Cook County Preliminary Forecast Shows Substantial Operating Surplus for Year-End FY2023 and Moderate Budget Deficit for FY2024 – Civic Federation

Updated projections were provided during a budget hearing this week that incorporate the costs of pay increases to County employees. The projected budget gap for the upcoming fiscal year, FY2024, was initially estimated to be approximately $86 million based on the June preliminary forecast. The updated projections, however, have increased the anticipated FY2024 budget gap to $170 million.