Chicago staring at $306 million 2023 budget gap – The Bond Buyer

Chicago has a $305.7 million gap to close next year as it works to meet a 2023 goal to structurally balance its books, according to preliminary estimates released by the city's finance team Wednesday. While Mayor Lori Lightfoot's administration still needs to finalize estimates before formally releasing the annual budget forecast, the current estimate is down from the $867 million gap warned of in last summer?s forecast which lays out a picture of the city's fiscal health over the next few years.