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File #: 20-3165    Version: 1 Name: FY2021 Preliminary Forecast
Type: Report Status: Held / Deferred in Committee
File created: 7/7/2020 In control: Finance Committee
On agenda: 7/16/2020 Final action:
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 Meet...
Indexes: ANNETTE GUZMAN, Budget Director

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.

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