Cook County Independent Revenue Forecasting Commission met July 26.
Here are the minutes provided by the commission:
Present: Chair Tanya Anthony, Dr. Natalie Davila, Dr. David Merriman, Dr. Paula Worthington*
* ATTENDED REMOTELY
1. Logistics
It was requested that all participants attending the meeting virtually stay muted, and it was noted that registered speakers would be able to comment at the end of the meeting. Individuals who were not registered could sign up to speak in the chat. Members of the public attending the meeting in person could sign up to speak using the sign-up sheet in Room D. The meeting was recorded for public record. The meeting was called to order.
2. Approval to allow virtual participation
A motion was made by Comm. Merriman and seconded by Comm. Davila, to allow for virtual participation in the meeting. The vote of the yeas and nays being as follows:
Yeas: IRFC Commissioners Anthony, Davila, Merriman, and Worthington (4)
Nays: None (0)
Absent: None (0)
The motion carried.
IRFC Commissioner Worthington participated remotely.
3. Opening Remarks
Chair Anthony welcomed everyone to the meeting and thanked everyone for their hard work.
4. Approval of the Minutes from the Meeting of 06/27/2023
A motion was made by Comm. Davila and seconded by Comm. Merriman, to approve the minutes from the meeting of 06/27/2023. There were no changes to the minutes. The vote of the yeas and nays being as follows:
Yeas: IRFC Commissioners Anthony, Davila, Merriman, and Worthington (4)
Nays: None (0)
The motion carried.
5. Quarterly updates
Ray Furlong provided an update on the recovery of certain revenues significantly impacted by the COVID-19 pandemic, including revenues derived from parking lot and garage taxes, amusement taxes, gasoline and diesel taxes, and hotel accommodation taxes. Lindsay Hollander provided updates on efforts to improve forecasting fee revenues as well as spending and sustainability related to the American Rescue Plan Act (ARPA). Tanya Anthony provided an update on a recent cost of living adjustment (COLA) agreement and the COLA’s fiscal impact to the county’s budget.
6. Preliminary IRFC recommendations
Lindsay Hollander presented previously expressed recommendations from the commissioners. These recommendations were to reassess the factors utilized in the Cook County Health (CCH) revenue forecast, engage with Illinois Department of Revenue (IDOR) to access detailed sales tax data, continue to consider options to sustain ARPA programs in the long term, and update and enhance tax history and methodological reports.
7. Upcoming meeting schedule and next steps
Lindsay Hollander provided future IRFC meeting dates. The dates are below.
August 24, 2023 IRFC Recommendations
October 26, 2023 4th Quarter
8. Public Comment
There were no registered public speakers in person or in the virtual chat. Chair Anthony opened it up to speakers that wanted to address the commission. None came forward.
9. Adjournment
A motion was made by Commissioner Merriman and seconded by Commissioner Davila to adjourn the meeting. The motion prevailed and the meeting stood adjourned.
https://cook-county.legistar.com/MeetingDetail.aspx?ID=1114042&GUID=D1851873-D65A-45E1-8E2D-0773102C9903&Options=&Search=
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