Cook County Board Finance Committee Meeting - July 15, 2026

The Finance Committee of the Cook County Board met on July 15, 2026, to consider a range of financial and procurement items. The meeting featured extensive public testimony from Chicago Public Schools (CPS) educators, union representatives, and business advocates, and resulted in key votes on a bridge loan program, a contract withholding ordinance, and a procurement code amendment.

Consent Calendar

• Approval of Minutes (Item 26-1943): Minutes from the June 2026 Finance Committee meeting were approved.
• Court Orders Report (Item 26-1834): Received and filed; totals $279,191.56 covering May 16–June 19, 2026. Special court cases and proposed settlements were approved.
• Quarterly Litigation Disbursement Report (Item 26-1867): Approved.
• Workers' Compensation Reports: Settlement decisions (Item 26-1872), claims payment for May 2026 (Item 26-1863, total $963,636.42), risk management settlements for June 2026 (Item 26-1900), patient arrestee claims for May 2026 (Item 26-1860, $4,927.37), self-insurance claims for June 2026 (Item 26-1861, $418), and claims recovery settlements (Item 26-1864, $56,906.67) were all approved.
• Controller's Report (Item 26-1935): Received and filed. The general fund had a favorable net budget variance of $314.9 million for the six-month period ending May 31, 2026. The health fund had a favorable variance of $82.5 million. The state of Illinois owed the county $94 million as of May 31, 2026. Federal grants canceled: $1.2 million, including $700,000 for the Chicago Land Solar Collaborative and $500,000 for underserved victims of crime.
• Cook County Health Report (Item 26-1605): Received and filed. Year-to-date health system favorable to budget by $82.5 million, with $99 million favorable revenue variance. Uncompensated care projected at $385 million, 5% higher than budget.
• Digital Equity Planning Initiative (Item 26-1758): Approved resolution.
• Sales Tax Revenue Bonds (Item 26-1574): Approved ordinance to issue up to $175 million in sales tax bonds to refinance the line of credit for capital spending. Bonds rated AAA (Kroll), AA+ (Fitch), and A3 (Moody's). Expected all-in yield ~4.7%.
• General Obligation Refunding Bonds (Item 26-1577): Approved ordinance to refund remaining principal on 2014C, 2016A, and 2018 GO bonds, generating ~$12 million in net present value savings. All bonds mature in 2034.

Public Comments & Testimony

• Trayvon Estee (citywide educator, CPS alumnus): Urged release of $400 million owed to CPS, noting that delayed property tax revenues force schools to hold fundraisers for basic equipment. He said athletics and extracurricular activities are critical for student engagement.
• Brenda Corbin (first-year special education teacher, Ida B. Wells Prep): Described being told her special education position would be cut, breaking a promise to her students. She pleaded for immediate release of $400 million to CPS.
• Elizabeth Lundine (second-grade CPS teacher, West Side): Spoke of disinvestment in schools without libraries, teachers, or nurses. She noted that cuts last year eliminated a 20+ year music educator and an interventionist, leading to increased behavioral issues. She urged release of $400 million and called on Governor Pritzker to hold a special session to tax billionaires.
• Dr. Linda Simmons (clinical social worker, CPS alumnus): Described telling parents at IEP meetings that schools cannot implement legally required services due to cuts. She stated that underfunding leaves children behind and urged the board to release $400 million and join the call for a special session.
• Cynthia Palomares (bilingual educator, Pilson community): Urged inclusion of CPS in the county's bridge loan program, noting that every dollar not spent on high interest can go to special education. She called for a special session to fully fund schools.
• Alex Rodriguez (middle school social studies teacher, CPS parent): Demanded release of $400 million owed to CPS, stating that other districts have access to interest-free loans while Chicago's black and brown students are denied. He also called for a special session to fully fund schools.
• Tanisha Higgins (math teacher, CPS alumnus, parent): Explained that delayed property tax distributions force CPS to pay millions in unnecessary interest costs. She said the math is simple: delayed funds mean borrowing costs increase and students lose. She urged release of funds.
• Ashley Harris (educator, lifelong CPS product): Criticized the county for withholding money owed to Chicago schools despite Chicago contributing more than half of Cook County's tax revenue. She asked why Chicago children are always the exception and called for a special session to fund students based on the state's evidence-based funding formula.
• Pavlin Jankov (director of research, Chicago Teachers Union): Called on the board to ensure all school communities are not harmed by property tax delays. He noted that delays have cost CPS over $40 million in interest costs alone last year, and $400 million in tax revenues are still being held up. He urged commissioners to vote no on the bridge loan ordinance unless it is amended to include CPS, and to demand release of all funds owed to schools.
• Ed Bannon (school board member, District 1A): Stated that the interest CPS pays due to delayed funding equals one staff person per day (e.g., librarian, social worker, teacher). He asked the board to vote no on the bridge loan program as currently written, urging amendment to include CPS. He also requested investigation into why already-collected property taxes have not flowed to CPS.
• Debbie Pope (retired educator, CPS parent, grandparent, Chicago Board of Education member, District 2B): Asked the board to amend the bridge loan program to include Chicago. She noted that CPS is losing $220,000 a day on short-term loans, and that cuts harm students with disabilities (IEPs) and recent immigrants. She also called for the state to fully fund public education.
• Hilario Dominguez (special education teacher, CPS graduate, father): Described the fear of layoffs among educators and staff as the school year approaches. He urged inclusion of CPS in the bridge loan program and called for a special session to fully fund schools.
• Mary Kay Minahan (Women Construction Owners & Executives, Association of Subcontractors and Affiliates): Opposed the proposed 10% contract withholding penalty (Item 26-1514) without industry input. She noted that payment and performance bonds already protect the county, and that the change would harm minority and women-owned businesses. She requested deferral for discussion.
• Jackie Gomez (Executive Director, Hispanic American Construction Industry Association): Opposed advancing the 10% withholding ordinance without industry input. She stated that a 30-day non-performance trigger is too short for construction (weather, inspections, change orders) and that a 10% penalty on small businesses operating on 3% margins would end their business. She requested deferral and a working session.

