Budget Deficit

Comptroller Michael Belsky will serve as Chicago’s acting CFO after Ashlee Gabrysch resigned, the city’s third CFO departure this year. The leadership change and $882 million deficit may affect purchasing schedules, spending priorities, and contractor cash-flow planning, but no specific procurement action or payment delay has been reported.

The Treasury Department reported a record $404 billion deficit for October 2026, as receipts fell 9% and outlays reached a record $773 billion. Military spending rose $28 billion, including increases across operations, maintenance, and procurement, but the report identifies no specific acquisition or contract opportunity.