Chicago City Wire

The City of Chicago has announced a revised timeline for the Fiscal Year 2025 Budget Calendar. In accordance with Executive Order 2023-19 and the recent budget forecast, the introduction of the FY2025 Executive Budget Recommendation is now set for October 30, 2024. This change aims to allow for a more comprehensive and inclusive budget process, ensuring informed and transparent fiscal decisions that reflect the needs of Chicago residents.

The updated schedule moves department budget hearings to November 6, 2024, through November 20, 2024. This extension provides additional time for in-depth engagement with city leaders, departments, community stakeholders, labor groups, and City Council members.

"Chicago’s budget must reflect the shared responsibility we have to our residents," said Mayor Brandon Johnson. "By extending the timeline, we are making sure we engage all voices in this process, ensuring fiscal stability while protecting vital services."

The revised timeline is intended to facilitate a more thorough assessment of financial strategies to ensure the long-term health and stability of the city's finances. The Office of Budget and Management remains committed to providing ongoing support to ensure a seamless transition to the updated schedule.

"Our goal is to ensure that the FY2025 Budget reflects the diverse priorities of our communities and addresses the critical challenges we face," said Budget Director Annette Guzman. "This timeline adjustment provides the necessary flexibility to fully explore potential revenue sources and cost-saving measures while minimizing any impact on essential services and programs."

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