News - Bill's Blog

Chicago’s annual financial report is late – again

July 1, 2019

State law requires the City of Chicago to publish audited financial statements within six months of the end of the fiscal year. June 30th has now come and gone, however, and Chicago hasn’t delivered the FY 2018 statements to its citizens.

This has been four years in a row, now, that this has happened. In the last two years, it took more than a week after June 30 to see those statements, at least publicly – even though they included dates on the “letter of transmittal” that were before June 30.

The report has taken on greater significance this year, with a new Mayor in office. In addition, it is worth noting recent developments such as the indictment of the alderman who served as former chair of the Chicago City Council Finance Committee, whose jurisdiction included financial reporting. 

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