Afternoon Briefing: Cook County unveils $218 million budget gap for 2025

Good afternoon, Chicago. Here's what is happening today.

Good afternoon, Chicago.

Cook County Board President Toni Preckwinkle is projecting a $218 million budget gap next year, largely driven by raises she granted to county employees and the resulting growth in needed pension payments.

While Preckwinkle’s finance team said this week it’s “a little too early” to say how that gap will be closed, they also projected the county is on track to end 2024 with a surplus of about $367 million, according to figures released as part of the county’s midyear forecast.

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