The city treasurer is one of three elected city-wide officials, along with the mayor and the clerk. The treasurer manages the city’s bank accounts, as well as its pension and investment funds.
Snapshot: Appropriation & Staffing Changes from 2023 Budget
| 2023 Budgeted | 2024 Proposed | Net Change | Percent Change | |
| Appropriations | $5,712,960 | $5,980,903 | $267,943 | 4.7% |
| Positions & FTEs | 39 | 39 | $0 | 0.0% |
Departmental Highlights
- In the past two budgets, the treasurer’s office appropriation for wages and salaries has increased by nearly $1 million, with nine new positions added.
- Net headcount remained unchanged at 39 positions. Titles and roles have shifted significantly, however, with portfolio manager positions reduced from 11 to six, a new First Deputy City Treasurer title added, and the total number of Assistant to the City Treasurer positions increased from three to 11. The Assistant to the City Treasurer position is the same one that two former top aides accused the treasurer of filling with unqualified candidates and using to run personal errands on city time, an accusation the treasurer has denied.
- The professional and technical services appropriation has grown in recent years, more than doubling since the 2021 budget. Holding steady in the 2024 proposal, it remains the second-largest City Treasurer appropriation at $928,772.
- All Treasurer’s office appropriations either increased or remained steady, with no cuts in any appropriation accounts. Salaries and wages saw the largest increase, followed scheduled salary adjustments.
Historical Context
The treasurer’s office underwent leaps in budgeted appropriations and staff positions during Mayor Emanuel’s second term, and again in the last two years of Mayor Lightfoot’s administration.
In the past two budgets, the treasurer’s office appropriation for wages and salaries has increased by nearly $1 million, with nine new positions added. Over the same two years the office’s professional and technical services (outside contracting) appropriation roughly doubled, from approximately $469,000 in 2021 to $929,000 in 2023. The department also added new appropriations for reimbursement to travelers, students as trainees, and graphic services.
From 2011-2023, the department budget grew at an average rate of 12.4% per year. Departmental budgets overall increased an average of 5.9% per year over the same time period, while the total city budget including Finance General appropriations grew at an average rate of 8.2% annually.
The department’s budgeted workforce grew at a rate of roughly 5.9% annually from 2011-2023. Overall budgeted positions for the city remained relatively flat across the same time period, with minor year-to-year fluctuations averaging out to an overall growth rate of -0.04%.
Staffing
Net headcount remained unchanged at 39 positions.
Titles and roles have shifted significantly, however, with portfolio manager positions reduced from 11 to six, a new First Deputy City Treasurer title added, and the total number of Assistant to the City Treasurer positions increased from three to 11.
The Assistant to the City Treasurer position is the same one that two former top aides accused the treasurer of filling with unqualified candidates and using to run personal errands on city time, an accusation the treasurer has denied.
Appropriations
Largest Appropriations
Like most departments, the largest appropriations category in the Treasurer’s office budget is salaries and wages.
The professional and technical services appropriation has grown in recent years, more than doubling since the 2021 budget. Holding steady in the 2024 proposal, it remains the second-largest City Treasurer appropriation at $928,772.
Change from Previous Year
All Treasurer’s office appropriations either increased or remained steady, with no cuts in any appropriation accounts. Salaries and wages saw the largest increase, followed scheduled salary adjustments.
