(Chicago Sun Times) — Mayor Daley closed the books on 2009 with just $2.7 million in the bank, having added $461 million to the mountain of debt piled on Chicago taxpayers, year-end audits show. As low as the unreserved cash balance is, it’s more than ten-times higher than the $200,000 the city had left after 2008.
The figure does not include dwindling long-term reserves generated by the parking meter and Chicago Skyway leases that Daley could tap once again to erase a projected $700 million shortfall.
Performed by the accounting firm of Deloitte & Touche, the audits provide a treasure-trove of information about city finances and operations.
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