April 9, 2009 (CHICAGO) --The city's new chief financial officer Gene Safford says the budget gap has grown to $51 million. Money from the sales and real estate transfer taxes are down. The city is taking a hard look at labor costs. "Personnel costs comprise more than 80 percent of our corporate budget and 90 percent of our employee are represented by unions to that end we continuing meeting with our union partners to work on potential solutions," said Gene Saffold, city's chief financial officer. Saffold would not say whether the budget can be balanced without layoffs. He expects to have more answers in a few weeks.
WEATHER ALERT Winter Storm Warning