(Chicago, IL) – February 20, 2012. Mayor Rahm Emanuel today announced the release of the first-ever City of Chicago quarterly budget report, noting that city tax collection is running about $50 million higher than originally estimated.
“For the first time ever, the City is providing the public with regular progress reports on where the City stands financially to ensure a more open and honest budgeting process,” said Emanuel.
Each quarterly report will detail progress made during that quarter on the major initiatives introduced as a part of the 2012 budget.
According to today’s report, the extra $50 million is due to increases in hotel, sales and commercial real estate taxes, among others.
The quarterly report will be available online at www.cityofchicago.org.
Gov. Pat Quinn
Discussion
No comments yet.