Summary
This document lists news articles published in 2016 related to Philadelphia’s budget and financial management, with a focus on PICA’s evaluations of city operations. Key topics include excessive overtime spending, with Philadelphia exceeding its $135 million overtime budget by nearly $25 million in FY16, raising concerns about structural overspending in public safety departments. Another set of articles highlights PICA’s frustration with the city’s pension crisis, as the pension fund remained deeply underfunded despite efforts to improve contributions. A Financial Times article warns that Philadelphia must take proactive steps to avoid a Detroit-style bankruptcy, pointing to growing debt and pension liabilities. The document also links to articles discussing PICA’s push for better performance measurement in city agencies and an analysis of the Deferred Retirement Option Plan (DROP), which had cost Philadelphia over $1.2 billion since its inception. Overall, these articles reflect ongoing financial risks facing the city and PICA’s concerns about long-term budgetary sustainability.