In the midst of her re-election campaign, Cook County Board President Toni Preckwinkle said the County is projecting its smallest budget gap in more than a decade.
Preckwinkle said the County's projections also show that the County will not need layoffs, nor will it need tax or fee increases to balance its budget.
County Budget Director Annette Guzman said the preliminary numbers show a budget shortfall of $18.2 million, out of a budget that totals $8 billion. That would be the smallest gap since Preckwinkle took office.
“We entered into this very difficult pandemic period on really strong financial footing, and as a result we’ve been able to weather it a lot better than other local governments,” Preckwinkle said.
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County budget director Annete Guzman said the preliminary numbers show a budget shortfall of $18.2 million. That would be the smallest gap since Preckwinkle took office.
Guzman acknowledged that Federal American Rescue Plan Act funds have helped.
“We’re really proud of the way that we’ve gone forward with the plans for ARPA and are really looking forward to a number of initiatives coming online this year and next year.”
But the possibility of a recession means there are clouds on the horizon.
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