Overview
- The Johnson administration released the 2027 corporate-fund forecast on Thursday and put the gap at $882.4 million, down from earlier estimates above $1.1 billion.
- City officials said the improvement reflects stronger-than-expected local levies such as online sports wagering and the Personal Property Lease Tax plus department cost controls and planned bond refinancing.
- Spending pressures include roughly $400 million in anticipated settlements and judgments largely tied to police misconduct, $364 million in a supplemental pension payment, higher bond service costs and increased fuel and energy expenses.
- The forecast assumes the city will use about $330 million to $340 million in TIF surplus funds next year while many City Council-backed revenue ideas, including a planned debt sale, have not produced expected cash.
- Mayor Brandon Johnson plans to present a full budget in October that will press for progressive revenue measures and set the stage for a politically charged negotiation with the City Council before the year-end deadline.