Creating Relief for Chicago’s Taxpayers by Increasing 2016’s Revenue Projections to $102m

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Office of the City Treasurer

Kurt A. Summers

For Immediate Release
August 19, 2016

Contact: Alexandra Sims
312-744-3363
alexandra.sims@cityofchicago.org


Treasurer Summers Announces Chicago’s Q2 Quarter Earnings Call
Creating Relief for Taxpayers by Increasing Revenue Projections to $102m

CHICAGO – Chicago City Treasurer Kurt Summers invites the public to join the Treasurer’s upcoming quarterly earnings call and live webcast Tuesday, August 23rd at 12 p.m. (CT).  The call will highlight the increase in the Treasurer’s investment revenue projections to $102m – far exceeding last year’s annual income. The quarterly earnings call promotes transparency and accountability and is a mechanism to share the financial performance of Chicago’s investment portfolio with taxpayers on a quarterly basis. The one-hour call and live webcast presentation will provide overviews of the national and local economies as well as the positive impact of investing in Chicago’s communities.

The Treasurer’s Office is proud to announce the doubling of investment returns for 2016.  By year end, the Office projects over $102m in investment earnings – more than double historical returns and far outpacing the original budgeted earnings amount.  These new dollars create more funding for the City’s bottom line and can be allocated to maintain key programs and decrease the City’s budget deficit.  These returns represent an additional $50m in unanticipated revenue generated without fees or taxes.

Join the call to hear Treasurer Summers, Chief Investment Officer Miriam Martinez, and guest speaker Tim Robinson, Ph.D illustrate the transformative steps the Treasurer’s Office took to improve performance and create revenue for all Chicagoans.

Participants can hear the call by phone or watch by computer after registering online. Those who register online will be able to view a PowerPoint presentation which can be used to follow along.  Questions are welcomed and can be typed-in during the presentation to be answered near the end of the call.

To register for the call, click here: https://attendee.gotowebinar.com/register/1121365897402193667

For any questions or help registering, participants can contact: city.treasurer@cityofchicago.org or call the Treasurer’s Office at 312-744-3356.

 

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