City of Chicago Announces Revised Timeline for FY2025 Budget
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CHICAGO ~ Chicago's City Council has announced a change to 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, originally scheduled for October 30, 2024, has been rescheduled to allow for a more comprehensive and inclusive budget process.

The new timeline will shift department budget hearings to November 6, 2024 through November 20, 2024. This adjustment aims to provide additional time for thorough engagement with City leaders, departments, community stakeholders, labor groups, and City Council members.

Mayor Brandon Johnson emphasized the importance of involving all voices in the budget process. "Chicago's budget must reflect the shared responsibility we have to our residents," he stated. By extending the timeline, the city is ensuring that all perspectives are considered in making informed and transparent fiscal decisions that meet the needs of Chicago residents.

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

Budget Director Annette Guzman expressed her goal of creating a budget that reflects the diverse priorities of Chicago communities and addresses critical challenges. "This timeline adjustment provides necessary flexibility to fully explore potential revenue sources and cost-saving measures while minimizing any impact on essential services and programs," she said.

The City of Chicago remains dedicated to creating a budget that reflects the needs and priorities of its residents while maintaining fiscal stability. The revised timeline allows for a more inclusive and thorough process that will result in informed decisions for the future of Chicago.

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