The link to watch live and view the agenda is at this page: https://cook-county.legistar.com/MeetingDetail.aspx?ID=927528&GUID=6565A3AB-CA1B-4FB7-B93B-74625B6E41E9&Options=&Search= https://t.co/g9gVYBiuFY

The Independent Revenue Forecasting Commission (IRFC) is comprised of 4 ppl - the Cook County CFO (A. Rizki), two local academic economists (Dr. D. Merriman & Dr. P. R. Worthington), and a member of the public with expertise in public finance (K. Walker).

The last quarterly report to IRFC was 10/28/2021. The minutes from that meeting will be first approved and then the updates on the FY22 budget will be reviewed today. December 1st was the start of FY22.

While the budget is created and approved by the Cook County Board of Commissioners, this independent commission was created by an ordinance to develop and analyze the five-year consensus revenue forecast.

While waiting for the meeting to start, this is a helpful graphic from the last quarterly meeting of what the FY22 Total Budget Recommendation consists of: https://t.co/poeNN3LG2J

The meeting is underway and roll call has started.
Quorum reached.

Meeting minutes are approved and the agenda is brought up on the screen.

The Deputy CFO, D. Constantinou leads the meeting to start ou and provides the current goals the IRFC is working towards: https://t.co/zViv2OI7pN

For context, the Commission is responsible for evaluating and forecasting any new revenue sources proposed by the Board or President. Whether that’s cannabis tax revenue, fuel taxes, increases in property taxes, and other sources of tax revenues in a long dizzying list…

They provide an independent look at how the flow of revenue is budgeted and if that’s appropriate or not based on each commission member’s expertise.