Summary
PICA’s Staff Report on The Five-Year Financial Plan for FY01-05 provides an in-depth review of Philadelphia’s financial strategy, projecting revenues and expenses while identifying key fiscal risks. The report discusses the city’s economic environment, workforce costs, and debt service obligations, outlining measures to maintain a balanced budget. Specific challenges include rising pension costs, uncertain tax revenue growth, and the need for targeted financial oversight. The document emphasizes efficiency improvements and the importance of long-term financial planning.