COFA's latest analysis reviews the City's timekeeping process - the current challenges, what the City's doing about it & potential opportunities for savings through system modernization.
Read it here: chicago.gov/content/dam/ci…
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Council Office of Financial Analysis (COFA)
94 posts
Council Office of Financial Analysis (COFA)
@ChicagoCOFA
The Council Office of Financial Analysis (COFA) serves the City Council of the City of Chicago.
Chicago, IL ✶✶✶✶ Katılım Ekim 2021
132 Takip Edilen147 Takipçiler
Important context: OIG's audit covers 2015–2023. Within that period, we agree with the findings & appreciate OIG’s review.
Since 2025, COFA strengthened analytical quality, timeliness & support for City Council decision making. See COFA's full response in the report for details:
Chicago Office of Inspector General@ChicagoOIG
OIG finds @ChicagoCOFA provided limited assistance to City Council in budget planning and decision making. 🔗 igchicago.org/publications/c…
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COFA’s FY2026 Settlement Tracker is now available.
In Q1 2026, City Council approved $74.5M in settlements -- 52% of the $142.55M citywide settlement budget for the year.
Keep up with Council-approved settlements here: chicago.gov/city/en/depts/…
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Fitch Ratings and KBRA recently downgraded the City of Chicago’s General Obligation bond ratings. COFA’s analysis reviewing these rating actions is now available.
📄 Read the report here: chicago.gov/content/dam/ci…
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Want to dig into Chicago’s FY2026 budget in more detail?
🔎 COFA's new interactive dashboard lets you view spending citywide or dive deeper into department spend by type or fund, explore FTE counts & track appropriation trends
👉 Start exploring: chicago.gov/city/en/depts/…
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COFA’s FY26 Budget Process & Comparative Report is now available. The analysis examines the budget development process and key differences between the recommended and adopted FY26 budget
📄 Read the report → chicago.gov/content/dam/ci…
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COFA's mandated activity report for 2025 Q4 is now publicly available👇
chicago.gov/city/en/depts/…
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As 2025 comes to a close, COFA looks back on a year of change, growth & expanded impact.
Our team delivered analyses, dashboards, explainers & more - responding to requests & supporting City Council’s work throughout the year.
We’re excited to build on this momentum in 2026!
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Mayor Johnson's FY 2026 Budget Recommendation was released last Thursday, October 16. COFA's summary & trend analysis is now available: chicago.gov/city/en/depts/…
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Another busy quarter for COFA! Interested in what we've been up to? Our Q3 report is out now --> chicago.gov/city/en/depts/…
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🏡 How much do property taxes really matter for our city’s budget — and for you?
📄 COFA’s new one-pager breaks it down: how property taxes are calculated, what they fund, and how they impact homeowners. Check it out on our website --> chicago.gov/cofa
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🔎 Curious about the outlook for Chicago’s finances?
COFA’s review of the City’s FY2026 Budget Forecast is out now—highlighting key takeaways, challenges ahead, and what it means for budget season.
📘 Read the full analysis: chicago.gov/content/dam/ci…
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Our annual State of the Economy report is now live!
“Understanding both national & local economic conditions is essential for local policymakers as they make decisions about the City’s fiscal health & long-term planning" - Janice Oda-Gray, COFA CAO chicago.gov/content/dam/ci…
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📊Last month, the City released its FY 2024 Annual Comprehensive Financial Report. We've broken it down for you. See how Chicago’s finances performed last year -- revenues, expenses, assets & more.
🔍 Read COFA's new analysis here: chicago.gov/content/dam/ci…
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📢Hot of the press: COFA's inaugural mid-year report is live!
🧾 Dive into budget options, muni finance trends, M/WBE compliance, vacancies & more. Read it here: chicago.gov/city/en/depts/…
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🧩 Not all budget solutions are equal.
Chicago has relied on one-time fixes—like COVID aid and small fee hikes—to close recent gaps. But these don’t last. Long-term structural changes are needed & City Council is exploring options for FY26.
📘 COFA’s explainer says more:
Council Office of Financial Analysis (COFA)@ChicagoCOFA
📰 Chicago’s growing budget gap has been making headlines -- but what does it actually mean? COFA’s latest explainer breaks down what is it, why it matters & the challenges ahead. 🧾 Read it here: chicago.gov/content/dam/ci…
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📰 Chicago’s growing budget gap has been making headlines -- but what does it actually mean?
COFA’s latest explainer breaks down what is it, why it matters & the challenges ahead.
🧾 Read it here: chicago.gov/content/dam/ci…
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📊 COFA’s Q2 Activity Report is now live -- see how we supported City Council’s legislative and fiscal work this spring.
🔗 Read the full report here: chicago.gov/city/en/depts/…
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📊 That's a wrap on our budget process breakdown! But while budget debates heat up in the fall, the work never stops. All year long, OBM tracks revenue & spending -- COFA will provide you with updates
📅 Stay informed: chicago.gov/city/en/depts/…
Council Office of Financial Analysis (COFA)@ChicagoCOFA
Interested in how Chicago's City Council works with the Mayor’s office to fund City services? Ever questioned what impacts our budget decisions? This month, COFA is breaking it down for you. Follow along!
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Budget process breakdown – budget season:
🗓️ By October 15, the Mayor submits a proposal & it's City Council’s time to shine. Through many, many hearings to question, debate, & refine the Mayor’s proposal, COFA provides resources & support. A final budget must be passed by Dec 31
Council Office of Financial Analysis (COFA)@ChicagoCOFA
Interested in how Chicago's City Council works with the Mayor’s office to fund City services? Ever questioned what impacts our budget decisions? This month, COFA is breaking it down for you. Follow along!
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