Following the success of last year’s Budget Blog, which provided a relatively succinct way to communicate with residents about the complicated topic of the City Budget, 1st Ward Staff are once again maintaining a blog about the budget.

What is the Budget Gap? (October 22, 2024)

The published budget gap in the 2025 Budget Forecast is nearly $1 billion, which is quite a daunting figure. Yet, two years ago the City forecast was much less extreme, with a forecasted 2025 gap of approximately $550 million. While that number is not small, it’s much less than the current gap. What changed in two years? This budget blog tackles some of the line items forecasted by the City, to show how Alderman La Spata and the 1st Ward staff form budget priorities. This blog discusses issues and forecasts related to pensions, projected Building Permit and Business License fees, and services for our new arrivals seeking asylum.

You can read more here, and with the City’s Comprehensive Annual Financial Reports and Budget Forecast documents for 2023 and 2025: