reservations about the long-term viability of the District's finances. The CPS budget of $9.8 billion for the coming year is stable due to a combination of federal COVID-19 relief funds and local tax sources, including a property tax increase to the…
Last week, the Civic Federation released its report, Financial Challenges Facing the Chicago Mayor and the City Council, which provided an overview of the City’s top financial challenges, options for additional revenue sources, financial management options to promote efficiencies and several recommendations. Among these recommendations was a call to expand the budget and authority of the City…
