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(The Center Square) – Although the Chicago City Council passed a budget for 2025 this week, the city’s financial problems are not going away. Chicago taxpayers are looking at a billion-dollar ...
The City Council is the legislative branch and is made up of 50 alderpersons, one elected from each ward in the city. [1] The council takes official action through the passage of ordinances and resolutions and approves the city budget. [2] Government priorities and activities are established in a budget ordinance usually adopted each November.
The Chicago Housing Authority (CHA) is a municipal corporation that oversees public housing within the city of Chicago. The agency's Board of Commissioners is appointed by the city's mayor, and has a budget independent from that of the city of Chicago. CHA is the largest rental landlord in Chicago, with more than 50,000 households.
(The Center Square) – The Chicago City Council could approve a new budget with more than $230 million in tax increases before the end of the week. Before a fire alarm went off in the council ...
The Chicago City Council Chambers are located in Chicago City Hall, as are the downtown offices of the individual alderpersons and staff. The presiding officer of the council is the Mayor of Chicago, who is usually non-voting, except in rare cases, such as to break a tie. The secretary is the City Clerk of Chicago. Both positions are city-wide ...
However, the city of Chicago has a long history of budget deficits. In 2023, the city projected a $538 million dollar deficit, nearly half of the projected shortfall for 2025.
The City Treasurer’s Office is the custodian and manager of all cash and investments for the City of Chicago, the four City employee pension funds, and the Chicago Teacher’s Pension Fund. Additionally, the Treasurer’s Office manages a number of programs that promote financial education and small business growth in Chicago’s neighborhoods.
Chicago is in a deep financial hole and the city's new mayor says that it will take more than tax increases and borrowing to fix it. Chicago's mayor says the city has a massive budget deficit ...