Mayor Johnson, here's some more money for you
And you don't have implement any taxes to get it
With City budget hearings beginning in about six weeks, it would be a shock if the $800 million in new revenue Mayor Brandon Johnson said he needed to implement his campaign promises that focus on social issues, is available.
At the onset, mayoral supporters, as well as detractors of his ideas, acknowledged to get the money from the sources he identified would require either Illinois General Assembly or Chicago City Council approval. Neither cohort has voiced a strong willingness to help.
About two months, this space was used to identify more than $1.6 billion Johnson could haul in without any outside approval. He could do so by mandating every department to cut their budgets by 10 percent. Public sector offices and agencies are historically known to go on spending sprees during the last quarter of a fiscal year in order to prevent their budgets being cut the next year. It is a use it or lose it mentality.
In addition to the 10 percent cut, the City could rake in milions more by meeting vendors’ policies. The majority of vendors ask to be paid within 30 days of finishing work or submitting an invoice. They also stipulate they will discount the total amount due anywhere from 1-2.5 percent. The amount depends on the vendor.
Chicago spends approximately $1 billion every year among the 6,000 registered vendors. One need not be a mathematician to see there are millions of dollars to be gained by taking advantage of the early payment option those vendors offer. Even if the City had to hire two or three people to ensure payments are expedited, it would be worth it in the long run; and the mayor would have more than enough to implement his pet projects, and maybe add a couple.