What does Chicago’s city treasurer do?
The city treasurer keeps track of the city’s finances and serves as its banker. Here’s everything you need to know about the job.
By Tessa Weinberg
What does Chicago’s city treasurer do?
The city treasurer keeps track of the city’s finances and serves as its banker. Here’s everything you need to know about the job.
By Tessa WeinbergChicago has many layers of government. From the aldermen who make up the city council to the person in charge of the city stickers to the person everyone knows — the mayor. But what exactly are their responsibilities? WBEZ’s Tessa Weinberg has an overview of who the city’s voters elect every four years and what they do. Here’s what the city treasurer does:
Salary: $161,016 in 2023
Term: 4 years
What does the city treasurer do?
The city treasurer keeps track of the city’s finances and serves as its banker. They handle the city’s $9 billion investment portfolio along with the investments of the pension funds for police, firefighters, laborers, municipal workers and teachers.
The treasurer also helps promote financial education.
Why is this job important?
The city’s pension funds have been severely underfunded for decades. The city treasurer helps steer the funds’ financial health by handling investments and serving on the pension funds’ boards. They also play a role in helping secure the financial stability of the city and serve as a reflection of the city’s values in how it invests its money, such as banning investments in fossil fuels.