All Week Long
Amid financial uncertainty and unpredictability being caused at the federal level, Cook County Board President Toni Preckwinkle today unveiled the preliminary forecast for the County’s Fiscal Year 2026, showing a projected gap of $211.4 million across the County’s General and Health Funds.
Despite the fiscal pressures and economic instability created by federal actions, this represents a decrease from last year’s $218.2 million gap. The FY2026 gap is also significant drop from the peak of the pandemic and its $409.6 million gap.
“By making tough decisions, implementing budget best practices and spending taxpayer dollars responsibly, the County has created a strong fiscal foundation as it navigates the unpredictability and volatility being created at the federal level,” said Cook County Board President Toni Preckwinkle. “The hard work of the last nearly 15 years positions the County well and addresses the potential difficulties and confusion we’ll face over the next few years.”
In the face of numerous economic risks, Cook County has seen its bond rating upgraded three times, closed over $1 billion in preliminary gaps since the pandemic, continued to build up its reserves and developed hundreds of millions of dollars in equity fund and pandemic related programs all while putting forward balanced budgets with no increases to taxes on residents.
President Preckwinkle also noted that through the County’s careful management of taxpayer dollars, it is also able to implement a plan to continue providing pandemic services once federal funds are no longer available. This is being made possible through an ARPA reserve which has been an important step toward sustaining vital programs established during the height of COVID-19. This includes medical debt relief, guaranteed basic income, justice initiatives, violence prevention efforts and environmental projects.
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