Fiscal Year 2012 Budget 175
The Budget Office begins the preparation of spreadsheets that include a 2-Year Spending History, a 2011 Year-End Forecast, Current
Headcount information and a Preliminary 2012 Budget containing 2012 economic assumptions for Salaries, Wages, FICA and
Retirement. The spreadsheets are prepared at Cost Center, Departmental and Authority levels.
The Budget Office sends out instructions with the spreadsheets to each Department requesting any new planning requirements,
initiatives, programmatic impacts, headcount changes or other assumptions that should be incorporated into their 2012 Departmental
The completed 2012 Departmental Budget Requests are returned to the Budget Office for review. These Departmental Requests are
then compared to the 2011 Budget, 2011 Forecast and the Preliminary 2012 Budget Plan. Year over year operational dollar impacts are
analyzed while making sure that detailed justifications are consistent with the Authority's goals and objectives.
The Budget Office presents the 2012 Departmental Budget Requests to the CFO for review. Financial impacts are discussed and the
CFO evaluates new requests based on the justifications provided by the department. Additional Departmental meetings may be
scheduled as necessary.
Meetings are held with Budget staff, Department Chiefs and the Executive Office to discuss and finalize the 2012 Departmental Budget
Requests. 9/12/11 - 9/15/11
A review meeting of the 2011 M&O and Capital Budgets is held with the Executive Director, Chief of Staff, CFO and Budget staff to
discuss any modifications to the 2012 Tentative Budget. 9/23/2011
Wilbur Smith and AECOM submit their Annual Toll Revenue Certificate and R&R Deposit Letter respectively for inclusion in the 2012
Tentative Budget Book. 9/30/2011
The Budget Office makes any changes to the 2012 Tentative Budget resulting from the meetings with the Executive Office. At this
point, the cross-checking process begins, to make sure all budget information is correct and up to date. 10/3/11 - 10/6/11
Charts, graphs, tables and narratives are prepared for the 2012 Tentative Budget Book. 10/6/11 - 10/10/11
The 2012 Tentative Budget Book is sent to the Communications Department for their review. 10/10/2011
The CFO, Chief of Staff, Executive Director and Chair do a final review and sign off on the 2012 Tentative Budget Book. 10/12/2011
The 2012 Tentative Budget Book is emailed to the Directors and Executive Management. 10/14/2011
As soon as the Budget Books are printed, they are mailed to the Directors for their review before the Board Meeting. 10/17/2011
The 2012 Tentative Budget is presented by the CFP to the FAO Committee 10/19/2011
The 2012 Tentative Budget is presented by the CFO to the Board of Directors. 10/27/2011
Any requested changes by the Board and Executive Management are incorporated into the 2012 Tentative Budget. 10/27/11 - 11/2/2011
Public hearings are held at Chicago Southland Lincoln Oasis and Central Administration for comments & questions concerning the
2012 Tentative Budget.
11/15/11 & 11/16/11
Comments & questions from public hearings were presented to the Board. 11/17/2011
The Budget Office reviews and incorporates any changes from the Board, Executive Management, or the Public. 11/17/11 - 12/12/2011
The 2012 Final Budget will be presented and then adopted by the Board. The 2012 Final Budget Book will be distributed at the Board
2012 BUDGET PLANNING CALENDAR
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