On his first full day in office Tuesday, Mayor Rahm Emanuel announced $75 million in savings to the City’s budget for fiscal year 2011. Mayor Emanuel has pledged to get the City’s fiscal house in order by implementing cost-saving measures. “These $75 million worth of immediate savings to the 2011 budget are only the beginning,” said Mayor Emanuel. “They pave the way to a leaner budget for the 2012 fiscal year. And they also send an unmistakable message: I am committed to stabilizing the City’s finances in order to secure Chicago’s long-term economic future.” Mayor Emanuel’s plan calls for reductions of the City’s current budget in the following ways:

• Cut Senior Management Payrolls – $5.5 million
  Require commissioners to reduce senior management payroll by 10 percent.
  Commissioners will be able to realize savings either by lowering salaries or reducing number of senior staff positions.
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  Merge Overlapping Functions Across Departments – $3.5 million
  Consolidate finance, IT, procurement and HR functions across City Departments. This process has already begun with merger of the Fleet Management and General Services Departments.
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  Freeze All Non-Essential Contract Spending – $17.5 million
  Pool procurement requirements to buy in bulk in collaboration with the County and other government agencies; freeze non-essential contracts.
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  Rationalize and Reduce Vehicle Programs- $1.5 million
  Reduce the number of vehicles maintained by the City and replace more of the aging fleet with fuel-efficient vehicles to realize additional energy savings.
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  Return 60 Laborers to Work – $0.5 million
  Expand return-to-work program by bringing 60 injured employees back on the job in less physically demanding roles.

For a complete list of budget cuts, visit www.cityofchicago.org.