Cook County has released the preliminary forecast for the County’s 2022 Fiscal Year showing a projected gap of approximately $121.4 million - a considerable decline from the nearly $410 million projected gap in the County’s 2021 Fiscal Year.
Rebounding revenues, federal relief, and prudent financial management have contributed to the encouraging budget picture.
The preliminary budget forecast report presents a mid-year projection of year-end revenues and expenses for the last fiscal year (FY2021) and an initial forecast for this fiscal year (FY2022). The report shows revenues and expenses for the General Fund and Health Enterprise Fund, the County’s two major operating funds.
The FY2022 outlook includes a projected shortfall of $60.3 million in the General Fund - which is down from $222.2 million at the same time last year.
FY2022 revenues are forecasted to be $80.5 million above the FY2021 adopted budget because of the expected economic rebound in a fully re-opened Illinois.
FY2022 expenses are forecasted to be $140.8 million above the FY2021 adopted budget because of expected increases in personnel.
Residents can visit the County’s website at http://www.cookcountyil.gov/Budget to view the preliminary forecast.
Residents will also be able to submit budget questions at https://www.cookcountyil.gov/service/submit-budget-questions.