2-53-010 Establishment.

   There is hereby established an office which shall be known as the City Council Office of Financial Analysis ("Office"), which shall include a Director, and such other assistants and employees as provided for in the annual appropriation ordinance.

(Added Coun. J. 12-11-13, p. 72260, § 1; Amend Coun. J. 10-16-19, p. 7101, § 1)

2-53-020 Director – Appointment, term of office, and qualifications.

   (a)   The Director shall be appointed upon a recommendation from the Chairman of the Committee on the Budget and Government Operations, and approval by a vote of two-thirds of all members of the City Council. The Director shall serve until their successor is appointed and qualified in accordance with this section.

   The Director may be removed at any time, with or without cause, by a two-thirds vote of all the members of the City Council, including by the approval of the Director’s successor in accordance with this section.

   (b)   The Director shall have, at minimum, the following qualifications:

      (1)   a graduate degree in finance, economics, business or other relevant field;

      (2)   experience in municipal finance, or substantially similar equivalent experience; and

      (3)   no felony conviction.

   (c)   No current Director or employee of the Office may: (1) hold, or become candidate for, any other elective or appointed public office except for appointments to governmental advisory boards or study commissions or as otherwise expressly authorized by law; or (2) actively participate in any campaign for any elective office. This subsection (c) shall not apply to the Director or any employee of the Office to the extent that it is inconsistent with any law or regulation of the United States or the State of Illinois that preempts home rule.

(Added Coun. J. 12-11-13, p. 72260, § 1; Amend Coun. J. 10-16-19, p. 7101, § 1; Amend Coun. J. 5-22-24, p. 11737, § 1)

2-53-030 Director – Powers and duties.

   The Director shall provide members of the City Council, through the Committee on the Budget and Government Operations, with:

   (a)   a summary and analysis of the City’s Annual Comprehensive Financial Report;

   (b)   the mid-year report required under Section 2-53-050;

   (c)   a financial analysis of the Mayor’s proposed annual budget;

   (d)   a review of proposed public-private partnership agreements or asset leases;

   (e)   a quarterly report on the Office’s activities, including a report of all fiscal impact statements that the Office prepared pursuant to subsection (h);

   (f)   a review of the annual budget forecast, which must be delivered to the City Council no later than 30 days after the Director receives the proposed annual budget;

   (g)   an analysis of rating agency actions;

   (h)   a fiscal impact statement for all ordinances that propose to: (i) add, eliminate, increase or decrease the amount of any line item(s) in the annual appropriation ordinance for a given year, following the passage of that annual appropriation ordinance, but excluding grant funds, if the change of the appropriation is greater than $1,000,000; or (ii) sell or lease any City asset, including revenue streams from that asset, if the anticipated revenue from the sale or lease of the asset is greater than $15,000,000; provided, however, that this subsection (h) shall not apply to any ordinance concerning a proposed contract, asset or transaction subject to Chapter 2-164 or Chapter 2-165;

   Any fiscal impact statement issued pursuant to this subsection (h) shall include a statement as to the immediate impact and, if determinable or reasonably foreseeable, the long-range impact, of the proposed ordinance on City finances.

   Any member of the City Council may, with the approval of the Chairman of the Committee on the Budget and Government Operations, request an expedited 48-hour turnaround of a fiscal impact statement subject to this subsection (h); provided, however, that the Chair shall provide written notice of the denial of any such request, including the reasons for such denial.

   A fiscal impact statement shall be presented to members of the City Council at least 72 hours prior to a vote by the City Council which would adopt any ordinance described in this subsection (h). Each fiscal impact statement must include an explanation of the reasoning, including all assumptions involved in arriving at any dollar estimate. No comment or opinions (editorial) shall be included in any fiscal impact statement regarding the merits of the proposed ordinance for which the fiscal impact statement is prepared; provided, however, that technical or mechanical defects in the proposed ordinance may be noted in the fiscal impact statement.

   (i)   other financial analyses upon the request of a member of the City Council.

(Added Coun. J. 12-11-13, p. 72260, § 1; Amend Coun. J. 5-25-18, p. 77754, § 1; Amend Coun. J. 10-16-19, p. 7101, § 1; Amend Coun. J. 12-16-24, p. 22879, Art. VI, § 5)

2-53-035 Reports open to public inspection.

   All reports, analyses, and statements issued by the Office shall be posted on the Office’s website and open to public inspection, except to the extent that information contained therein has been redacted because it is exempted from disclosure by the Illinois Freedom of Information Act or any other applicable law.

(Added Coun. J. 10-16-19, p. 7101, § 1)

2-53-040 Access to City records.

   (a)   The Director is authorized to obtain such information, data, records, reports, estimates, and statistics from any officer, employee, department, agency, contractor, subcontractor and licensee of the City, and every applicant for certification of eligibility for a City contract or program, as the Director determines is necessary for the performance of his powers and duties.

   (b)   Every officer, employee, department, agency, contractor, subcontractor and licensee of the City, and every applicant for certification of eligibility for a City contract or program, has a duty to cooperate with the Director’s reasonable requests made pursuant to subsection (a), unless such materials are subject to attorney-client privilege, attorney work product, and material prepared for litigation; provided, however, that any denial of such requests shall be made in writing and include the reasons for such denial.

   (c)   Each member of the Office shall have read-only access to all of the City’s budget, financial, procurement, and related systems in order to export data and run current and historical reports. Upon the request of a member of the City Council, the Director shall provide copies of any such reports within a reasonable time period from the request. With regard to any aldermanic request to review any data, the Director shall schedule a briefing to review the requested data. If the Director receives an aldermanic request to share any such data with an outside person or entity, the Director must first arrange for such person or entity to execute with the City a data-sharing agreement that is in form and substance approved by the Corporation Counsel.

   (d)   As soon as practicable, and upon request, the Director shall provide an alderman, city official or department head, any information used in the preparation of any analysis, report or statement authorized by this chapter.

   (e)   All aldermanic briefings related to Office reports shall be coordinated through the Chairman of the Committee on the Budget and Government Operations.

(Added Coun. J. 12-11-13, p. 72260, § 1; Amend Coun. J. 10-16-19, p. 7101, § 1; Amend Coun. J. 12-16-24, p. 22879, Art. VI, § 6)

2-53-050 Mid-year budget report.

   In addition to the reports and analyses required under Section 2-53-030, the Director shall provide members of the City Council, through the Committee on the Budget and Government Operations, with a report containing the below information on or before July 30 of each year:

   (a)   an annual budget options report of potential cost saving reforms, new funding and revenue sources, and efficiencies;

   (b)   a summary of compliance with the City’s minority-owned and women-owned business enterprise programs, the disadvantaged business enterprise program, and other certification eligible business participation programs, including both utilization numbers and payments to certification eligible subcontractors, expressed as a percentage of the total costs of the applicable contract for the previous fiscal year;

   (c)   an overview of recent trends in municipal finance, with comparative studies and analysis, as appropriate; and

   (d)   an analysis of vacant positions carried over from one fiscal year to the next, overtime costs of the previous fiscal year compared to the appropriated funds for overtime, and any applicable workforce allocation studies.

(Added Coun. J. 12-16-24, p. 22879, Art. VI, § 7)

Editor’s note – Coun. J. 10-16-19, p. 7101, § 2, repealed former § 2-53-050, which pertained to establishment of council office of financial analysis oversight committee.

2-53-060 Reserved.

Editor’s note – Coun. J. 10-16-19, p. 7101, § 2, repealed § 2-53-060, which pertained to council office of financial analysis oversight committee functions.