West Cook News

Amid financial uncertainty at the federal level, Cook County Board President Toni Preckwinkle has presented the preliminary forecast for Fiscal Year 2026. The county anticipates a budget gap of $211.4 million across its General and Health Funds, which is a decrease from last year's $218.2 million gap and significantly lower than the pandemic peak of $409.6 million.

"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," stated Preckwinkle. She emphasized that nearly 15 years of hard work have positioned the county to address potential difficulties in upcoming years.

Despite economic risks, Cook County's bond rating has improved three times, over $1 billion in preliminary gaps have been closed since the pandemic began, reserves have been built up, and hundreds of millions of dollars have been allocated to equity fund and pandemic-related programs—all without increasing taxes on residents.

Preckwinkle also highlighted that careful management allows for continued provision of pandemic services even after federal funds are depleted. This includes medical debt relief, guaranteed basic income, justice initiatives, violence prevention efforts, and environmental projects.

The preliminary forecast report offers a mid-year projection for FY2025 revenues and expenses as well as an initial outlook for FY2026 for both major operating funds: the General Fund and Health Enterprise Fund.

For FY2025 year-end results in the General Fund show positive net results of $145.1 million due to factors like increased payroll expense savings from longer hiring timeframes and higher-than-anticipated sales tax revenue following a state-level loophole closure on out-of-state sales.

In FY2026, a budget gap of $102.6 million is expected in the General Fund with minimal revenue increases projected primarily from Sales Tax Revenue while expenses are forecasted to rise due to personnel costs inflationary impacts among others.

Meanwhile in Health Fund despite expecting year-end revenues exceeding budget by $61.8 million negative net results are anticipated driven largely by Illinois' elimination of Health Benefits for Immigrant Adults (HBIA).

For FY2026 an anticipated budget gap stands at $108.8 million within Health Enterprise Fund attributed mainly towards declining Net Patient Service Revenue amid reduced patient volume covered under Medicaid/Medicare post-HBIA elimination alongside resumed Medicaid redetermination process resulting fewer insured patients overall coupled rising claims expenses aligned per-member-per-month revenue growth plans related CountyCare members setup

Preckwinkle criticized proposed federal healthcare cuts which could adversely affect county operations warning such measures would exacerbate national debt issues while removing insurance coverage millions Americans favor tax breaks wealthiest earners

"Ever-shifting federal guidance threats drastic funding cuts impulsive decision-making vast economic implications general unpredictability new presidential administration creating stress state local budgets nationwide," she said "Despite irresponsible instability Washington D.C., county remains committed protecting people serves dedicated assisting residents providing vital services implementing smart budgeting working closely partners ensure efforts endure face many challenges."

A virtual public hearing on this preliminary forecast scheduled July 16th at 6 p.m where residents can provide testimony engage directly President’s office their budget priorities Livestreaming available via President’s office website Additionally beginning June18th citizens may access full document through www.cookcountyil.gov/Budget submit questions concerning proposal www.cookcountyil.gov/service/submit-budget-questions