Record #: SO2020-5902   
Type: Ordinance Status: Passed
Intro date: 12/16/2020 Current Controlling Legislative Body: Committee on Finance
Final action: 4/21/2021
Title: Amendment of Municipal Code Section 3-4-151 to require monthly publication by Department of Finance of corporate fund revenue collected by category, and remittance schedule of taxes imposed
Sponsors: Reilly, Brendan, Martin, Matthew J. , La Spata, Daniel , Villegas, Gilbert, Smith, Michele
Topic: MUNICIPAL CODE AMENDMENTS - Title 3 - Revenue & Finance - Ch. 4 Uniform Revenue Procedures
Attachments: 1. SO2020-5902.pdf, 2. O2020-5902.pdf





SECTION 1. Section 3-4-151 ofthe Municipal Code of Chicago is hereby amended by inserting the language underscored, as follows:


3-4-151 Additional duties ofthe department.


In addition to all other rights, duties and responsibilities imposed by this Code, the department shall have the following duties and responsibilities:


(Omitted text is unaffected by this ordinance)


E. The department shall publish a monthly report of revenue collected from all taxes imposed under this Code. Such monthly report shall include: (i) the total collections for each tax during the preceding month and the current fiscal year to date: (ii) the variance between expected and actual revenues pursuant to the applicable annual budget: (iii) the variance between the total collections for the current fiscal year to date and the preceding fiscal year for each tax; (iv) whether such taxes are remitted on a monthly, Quarterly, or annual basis; and (v) information showing the overall amount of taxes remitted and refunds issued for any estimated taxes remitted pursuant to Section 3-4-188. The department shall publish each monthly report reguired under this section at a prominent location on its website no later than the 10th day of each month. Within one business day after publishing the monthly report, the department shall notify the Mayor and the City Council of any deviation in the revenue collections from the projections in the financial plan and budget in excess of five percent.


SECTION 2. This ordinance shall take effect upon passage and publication.



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BRENDAN REILLY Alderman, 42nd Ward