But the outgoing mayor’s financial team said Tuesday the administration is leaving Mayor-elect Brandon Johnson with a projected budget gap of just $85 million for his first year.
The latest forecast, which city officials are presenting at an Executives Club event Tuesday afternoon, does not count on federal COVID-19 relief money to close gaps, the city said. The forecast does include debt service payments, stock market losses that were slated to balloon pension deficits and “conservative” assumptions about how a potential recession might affect the city’s budget.
Lightfoot tried to tout her fiscal discipline on the campaign trail. She highlighted her dedication to pay down the city’s pension obligations, secure new revenue streams from the Bally’s casino, a deal to sell water to Joliet and a $750 million reduction in outstanding debt since she took office in 2019. But after losing in the first round, the latest announcement offers a chance to burnish her legacy.
Source: Financial Digest (financialdigest.net)
Watch it grow under him
They raised millions for their campaigns in a few days. They can do it for the budget too. Didn't they each make like 100 million
This loser can’t even pay his own bills.
🤬 Johnson
In the land of the blind, the one-eyed man is king.
Which will widen as all of our houses sell. Can’t get blood from a turnip.
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