FY2020 Preliminary Forecast

General Fund FY2020 Preliminary Forecast

The FY2020 outlook includes a projected shortfall of $11.9 million in the General Fund with revenues $4.7 million above the FY2019 adopted budget and expenses $16.6 million above FY2019. 

Revenue Projections
Annual revenue is organized by a number of different buckets that include non-property taxes administered by Cook County, Property Taxes of which the base levy has remained flat since 1996, various fees and licenses as well as miscellaneous revenue.
The preliminary estimate for General Fund revenues in FY2020 is $1,872.1 million. This represents an increase of $4.7 million or 0.3 % compared to FY2019 budgeted revenues. This includes a $21.1 million increase in County Sales Tax collections due to a growing economy and expected decline of $13 million in the Cigarette Tax.
Non-property taxes are expected to modestly increase driven by growth in County Sales Tax revenue due to a robust economy and an estimated increase in Gambling Machine Tax revenue ($3.3 million) from recently passed state legislation expanding casino gambling. 
The preliminary estimate for Miscellaneous Revenues for FY2020 is $32.7 million. It includes $6.6 million in estimated revenue from new Cannabis and Sports Betting Taxes recently approved by the Illinois General Assembly. These two new tax sources will be categorized as Non-Property Taxes upon final approval.
Additional information is available by clicking on page two of the chart below.

General Fund Expenditures by Functional Area

FY2020 General Fund expenditures are projected to increase by $16.6 million over the FY2019 appropriation. The accompanying chart provides expenditure data by functional area, such as the County's economic development efforts.

This increase is driven by an overall increase of 3% in personnel expenditures ($38.2 million) due to Board approved wage increases. FY2020 represents the last year of the current collective bargaining agreements. This agreement includes a 2% mid-year Cost of Living Allowance in FY2020, but freezes step increases to maintain wage growth at inflationary levels. Another key component of the personnel-related expense increase is rising employee health benefit costs ($11.7 million) which are expected to rise at a rate above medical inflation. 
Additional information is available by clicking on page two of the chart below, including a drop-down menu that allows for a further level of detail.

General Fund Expenditures by Type
The accompanying chart provides expenditure data by by personnel and non-personnel expenditure type. Personnel includes salary and benefits. Non-personnel includes contractual services, operations, maintenance, supplies and other contingency expenses.

We Want to Hear from You
What are your ideas for improving county services? What are your ideas for making county government more efficient? How can we improve the budget process for next year? For more information and to share your ideas, visit our website: http://www.cookcountyil.gov/budget or email: budget.questions@cookcountyil.gov 

An alphabetical list of budget related terms with helpful explanations is available here.