This story was originally published by City Bureau on October 16, 2020.
What are the different parts of the budget?
The best way to understand special revenue funds is to look more closely at certain taxes. Fees collected from vehicle stickers, impoundment, or towing are another source of the city’s revenue. With vehicle stickers costing around $90, the city sought to earn $129 million in revenue this year from that tax alone. Residents also pay a $5 surcharge on their monthly cell phone bill to help fully fund the Office of Emergency Management and Communications (the city’s 911 service line).
How much power do the aldermen have compared with the mayor in the budget process?
Chicago operates on an annual budget cycle, allocating money for one year. While this is common in other large American cities such as Philadelphia, New York City, and Los Angeles, some cities such as Oakland and Richmond allocate money for a period of two years.
This story was produced by City Bureau, a civic journalism lab based in Chicago.
