City of Chicago enters contract with Ernst & Young to seek out cost savings

The City of Chicago has officially entered into a contract with the consulting giant Ernst & Young, with the goal of saving money and becoming more efficient.

The two-year deal would pay EY nearly $7 million.

Ernst & Young is now tasked with carrying out ideas from a cost-saving report it issued last fall. City officials said the firm's work will cover every city department, and will seek out ways to streamline operations and save money.

The 2025 report was a major issue during the city's recent budget battle.

The city's $16.6 billion spending plan went into effect without Mayor Brandon Johnson's signature in December, after the mayor and some alders clashed over such policies as a controversial corporate head tax that the mayor backed.