The Chicago Department of Finance: What You Need to Know - Explore blend (2024)

The Chicago Department of Finance: What You Need to Know - Explore blend (1)
The Chicago Department of Finance

The Chicago Department of Finance is the city’s agency responsible for managing and overseeing the city’s finances, revenues, and expenditures. The department provides various services and programs for the residents, businesses, and visitors of Chicago, such as tax collection, utility billing, parking and red light tickets, payment plans, and more. In this article, we will explore some of the key functions and features of the Chicago Department of Finance, and how you can access and benefit from them.

What does the Chicago Department of Finance do?

The Chicago Department of Finance has several divisions and offices that perform different tasks and roles, such as:

  • The Revenue Division collects and administers various taxes and fees, such as sales tax, amusem*nt tax, hotel tax, vehicle sticker fee, and more. It also issues business licenses and permits, and enforces tax compliance and regulations.
  • The Utility Billing and Customer Service Division handles the billing and collection of water, sewer, and garbage fees for residential and commercial customers. It also provides customer service and assistance for billing inquiries, disputes, and adjustments.
  • The Administrative Hearings Division conducts hearings and adjudicates violations of various city ordinances, such as parking and red light tickets, building code violations, animal care and control violations, and more. It also offers online and in-person payment options, payment plans, and hardship programs for eligible violators.
  • The Accounting and Financial Reporting Division prepares and publishes the city’s financial statements, reports, and budgets, such as the Comprehensive Annual Financial Report (CAFR), the Annual Appropriation Ordinance (AAO), and the Annual Financial Analysis (AFA). It also maintains and reconciles the city’s general ledger, accounts payable, and accounts receivable.
  • The Debt Management Division manages and administers the city’s debt portfolio, which includes various types of bonds, notes, and loans. It also oversees the city’s credit ratings, debt service payments, and debt issuance and refunding.
  • The Risk Management Division administers the city’s self-insurance program, which covers various types of claims and losses, such as workers’ compensation, general liability, property damage, and more. It also provides risk management and loss prevention services and training for city departments and employees.
  • The Treasury Division manages and invests the city’s cash and funds, such as the Corporate Fund, the Water Fund, the Sewer Fund, and more. It also provides banking and cash management services for city departments and agencies.

How can you access and benefit from the Chicago Department of Finance?

The Chicago Department of Finance provides various ways for you to access and benefit from its services and programs, such as:

  • The Chicago.gov/finance website is the official website of the department, where you can find information, forms, and resources on various topics, such as taxes, fees, licenses, permits, tickets, utility billing, payment plans, and more. You can also pay online for various items, such as water bills, parking and red light tickets, business taxes, and more.
  • The City of Chicago Department of Finance letter is a letter that the department sends to customers who have outstanding balances or issues with their accounts, such as overdue water bills, unpaid parking and red light tickets, delinquent business taxes, and more. The letter provides information on how to resolve the issue, such as paying online, requesting a hearing, applying for a payment plan, or contacting customer service.
  • The City of Chicago Department of Finance phone number is the main phone number of the department, which is (312) 744-3353. You can call this number to speak with a customer service representative, who can assist you with various questions and issues, such as billing inquiries, payment options, account status, and more. You can also use this number to access the automated phone system, which allows you to pay for various items, such as water bills, parking and red light tickets, business taxes, and more.
  • The City of Chicago tickets are tickets that the department issues for various violations of city ordinances, such as parking and red light violations, building code violations, animal care and control violations, and more. You can pay for these tickets online, by phone, by mail, or in person. You can also request a hearing, apply for a payment plan, or seek a hardship program if you are eligible.
  • The City of Chicago Department of Finance change service requested is a form that the department requires customers to fill out and submit when they want to change their service, such as starting, stopping, or transferring their water service, or updating their account information, such as name, address, phone number, or email. You can find this form on the department’s website, or request it by phone or mail.
  • The City of Chicago finance water bill is the bill that the department sends to customers who use the city’s water and sewer services. The bill includes various charges and fees, such as the water usage charge, the sewer usage charge, the garbage fee, and the water-sewer tax. You can pay for this bill online, by phone, by mail, or in person. You can also request a billing adjustment, dispute a charge, or apply for a payment plan if you are eligible.

Conclusion

The Chicago Department of Finance is an important and useful agency that manages and oversees the city’s finances, revenues, and expenditures. It provides various services and programs for the residents, businesses, and visitors of Chicago, such as tax collection, utility billing, parking and red light tickets, payment plans, and more. You can access and benefit from these services and programs through various channels, such as the department’s website, phone number, letter, and more. The Chicago Department of Finance is here to help you with your financial needs and obligations in the city.

FAQs

What is the biggest employer in Chicago?

The biggest employer in Chicago is the federal, state, and local government, which employs about 12% of the city’s workforce, according to the U.S. Bureau of Labor Statistics. The government sector includes various agencies and departments, such as the Chicago Public Schools, the Chicago Transit Authority, the Chicago Police Department, and the Chicago Department of Finance.

Who is the CFO of the City of Chicago?

