Board of Commissioners of Cook County - File #: 23-5684

• File #: 23-5684
• Version: 1
• Name: Quarterly Update of the Long-Term Revenue Forecast
• Type: Report
• Status: Filed
• File created: 11/2/2023
• In control: Board of Commissioners
• On agenda: 11/16/2023
• Final action: 11/16/2023
• Title: REPORT Department: Office of the Chief Financial Officer Report Title: Quarterly Update of the Long-Term Revenue Forecast Report Period: FY2024 - FY2028 Summary: The following report provides an update between the Long-term Financial Plan provided to the Independent Revenue Forecasting Commission (IRFC) and posted on the County's website in June 2023, and the most up-to-date forecast. This report includes a variance analysis comparing the two forecasts and provides an explanation for the significant variances, along with additional supporting details outlining progress made on the County's sales tax projections. A summary of the impact of the revenue projections on our long-term expense projections for both the General and Health Funds is also included. We conclude with FY2024 project plans and an update on recent regional and relevant economic activity.
• Indexes: TANYA S. ANTHONY, Chief Financial Officer, Bureau of Finance

Date	Ver.	Action By	Motion	Result
11/16/2023	1	Board of Commissioners	receive and file	Pass

title

REPORT

Department:  Office of the Chief Financial Officer 

Report Title:  Quarterly Update of the Long-Term Revenue Forecast

Report Period:  FY2024 - FY2028

Summary:  The following report provides an update between the Long-term Financial Plan provided to the Independent Revenue Forecasting Commission (IRFC) and posted on the County’s website in June 2023, and the most up-to-date forecast. This report includes a variance analysis comparing the two forecasts and provides an explanation for the significant variances, along with additional supporting details outlining progress made on the County’s sales tax projections. A summary of the impact of the revenue projections on our long-term expense projections for both the General and Health Funds is also included. We conclude with FY2024 project plans and an update on recent regional and relevant economic activity.

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