Cook County Board of Commissioners Finance Committee met July 16.
Here is the agenda provided by the committee:
Presented by: ANNETTE GUZMAN, Budget Director
REPORT
Department: Department of Budget & Management Services
Report Title: FY2021 Preliminary Forecast
Report Period: December 1, 2019 - November 30, 2020 and December 1, 2020 - November 30, 2021
Summary: Pursuant to Section 2-933 of the Cook County Code of Ordinances, the Department of Budget & Management Services (DBMS) submits the attached FY2021 Preliminary Forecast, which presents a mid-year projection of FY2020 year-end revenues and expenses and an initial forecast of the FY2021 revenues and expenditures.
For Fiscal Year 2020, DBMS projects a budget shortfall of $219.7 million in the County’s General Fund and $60.6 million in the County’s Health Fund, for a total operating fund deficit of $280.3 million.
For Fiscal Year 2021, DBMS forecasts a budget shortfall of $222.2 million in the County’s General Fund and $187.4 million in the County’s Health Fund, for a total operating fund deficit of $409.6 million.
DBMS will formally introduce this item at the Special Meeting of the Cook County Board of Commissioners
https://cook-county.legistar.com/DepartmentDetail.aspx?ID=-1&GUID=F1990FE7-FDB2-4981-9F7C-83B7F1CFD59A&R=ebd632b3-b477-43f4-a925-a84943928dfb
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