Chicago Mayor Rahm Emanuel and Toni Preckwinkle, the president of the Cook County Board of Commissioners, announced that $33 million in savings were achieved in the first year of collaboration between the two localities on some services and initiatives.
More than 85% of the savings will recur annually.
"We are energized by the numbers we've achieved. Today's results show that the collaboration is on target to reach, and likely surpass, our initial goals," Preckwinkle said in a joint statement.
The city and county announced the collaboration last year with the goal of achieving $66 million in savings by the end of 2014.
The two governments are working together in areas such as workforce development, anti-violence initiatives, animal care and control and expanding broadband.