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Please note: this meeting's minutes have not been finalized yet. Actions taken on legislation and their results are not available.
Meeting Name: Finance Committee Agenda status: Final
Meeting date/time: 7/16/2020 10:30 AM Minutes status: Draft  
Meeting location: Virtual Meeting
Meeting to set the schedule for Mid-Year Budget Hearings
Published agenda: Agenda Agenda Published minutes: Not available  
Meeting video:  
Attachments: To comment on an item at this meeting, click here, To watch live, click here, Mid-Year Budget Hearings 2020 - Finance Committee - Schedule.pdf, FY2020 Mid-Year Budget Review Package.pdf
File #Ver.Agenda #NameTypeTitleMotionResultAction DetailsVideo
20-3165 1 FY2021 Preliminary ForecastReportREPORT 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.   Not available Not available