CHICAGO -- Chicago could face an estimated $116 million shortfall in its corporate fund budget for fiscal 1993 due to pressure from the continuing recession, Karen Danczak Lyons, the city's budget director, said yesterday.

The city's corporate, or operating, budget for the fiscal year that begins Jan. 1 will have revenues of $1.64 billion, while expenditures will total $1.76 billion, according to the Office of Budget and Management's preliminary budget estimates.

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