CHICAGO — Already struggling with a growing shortfall in its 2009 budget, Chicago officials offered a dim view of revenue collections expected in the next year as they warned of a looming $520 million gap in next year’s $6.2 billion budget.

The deficit warning came yesterday from the city’s chief financial officer, Gene Saffold, who released preliminary 2010 budget figures, an annual summer announcement that launches Chicago’s process of fashioning a budget for the next calendar year.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.