Chicago Treasurer Melissa Conyears-Ervin Unveils $318.7 Million in Taxpayer Earnings for Fiscal 2023

Earlier this week, City Treasurer Melissa Conyears-Ervin revealed that her office generated $318.7 million in returns for Chicago taxpayers during the 2023 fiscal year. Those earnings represent an 82% increase from the previous year and nearly triple the earnings recorded in 2021. “As City Treasurer, I am proud of how our team has produced these returns for Chicago’s taxpayers while managing the liquidity needs of the City of Chicago,” said Conyears-Ervin. “These earnings can help fund the services and programs needed to build strong, healthy communities and improve people’s lives.” Brian Berg, an official within the Chicago Treasurer’s Office, emphasized the critical role of liquidity. He stated that the money generated by the CTO is essential for the city to meet its financial obligations, whether it’s paying bills or investing in vital infrastructure projects. The returns result from the CTO’s management of Chicago’s $11.1 billion portfolio of cash, grants and other assets, which have increased by almost $2 billion since Conyears-Ervin took office. Highlighting the importance of diversity and inclusion in investment practices, Conyears-Ervin revealed that over 54.7% of the portfolio trades were executed with minority-owned businesses. This includes $2.3 billion with Hispanic-owned firms, $1.7 billion with Black-owned firms, $1.75...