20-3165

Mon, 30 Jan 2023 17:33:57 GMT

File #: 20-3165
Ver.: 1
Agenda #:
Type: Report
Title: 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 scheduled for July 16, 2020.
Action:
Result:

Board of Commissioners of Cook County - Meeting of Finance Committee on 7/16/2020 at 10:30 AM

20-3165