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.

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City of Chicago City Hall at 121 N LaSalle St, where the city treasurer’s office is located.

Anthony Vazquez/Sun-Times file

Chicago has many layers of government, including the alderpeople who make up the city council, the person in charge of the city stickers and the person everyone knows about — 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:

City Treasurer

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 to reflect the city’s values in how it invests its money, such as banning investments in fossil fuels.

Learn more:

Tessa Weinberg covers Chicago government and politics for WBEZ. Follow her @tessa_weinberg.

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