The City of Chicago Office of Budget and Management released its preliminary budget estimates for 2011, marking the first step of the city’s formal annual budget process. The estimated 2011 budget is $6.3 billion, with a $3.39 billion Corporate Fund.  A shortfall is projected of around $600 million dollars.

The process also include public hearings, and meetings between the Mayor, the Budget Office, Aldermen and City Departments.  Mayor Daley will present his 2011 budget proposal in October, and passage by City Council is required by the end of the year.

Links

Department of Budget Management Website

Press Release – City Releases 2011 Preliminary Budget Estimates

Press Release – 2011 Preliminary Budget Public Hearings Rescheduled

Files

Chicago 2011 Preliminary Budget Briefing

Chicago 2011 Preliminary Budget Estimates (2.5 mb)

Chicago 2011 Budget Hearings Schedule