Summary
PICA’s Staff Report on The Five-Year Financial Plan for FY15-19 assesses the City of Philadelphia’s fiscal position, providing an overview of projected revenues, planned expenditures, and budgetary risks. The report details financial challenges such as increasing pension costs, labor contract obligations, and economic uncertainties. It proposes strategies to strengthen the City’s financial health, including revenue enhancements, improved expenditure monitoring, and long-term debt management. The plan underscores the importance of fiscal discipline and structural reforms to ensure financial sustainability while maintaining essential public services.