Olympics Side By Side
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Flores Proposal
Chicago 2016 Proposal
City Council oversight
Creates a City Council Olympic Oversight Committee to be cochaired by the Budget and Finance Committee chairs
Creates joint City Council committee of the Finance and Budget committees
Independent oversight
Empowers the Office of the Inspector General to audit and monitor the OCOG finances and progress for waste, fraud and mismanagement.
No mention.
Civic oversight
Incorporates a respected public interest organization to review all OCOG reports and provide advice to the City Council.
No mention.
Financial reporting
Requires quarterly disclosure of all expenditures (by the City and OCOG), revenue, donors and donations (both monetary and in-kind), construction costs, and contingency reserve funds, with actual vs. budgeted amounts.
“A financial report of the revenues and expenses of the Organizing Committee”, with actual vs. budgeted amounts. Financial forecasting of revenue, expenses and construction costs, with actual vs. amounts submitted to IOC.
Insurance policies
Requires the purchase of policies to protect against natural disasters, event cancellation and the loss of development financing.
Requires notification of any insurance policy that is bought, but does not mandate the purchase of insurance.
Contracting and subcontracting
Requires regular disclosure of all Requests for Proposals and Requests for Qualifications, bid tabulations and finalized contracts. All parties involved in contracts must be disclosed to the City Council at least five business days prior to being awarded the contract.
No mention.
Financial disclosure forms
Requires OCOG employees who make more than $50,000 and all Governing Board members to file statements of financial interest with the Chicago Board of Ethics.
No mention.
Method of disclosure
All information must be posted on the OCOG website in easily downloadable and machinereadable format.
No mention.
Flores Proposal
Chicago 2016 Proposal
Reports submitted to the IOC
All reports must also be submitted to the City Council.
No mention.
Compliance with the MOU
Requires regular reporting of compliance with the MOU signed between the Chicago 2016 Bid Committee and the Chicago 2016 Outreach Advisory Council.
No mention.
MBE/WBE reporting
Requires regular reporting.
Requires regular reporting.
Chicago 2016 Proposal
City Council oversight
Creates a City Council Olympic Oversight Committee to be cochaired by the Budget and Finance Committee chairs
Creates joint City Council committee of the Finance and Budget committees
Independent oversight
Empowers the Office of the Inspector General to audit and monitor the OCOG finances and progress for waste, fraud and mismanagement.
No mention.
Civic oversight
Incorporates a respected public interest organization to review all OCOG reports and provide advice to the City Council.
No mention.
Financial reporting
Requires quarterly disclosure of all expenditures (by the City and OCOG), revenue, donors and donations (both monetary and in-kind), construction costs, and contingency reserve funds, with actual vs. budgeted amounts.
“A financial report of the revenues and expenses of the Organizing Committee”, with actual vs. budgeted amounts. Financial forecasting of revenue, expenses and construction costs, with actual vs. amounts submitted to IOC.
Insurance policies
Requires the purchase of policies to protect against natural disasters, event cancellation and the loss of development financing.
Requires notification of any insurance policy that is bought, but does not mandate the purchase of insurance.
Contracting and subcontracting
Requires regular disclosure of all Requests for Proposals and Requests for Qualifications, bid tabulations and finalized contracts. All parties involved in contracts must be disclosed to the City Council at least five business days prior to being awarded the contract.
No mention.
Financial disclosure forms
Requires OCOG employees who make more than $50,000 and all Governing Board members to file statements of financial interest with the Chicago Board of Ethics.
No mention.
Method of disclosure
All information must be posted on the OCOG website in easily downloadable and machinereadable format.
No mention.
Flores Proposal
Chicago 2016 Proposal
Reports submitted to the IOC
All reports must also be submitted to the City Council.
No mention.
Compliance with the MOU
Requires regular reporting of compliance with the MOU signed between the Chicago 2016 Bid Committee and the Chicago 2016 Outreach Advisory Council.
No mention.
MBE/WBE reporting
Requires regular reporting.
Requires regular reporting.
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