The CFO of the City of Chicago is Jennie Huang Bennett, who was appointed by Mayor Lori Lightfoot in 2019. She is responsible for overseeing the city’s financial operations, budget, debt, and investments. She also serves as the city’s treasurer and comptroller. She has over 20 years of experience in finance, management, and consulting.

What is Chicago best known for?

Chicago is best known for its rich and diverse culture, history, and attractions. Some of the things that Chicago is famous for are:

  • Its architecture, such as the Willis Tower, the John Hanco*ck Center, the Cloud Gate, and the Navy Pier.
  • Its food, such as the deep-dish pizza, the Chicago-style hot dog, the Italian beef sandwich, and the popcorn mix.
  • Its sports, such as the Chicago Bulls, the Chicago Bears, the Chicago Cubs, and the Chicago Blackhawks.
  • Its music, such as the blues, jazz, gospel, and house music.
  • Its museums, such as the Art Institute of Chicago, the Field Museum, the Museum of Science and Industry, and the Shedd Aquarium.
  • Its festivals, such as the Taste of Chicago, the Chicago Jazz Festival, the Chicago Blues Festival, and the Lollapalooza.
The Chicago Department of Finance: What You Need to Know - Explore blend (2024)

FAQs

What is Chicago known for in Finance? ›

Chicago's financial hallmark is that it is the headquarters of major commodity, futures, and options exchanges. The Chicago Board of Trade (CBOT) and the Chicago Mercantile Exchange (CME) are the world's two largest futures exchanges. The Chicago Board Options Exchange is the world's largest stock options exchange.

What does the Chicago Department of Finance do? ›

Our core mission includes collecting our revenues, paying our bills, administering payroll and benefits to City employees, and preparing our financial statements, among other duties.

What is the City of Chicago financial help? ›

Our emergency financial assistance program, called the Emergency Fund, provides critical financial assistance to people experiencing, or at risk of, homelessness or another serious emergency. We quickly provide payments on a person's behalf for things like rent, utilities, or transportation.

Who is the chief financial officer of the City of Chicago? ›

Jill Jaworski - Chief Financial Officer - City of Chicago | LinkedIn.

Is Chicago a big finance city? ›

The top global financial cities are New York City, London, Singapore, Hong Kong, and San Francisco, as determined by the GFCI 34 rankings. Other important financial centers around the world include Shanghai, Frankfurt, Zurich, Tokyo, and Chicago.

What is Chicago best known for? ›

Some of the many things Chicago is famous for are: Chicago-style hot dogs, Chicago-style (deep dish) pizza, Maxwell Street Polish Sausage, jazz music, and 1920s gangsters, for example Al Capone. Chicago is also known for architecture, for example the Sears Tower and museums. It is also known for its loyal sports fans.

What is the main function of the finance department? ›

The primary functions of the department are accounting and reporting, accounts receivable, accounts payable, payroll, cash receipts, cash management and investments.

Is Department of Finance federal? ›

The Department of the Treasury (USDT) is the national treasury and finance department of the federal government of the United States, where it serves as an executive department.

What does the finance department do in a city? ›

Finance is the Treasurer-Tax Collector of the City.

Finance is the custodian of all money deposited in the City Treasury and all securities bought by the City, which involves building investment strategies that mitigate downside risk and capturing upsides from the market.

What is the $500 per month assistance program in Chicago? ›

Chicago Empowerment Fund

Once the program launches, eligible Chicagoans can apply and will be selected through an open application and a city-wide lottery to receive $500 per month for twelve months, with no strings attached.

Who is in charge of funding in Chicago? ›

Notice of Public Hearing and Comment

The Office of Budget and Management (OBM) manages, monitors, and enforces the grants management process by working with City departments to ensure the City of Chicago is utilizing all available federal and state funding as well as meeting compliance and reporting requirements.

What is the financial district in Chicago? ›

The financial district is located in the Chicago Loop and is centered on LaSalle St with the best part from Adams St to its end at the Chicago Board of Trade at Jackson Blvd.

What does the City of Chicago Department of finance do? ›

The Department of Finance is responsible for revenue collection, utility billing, tax and parking enforcement, administering employee payroll, benefits and safety; risk management and accounting and financial reporting.

Who is the CEO of Chicago Capital? ›

OnionManaging Director & CEO.

Who is the boss of the CFO? ›

The CFO typically reports to the chief executive officer (CEO) and the board of directors and may additionally have a seat on the board.

Is Chicago a good place for finance? ›

Chi-town is one of the best cities for finance jobs because it combines a healthy economy with affordable inner city and suburban home rental options.

What type of business is Chicago known for? ›

Manufacturing, printing, publishing, insurance, transportation, financial trading and services, and food processing also play major roles in the city's economy.

Is there a financial district in Chicago? ›

The financial district is located in the Chicago Loop and is centered on LaSalle St with the best part from Adams St to its end at the Chicago Board of Trade at Jackson Blvd.

What is Chicago known for career wise? ›

Fintech, healthtech, IT, and software are just a few specializations that the Windy City now includes in its ever-growing business ecosystem. With companies and startups reshaping numerous industries, Chicago has firmly established itself as a major force within the global economy.

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