Preckwinkle says the reduction in debt is due to reforms she's put into place and to the prioritizing of spending.
The total proposed budget for the next fiscal year is $2.3 billion.
In June there was a preliminary deficit of $152 million, but that has been eliminated.
And Preckwinkle says a big part of the budget swing is due to money the county is getting from Affordable Care Act.
"We provide a half a billion dollars in charity care every year, 500 million dolars in charity care, and as a result of the affordable care act we will get from the federal government about 278 million dollars in additional resources to make a real dent in the amount we're spending on charity care."
Preckwinkle says the county's revenue picture has also improved because of a more robust economy and increased tax enforcement.
