Committee on Finance meeting, February 9, 2026
- When: Mon, Feb 9, 2026, 10:00 AM (Chicago time)
- Where: City Council Chamber, 2nd Floor, City Hall, 121 North LaSalle Street - Chicago, IL 60602
- Status: Scheduled & Published
- Committee: Committee on Finance
- Video: https://vimeo.com/manage/videos/1161514473
- Transcript: full text (30,980 words, automatic captions)
Meeting notes
AI-written from the transcript. Speakers are inferred from cues in the recording, so treat names as estimates and check the video at the linked time.
The Committee on Finance held a subject-matter hearing on municipal deposit depositories, hearing presentations from the City Comptroller, Deputy Treasurer and several banking experts. A motion was approved to allow several alderpersons to participate remotely. The committee then heard a second subject-matter hearing on the city’s cash-flow situation and advanced pension payments, with a presentation by the acting CFO and extensive discussion of revenue timing and pension funding. One public comment was taken. The meeting was adjourned without any votes on the substantive items.
Topics: Municipal Deposit Depositories, Cash Flow and Advanced Pension Payments, Remote Participation of Aldermen, Banking Equity, CRA and Community Investment, Catalyst Fund
Agenda items discussed
- 25:35 Subject-matter hearing – Municipal deposit depositories: discussed
- 26:50 Presentation – City Comptroller & Deputy Treasurer on deposit depositories: discussed
- 27:23 Presentation – City Comptroller Mike Belsky on RFP process and bank selection: discussed
- 28:50 Presentation – Horatio Mendez, Woodstock Institute: discussed
- 1:34:45 Presentation – Anthony Simpkins, Neighborhood Housing Services: discussed
- 1:44:03 Presentation – Kevin Jackson, Chicago Rehab Network: discussed
- 1:49:04 Presentation – Ben Jackson, Illinois Bankers Association: discussed
- 2:23:39 Second subject-matter hearing – City cash-flow and advanced pension payments: discussed
- 2:26:33 Presentation – Acting CFO Steven Maher on cash-flow and pension funding: discussed
- 3:41:30 Adjournment of the Committee on Finance hearing: passed
Alderpersons who spoke
- Pat Dowell (chair): Acknowledged her presence as chair at the start of the meeting. (20:10); Called for a motion to allow remote participation of several alderpersons. (20:45); Announced the public-comment period would be limited to 30 minutes. (21:27)
- William Conway (chair): Identified as vice-chair confirming remote participation requests. (20:30)
- Nicholas Sposato (alderperson): Moved a motion to allow remote participation for several alderpersons. (20:48); Seconded a motion to allow Alderman Farrell to participate remotely. (25:01)
- Angela Clay (alderperson): Confirmed her remote participation after the motion passed. (24:53)
- Ronnie L. Mosley (alderperson): Asked about vacant properties and how depositories handle them. (36:36)
- William E. Hall (alderperson)
- Jason C. Ervin (public commenter): Outlined the mission of the Chicago Rehab Network and its role in community development. (1:44:03)
- Daniel La Spata (alderperson): Requested a point of information regarding the Department of Buildings’ list of vacant properties. (43:24)
Exchanges between members
- 24:53 Alderman Farrell confirmed with Chair Dow that she was connected remotely.