In 2015, the City Council Office of Financial Analysis (COFA) was created to serve as the City Council’s independent budgetary arm. COFA provides the City Council with fiscal analysis of legislation, forecasts, and budget recommendations.

COFA applies the tools of financial analysis to budget recommendations and forecasts, the City's annual audit, proposed public-private partnership agreements or asset leases, bond rating agency actions, and other matters as requested by Aldermen. COFA also provides an options report of potential cost-saving reforms and efficiencies.

Contact us at cofa@cityofchicago.org


Latest COFA Publications


2023 ACFR
Overview & Analysis of Annual Comprehensive Financial Report - Cover image.
2024 State of the Economy
State of the Economy 2024 image
Bond Proposal
Bond Proposal 2024 cover image

Ratings & Outlook Changes for Chicago Bonds
Ratings & Outlook Changes for Chicago GO Bonds- 2023
2024 Budget Options Report
Image of cover page to COFA's Budget Options Report - Fiscal Year 2024
2024 Budget Forecast Analysis
Image of cover page to COFA's Analysis of Annual Budget Forecast 2024

Natural Gas or Electric – Chicago’s Choice
Natural Gas or Electric – Chicago’s Choice
2023 Proposed Budget Analysis
Image of cover page to COFA's analysis of the the Mayor's Proposed 2023 Budget.
2024 Proposed Budget Analysis
Image of cover page to COFA's Analysis for the City's 2023 Budget Forecast.

2023 Budget Forecast Analysis
Image of cover page to COFA's Analysis for the City's 2023 Budget Forecast.


Department Main Office

City Council Office of Financial Analysis

Department Facts