Chicago's Fiscal Framework: Inside Out

Annette Guzman serves as the City of Chicago’s Budget Director and heads the Office of Budget and Management. In this role, she is responsible for setting fiscal policies and directing the development and management of the City’s budget. 

Since her appointment in May 2023, Annette has been instrumental in closing critical budget gaps – most notably, eliminating a $982.4 million deficit in the FY2025 budget, which paved the way for a balanced $17.1 billion budget. Previously, as Budget Director for Cook County, she demonstrated exceptional leadership during the COVID-19 pandemic by overseeing the distribution of vital financial aid, including $428 million in CARES funding, over $200 million in FEMA aid, and $1 billion in American Rescue Plan Act (ARPA) funds. 

Guzman's public service career includes roles as Deputy Assessor in the Office of the Cook County Assessor, and Deputy Chief Administrator and Chief of Staff for the Civilian Office of Police Accountability. Prior to her public sector transition, she served as legal counsel to banking institutions and corporations at Sidley Austin LLP, holding a Juris Doctor (JD) from the University of Chicago Law School and a bachelor’s degree in English and Economics from Emory University. Guzman's multifaceted expertise and commitment to fiscal responsibility and operations optimization make her an asset in shaping governmental financial and operations strategies. 

When she is not navigating the complex fiscal landscape of the City of Chicago, Guzman dedicates her time to a rich tapestry of personal and community interests. Her commitment to the arts and civic engagement shines through her involvement on the Board of the Auditorium Theater, where she plays a vital role in shaping the cultural scene. Likewise, her dedication to creating a more equitable society is evident from her impactful contributions to the boards of Impact for Equity and Care for Friends, organizations that strive to make a difference in the lives of those they serve.

Jill Jaworski is the current Chief Financial Officer at the City of Chicago. Prior to her role with the City, she accumulated 25 years of experience in the realm of public finance,working as an investment banker, financial advisor, and consultant at PFM Financial Advisors, where she was a Managing Director and Partner. During her tenure at PFM,she established their Chicago financial advisory office in 2010, successfully expanding it from a solo operation to a fully staffed practice providing financial guidance to the City and its major sister agencies. Jill co-led the firm’s transit practice and with the Chicago team specialized in assisting transit agencies nationwide in securing grant funding and financing for large-scale projects.

Jill is also a dedicated board member of the Chicago Summer Business Institute (CSBI),an active member of the Society of Municipal Analysts, and has previously served as a board member on the Municipal Securities Rulemaking Board (MSRB).