Summary
PICA’s Staff Report on The Five-Year Financial Plan for FY13-17 analyzes Philadelphia’s economic and financial outlook, providing projections for revenue growth, expenditure trends, and potential fiscal risks. The report highlights key budgetary challenges, including pension liabilities, debt service obligations, and workforce costs. To ensure fiscal sustainability, the plan outlines strategies such as tax base expansion, operational efficiency improvements, and prudent financial management. The report emphasizes the need for long-term fiscal discipline to maintain the City’s financial health while continuing to provide essential public services.