Thread: Hey Cook County, It's the Sanctuary Status Stupid

Cook County faces another budget hole

July 31, 2007
By Fran Spielman Special to the Daily Southtown
Chicago Mayor Richard Daley on Monday dropped the other shoe on Chicagoans bracing for a post-election tax increase: There's a whopping $217.7 million hole in the city's 2008 budget.

It means revenue increases, layoffs, spending cuts or a painful mix of the three.

The shortfall in the $5.6 billion preliminary 2008 budget is the second largest in 10 years and is coupled with a nearly $40 million gap in the city's water and sewer funds.

Rising personnel costs and declining tax revenue, tied to the housing slump, mean Chicago expects to close the books on 2007 with just $5.2 million in the bank. That's down from $26.8 million last year and $57.6 million in 2005.

The bad news comes just five months after Daley breezed to re-election on a budget that froze the city's property tax rate and held the line on all other taxes and fees.

Union leaders accused the city of exaggerating the crisis. The preliminary budget sets aside some money for union pay raises, but city officials refused to say how much.

"During the election year, everything is fine. The following year, when they sit down to negotiate contracts, there's always a black hole," said Fraternal Order of Police president Mark Donahue, whose union seeks a 24 percent pay raise over four years and a $3,000-a-year residency stipend.

Ald. Bernard Stone (50th) accused Chief Financial Officer Paul Volpe of shoving the bad budget news under the rug until after the election.

"This doesn't happen overnight," he said.

"We've always been open and honest," Volpe said. "There's nobody who could have predicted such a slowdown in the real estate market."

Volpe said he hopes to shave $50 million off the deficit by asking the General Assembly for authority to double -- to $2.50 from $1.25 -- the monthly phone surcharge that helped finance the city's 911 center.

The last time Chicago was faced with a similar budget shortage, $220 million in 2005, the gap was closed with $108.7 million in tax increases on everything from sales, cigarettes and hard liquor to hotel rooms, parking and natural gas.

After closed-door budget briefings, aldermen said Monday they were determined to steer clear of any increase in the dreaded property tax.

Even if the property tax rate was raised to the maximum allowed by the city's self-imposed cap, it would only raise about $30 million more, according to Ald. Pat O'Connor (40th), Daley's unofficial city council floor leader. Higher water rates are among the possible ways to boost revenue, city officials said.

Chicago Sun-Times

Naw......can't be the sanctuary status, corrupt officials.....

Originally Posted by crazybird

Naw......can't be the sanctuary status, corrupt officials.....

I'm sure its both. I wonder what Cook County will do when it runs out of taxpayers because they are fleeing at the speed of sound. Oh wait, maybe they are hoping that by then Obama will be President, legalize them all and they will become Cook County's savior

Tax payers are fleeing to the suburbs and then they ask for state funds to cover their problems. They're already after us for extra funds to fix their problems for the possibility of the olympics.

Originally Posted by WhatMattersMost

Ald. Bernard Stone (50th) accused Chief Financial Officer Paul Volpe of shoving the bad budget news under the rug until after the election.

"This doesn't happen overnight," he said.

"We've always been open and honest," Volpe said. "There's nobody who could have predicted such a slowdown in the real estate market."

This man has a greater problem than the Cook Co. Sanctuary City status.

You would think the fleeing of the middle class taxpayers from Calif would have warned the rest of the country wouln't want to learn by others mistakes




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