The answer to what may be the Chicago political question of the year—how will Mayor Lori Lightfoot fill a huge hole in the 2020 city budget—will at least begin to arrive three weeks from now.

That’s when Lightfoot plans to deliver a major speech outlining what she’s concluded about the city’s financial status and outlining steps she’s actively considering to close the gap.

In an interview, the mayor told me the speech is set for Aug. 29 and in it she’ll review “available options” if not necessarily propose a final spending plan, which is not due until the early fall.

Lightfoot said her staff is looking at “three or four possible locations” to deliver the address, with the goal of speaking to a “City Club-like group.” Her reference was to the City Club of Chicago, which has a longstanding reputation for inviting in politicians of all ideologies and parties for detailed discussion of policy issues.

The mayor provided only limited detail of what she’s decided to do about filling the hole, which she previously has indicated is substantially deeper than the $740 million estimated by aides to former Mayor Rahm Emanuel.

Lightfoot said she’ll start by detailing ways in which she’s moved to cut spending. I’d look for that to include reductions in the city’s huge workers compensation system, which now has been brought under the mayor’s direct control after being run for decades by former City Council Finance Committee Chairman Ed Burke, 14th. Her plan also might include reduced overtime for police, which rapidly grew under Emanuel.

The mayor told me she’ll get “some help” from a big increase in city tax increment financing revenues, which according to Cook County Clerk Karen Yarbrough is up $181 million, to $841 million. But Lightfoot noted that much of that money already is committed to the Chicago Transit Authority and other projects, and that even if the city does declare a surplus it legally will be entitled to only about a quarter of the proceeds, with Chicago Public Schools getting most of the money.

Other hints came from the new Finance Committee chairman, Ald. Scott Waguespack, 32nd.

He tells my colleague A.D. Quig that Lightfoot’s financial team continues to talk about extending the sales tax to cover high-end services, such as law and accounting, though that would require enabling legislation from Springfield. Lightfoot also has talked about boosting the city’s real-estate transfer tax, and Waguespack said Emanuel’s idea of a pension obligation bond remains under discussion.

I don't yet know whether Lightfoot will answer the biggest budget question: Whether she'll seek a significant property tax increase after huge pension-related hikes under Emanuel.

Lightfoot already has delayed until the end of the month release of the city’s 2020 budget forecast, which usually sets the size of the expected hole and offers hints about filling it. Instead of just releasing that document and perhaps doing a quick press conference, Lightfoot apparently has decided on a more deliberative and thoughtful approach.