CHICAGO — Mayor Brandon Johnson today announced the release of the City of Chicago’s inaugural Mid-Year Budget Report; a new effort aimed at enhancing fiscal transparency and providing year-to-date insight into the City’s financial performance and budgetary outlook. The report, which is submitted to the City Council Committee on Budget and Government Operations, includes a comprehensive analysis of revenue collections, departmental expenditures, grant funding, and workforce trends through the mid-point of the fiscal year. 

The 2025 Mid-Year Budget Report is submitted in accordance with Section 2-4-055 of the Municipal Code of Chicago and reflects the administration’s continued commitment to proactive financial stewardship and data-driven decision-making. 

“This new budget report shows a clear turning point: revenues are stabilizing, and core operating costs are coming down. That reflects both Chicago’s economic resilience and the disciplined reforms we’ve implemented to contain spending,” said Mayor Brandon Johnson. “This is the kind of fiscal stewardship people deserve—where every dollar is used effectively and transparently to invest in residents and build a stronger, more equitable city.” 

Report Highlights 

Revenue 

• Year-to-date revenues have increased by 4.9%, driven by stronger than expected performance in utility taxes, transactions taxes, income taxes and internal service reimbursements. 

Workforce 

• City attrition—defined as employees retiring or leaving City service—has decreased by 28% since its peak in 2022, reflecting improved retention and greater workforce stability. 

• Overtime expenditures across all departments have decreased by $38 million compared to the same period last year, reflecting improved cost management and scheduling practices, even as overall compensation rates have continued to rise. 

Expenditures and Cost Controls 

• The City has achieved notable reductions in key spending categories, including a $39 million year-over-year decrease in Contractual Services and a $6.4 million decrease in Commodities and Materials on the Corporate fund alone, despite ongoing economic and inflationary pressures.  

This report also provides preliminary analysis of the economic factors that will drive the City’s three-year budget forecast, which is scheduled to be released next month. 

 “This is the first time the City is publishing a mid-year report like this, and it reflects a real shift in how we’re approaching the budget,” said Budget Director Annette Guzman. “We’re being clear about where we stand financially and what it will take to move forward. Transparency isn’t just a principle—it’s a tool to make better decisions and hold ourselves accountable. We invited the public and City Council into the conversation earlier and more meaningfully.” 

The 2025 Mid-Year Budget Report is now available to the public and can be accessed through the Office of Budget and Management website at https://chi.gov/Mid-Year2025. 

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