Discussion Items

• Bridge Loan Program (Item 26-1578): Deputy CFO Ashley Ramchantani presented the program to provide up to $300 million in no-interest loans to local taxing districts (municipalities, park districts, fire districts, schools, libraries) that rely at least 50% on property taxes. The program was originally limited to suburban Cook County, excluding Chicago. After public testimony, Commissioner Vasquez asked if CPS could be included. The administration stated they would explore options for inclusion. Commissioner Marita asked about additional funds to avoid pitting city against suburbs. The CFO will work simultaneously with the application window (July 20–August 24, 2026) to assess feasibility. The ordinance was approved with the understanding that inclusion of CPS is being explored.
• Retention Bonus Program (Item 26-1251): A substitute resolution updating the retention bonus pay program was accepted, then a motion to defer the item was approved (no further details in transcript).
• Contract Withholding Ordinance (Item 26-1514): Commissioner Degnan introduced a substitute ordinance to give the Chief Procurement Officer (CPO) authority to withhold or reduce payments by up to 10% on contracts over $3 million if vendors fail to perform. He argued it is a necessary tool to protect taxpayers, citing the Tyler contract as an example. Several business representatives (Mary Kay Minahan, Jackie Gomez) and commissioners (Marita, Vasquez) expressed concerns about impacts on small and minority-owned businesses and requested deferral for further discussion. Commissioner Lowry suggested a working session. Commissioner Degnan opposed deferral, stating the language was thoroughly researched. A roll call vote on deferral resulted in 10 ayes, 2 noes, 5 absent, so the item was deferred as substituted. Commissioner Lowry requested a State's Attorney opinion on whether the language constitutes a penalty or liquidated damages under Illinois law.
• Procurement Code Amendment (Item 26-1784): Commissioner Degnan introduced a substitute ordinance to amend Section 34-123, restoring board authority to vote on contract extensions and renewals. The 2024 code change had allowed the CPO to extend contracts without board input. The substitute was accepted and the item approved. Several commissioners commended the work, noting that board oversight is important for reviewing vendor performance, data privacy, and AI usage.

Key Outcomes

• Bridge Loan Program (Item 26-1578) approved with the administration committed to exploring inclusion of Chicago Public Schools. The application window opens July 20, 2026, and closes August 24, 2026.
• Contract Withholding Ordinance (Item 26-1514) deferred to September 2026 (as per written commitment) for further stakeholder engagement, particularly with minority and women-owned business associations. Commissioner Lowry requested a State's Attorney opinion on the legal nature of the withholding clause.
• Procurement Code Amendment (Item 26-1784) approved, restoring board authority to approve contract extensions and renewals.
• Retention Bonus Program (Item 26-1251) deferred after substitute acceptance.
• All consent calendar items, bond issuances, and financial reports approved.
• Several commissioners expressed support for CPS funding and vowed to work with the administration and state officials to address the $400 million delay and push for a special legislative session on education funding.