Board of Commissioners of Cook County - File #: 23-3011

• File #: 23-3011
• Version: 1
• Name: Quarterly Update of the Long-Term Revenue Forecast
• Type: Report
• Status: Filed
• File created: 5/15/2023
• In control: Finance Committee
• On agenda: 5/25/2023
• Final action: 6/29/2023
• Title: REPORT Department: Office of the Chief Financial Officer Report Title: Quarterly Update of the Long-Term Revenue Forecast Report Period: FY 2023 -FY 2027 Summary: The following report updates the Long-Term Financial Plan provided to the Independent Revenue Forecasting Commission (IRFC) as of January 2023. 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 FY2023 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
6/29/2023	1	Board of Commissioners	receive and file	Pass
6/28/2023	1	Finance Committee	recommend for receiving and filing	Pass
5/25/2023	1	Board of Commissioners	refer	Pass

title

REPORT

Department:  Office of the Chief Financial Officer

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

Report Period:  FY 2023 -FY 2027 

Summary:  The following report updates the Long-Term Financial Plan provided to the Independent Revenue Forecasting Commission (IRFC) as of January 2023. 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 FY2023 project plans and an update on recent regional and relevant economic activity.

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