ORDINANCE
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:
SECTION 1. Chapter 2-53 of the Municipal Code of Chicago is hereby amended by deleting the language struck-through and inserting the language underscored, as follows:
2-53-010 Establishment.
There is hereby established an office which shall be known as the City Council Office of Financial Analysis ("Office1"), and which shall include the Council Financial Analyst a Director, and such other assistants and employees as provided for in the annual appropriation ordinance.
2-53-020 Director - Appointment, term of office, and qualifications.
Upon a recommendation from the Chairman of the Committee on the Budget and Government Operations, and approval bv a vote of two-thirds of all members ofthe Citv Council, oversight committee established by this chapter, the council financial analyst the Director shall be appointed by a vote of two thirds of all the members ofthe city council to serve a four-year term.
The council financial analyst Director shall be appointed for a term of four years, but may be removed prior to the expiration of his term, at any time, with or without cause, by a two-thirds vote of all the members of the e City e Council.
The council financial analyst Director shall have, at minimum, the following minimum qualifications:
has a graduate degree in finance, economics, business or other relevant
field;
has experience in municipal finance, or substantially similar equivalent experience; and
has not been employed by the city for a period of three years prior to the date of his appointment; and
{4} has not been convicted of any no felony conviction under the laws of the state of Illinois, another state, or the United States.
No council financial analyst current Director or employee of the council e Office of financial analysis may, during his employment: (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 anv employee of the Office to the extent that it is inconsistent with anv law or regulation of the United States or the State of Illinois that preempts home rule.
2-53-030 Director - Powers and duties.
The council financial office and council financial analyst Director shall have the following duties and no others: to provide members of the e City e Council, through the Committee on the Budget and Government Operations, with:|1010|
a financial analysis ofthe Mayor's proposed annual budget a summary and analysis ofthe City's Comprehensive Annual Financial Report;
an annual budget options report of potential cost saving reforms and efficiencies;
a summary and analysis ofthe city's annual audit a financial analysis of the Mayor's proposed annual budget;
a review of proposed public-private partnership agreements or asset leases;
an annual a Quarterly report on the council financial o Office's activities, including a report of all fiscal impact statements that the Office prepared pursuant to subsection (h):
a review of the annual financial analysis budget forecast;
(Omitted text unaffected by this ordinance.)
(i) a quarterly report of all fiscal impact statement prepared in that quarter; and
{j) other financial analyses upon the request of a member of the Citv Council the Chairman of the Committee on the Budget and Government Operations.
2-53-035 Reports open to public inspection.
All reports, analyses, and statements issued bv 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 bv the Illinois Freedom of Information Act or anv other applicable law.
2-53-040 Access to e City records.
The council financial analyst Director is authorized to obtain such information, data, records, reports, and estimates,, and statistics from any officer, employee, department, agency, contractor, subcontractor and licensee of the e City, and every applicant for certification of eligibility for a 6 City contract or program, as the council financial analyst Director determines is necessary for the performance of his functions powers and duties.
It shall be the duty of e Every officer, employee, department, agency, contractor, subcontractor and licensee of the e City, and every applicant for certification of eligibility for a 6 City contract or program, has a duty to cooperate with the council financial analyst Director's reguests made pursuant to subsection (a), unless such materials are subject to attorney-client privilege in providing information relevant to any analysis or preparation of a report undertaken pursuant to this chapter.
The council financial analyst shall not be entitled to obtain records or documents which are protected by the privileges for attorney-client communications, attorney work product, or materials prepared for litigation. The Director shall have read-only access to the City's budget, financial, procurement, and related systems in order to export data and run reports.
{d) As soon as practicable, and upon reguest, the Director shall provide If reguested by an alderman, city official or department head, the council financial analyst shall provide, as
|1010|soon as practicable, to such person any information used in the preparation of any analysis, report or fiscal impact statement authorized by this chapter.
(e) All aldermanic briefings related to COFA Office reports shall be coordinated through the Chairman ofthe Committee on the Budget and Government Operations.
SECTION 2. Sections 2-53-050 and 2-53-060 of the Municipal Code of Chicago are hereby deleted in their entirety.
SECTION 3. This ordinance shall take effect following due passage and approval.
Pat Dowell, Alderman 3rd Ward
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