Cook County will end 2023 flush with cash, with officials projecting a $214.7 million surplus.
“This is one of the smaller gaps of my administration and we are proud of what we have done to create this sturdy financial foundation,” said Cook County Board President Toni Preckwinkle, who was elected in 2022 to a fourth term in office.
A final spending plan is set to be released in October, but Preckwinkle is unlikely to propose tax hikes, layoffs or service cuts to close such a small gap in the county’s projected $8.9 billion 2024 spending plan. The budget must be approved by Dec. 1.
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Inflation, job vacancies combine for Cook County budget surplusCook County Board President Toni Preckwinkle has rolled out her annual budget forecast, an early look at the county’s year-end projections for spending and revenue in 2023 and a look ahead at 2024. The expected shortfall heading into 2024: $85.6 million.
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