Cook County Independent Revenue Forecasting Commission
Cook County Board of Commissioners#
This is a remote assignment. The meeting will be held via Microsoft Teams at this link. You should be able to select the option of “join from browser” if you do not have Microsoft Teams downloaded.
To protect the meeting from Zoombombing, please do not post the meeting link directly on social media. See meeting posting for additional details.
Check the source website for additional information
Reporting
Edited and summarized by the Chicago - IL Documenters Team
ARPA grant funds, Inflation, Sales tax
Good evening! I’ll be live-tweeting today’s Cook County Independent Revenue Forecasting Commission meeting for @CHIdocumenters.
The meeting is scheduled to start at 5:30 PM. Due to COVID-19, the meeting will be held remotely via Teams. #CHIdocumenters
05:31 PM Jan 31, 2022 CST
The link to watch live and view the agenda is at this page: https://cook-county.legistar.com/MeetingDetail.aspx?ID=927528&GUID=6565A3AB-CA1B-4FB7-B93B-74625B6E41E9&Options=&Search= https://t.co/g9gVYBiuFY
The Independent Revenue Forecasting Commission (IRFC) is comprised of 4 ppl - the Cook County CFO (A. Rizki), two local academic economists (Dr. D. Merriman & Dr. P. R. Worthington), and a member of the public with expertise in public finance (K. Walker).
The last quarterly report to IRFC was 10/28/2021. The minutes from that meeting will be first approved and then the updates on the FY22 budget will be reviewed today. December 1st was the start of FY22.
While the budget is created and approved by the Cook County Board of Commissioners, this independent commission was created by an ordinance to develop and analyze the five-year consensus revenue forecast.
While waiting for the meeting to start, this is a helpful graphic from the last quarterly meeting of what the FY22 Total Budget Recommendation consists of: https://t.co/poeNN3LG2J
The Deputy CFO, D. Constantinou leads the meeting to start ou and provides the current goals the IRFC is working towards: https://t.co/zViv2OI7pN
For context, the Commission is responsible for evaluating and forecasting any new revenue sources proposed by the Board or President. Whether that’s cannabis tax revenue, fuel taxes, increases in property taxes, and other sources of tax revenues in a long dizzying list…
They provide an independent look at how the flow of revenue is budgeted and if that’s appropriate or not based on each commission member’s expertise.
Agency Information
Cook County Board of Commissioners
County Commissioners are elected officials who oversee county activities and work to ensure that citizen concerns are met, federal and state requirements are fulfilled, and county operations run smoothly. The Cook County Board of Commissioners is the governing board and legislative body of the county. It is comprised of 17 Commissioners, each serving a four-year term and is elected from single member districts. Each district represents approximately 300,000 residents. The Board also operates approximately 40 committees and subcommittees chaired by members of Board of Commissioners.
Remote meetings of the Cook County Board of Commissioners are live-streamed at https://www.cookcountyil.gov/service/watch-live-board-proceedings
Learn more or share your own tips about the Cook County Board of Commissioners on the Documenters message board here.
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Cook County Independent Revenue Forecasting Commission
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5:30 p.m. CDT