Big changes expected from City Treasurer

In October, Mayor Emanuel appointed Kurt Summers, Jr. as City Treasurer, with responsibility for managing the City's $7 billion investment portfolio. Civic Consulting Alliance convened pro bono experts from the legal, financial, and consulting sectors to prepare a transition plan to guide the office's strategy.

Over a few short weeks, the team identified tens of millions of dollars in potential savings for the City. The team also identified several initiatives that could greatly increase the number of residents served by the City and accelerate the flow of investment dollars into Chicago communities.

The team's work included:

• Determining the statutory requirements for the Treasurer's Office
• Identifying best practices from other cities
• Evaluating the Office's current investment policy
• Assessing likely organizational needs
• Testing promising policy initiatives for impact and feasibility

Additional details can be found in the 90-Day Action Plan the pro bono team helped create.