What does the Office of Budget and Management do?
The City of Chicago Office of Budget and Management (OBM) is responsible for preparing and executing the City’s annual budget. OBM evaluates the efficiency and efficacy of all City operations and drives management reforms that improve the City’s fiscal condition and increase taxpayer value.
What is a budget?
The City budget reflects anticipated income and planned spending over a fiscal year and reflects the choices and priorities of the Mayor and City Council in allocating public resources. It shows how various City entities plan to invest resources to educate our children, provide law enforcement and emergency services, deliver healthcare, provide housing and social services, fund cultural institutions, and much more.
The Budget shows how much income, known as “revenue,” the City expects to receive in a given year. Revenues are primarily derived from property, business and income taxes, and federal and state grant funds.
How does the budget process work?
The Budget Process page provides information on the City of Chicago budget process.
When does the Budget Process start?
The Budget Process typically starts in June-August. The Budget Calendar page provides detailed information on a monthly breakdown of the budget process.
Is there anything that would help me understand the documents published by the Budget Office?
Yes! The Budget Publications page provides information on the annual ordinance, grant details book, and more.
Are there any resources to help me understand the budget even further?
What are the City of Chicago's main funding sources?
City funds come from grant funds, the corporate fund, enterprise funds, pension funds, special revenue funds, and debt services funds.
Where does the money go?
The City of Chicago allocates funds towards general financing, infrastructure services, public safety, finance and administration, community services, general development, regulatory purposes, and legislative and elections.
What is the Corporate Fund?
The City of Chicago’s general operating fund, used to account for basic City operations and services such as public safety, business and consumer services, and tree trimming. The total appropriable amount for 2022 is $4,887,422,000.
What makes up the Corporate Fund?
The Corporate Fund's main revenue sources are from Local Taxes, Proceeds and Transfers In, Intergovernmental Revenue, and Local Non-Tax Revenue. More information can be found on Page 1 of the Annual Appropriation Ordinance. These sources make up the Corporate Fund.
What are Local Taxes?
Local taxes include the Municipal Public Utility Tax, Chicago Sales Tax, Transactional Taxes, Transportation Taxes, Recreation Taxes, and Business Taxes. The total estimated amount for 2022 is $1,767,451,000. More information can be found on Page 1 of the Annual Appropriation Ordinance.
What are sources of Intergovernmental Revenue?
Sources of Intergovernmental Revenue include the State Income Tax, Personal Property Replacement Tax, Municipal Auto Rental Tax, and Reimbursements for City Services. The total estimated amount for 2022 is $536,243,000. More information can be found on Page 1 of the Annual Appropriation Ordinance.
What are sources of Local Non-Tax Revenue?
Sources of local non-tax revenue include licenses, permits, and certificates, municipal parking, leases, rentals, and sales, finds and penalties, and more. The total estimated amount for 2022 is $1,483,395,000. More information can be found on Page 1 of the Annual Appropriation Ordinance.
What is Appropriation?
An amount of money in the budget, authorized by the City Council, for expenditures for specific purposes. Appropriations are made by account group within each department and fund.