Summary
PICA’s Staff Report on The Five-Year Financial Plan for FY10-14 details the City of Philadelphia’s approach to managing financial challenges, including revenue collection strategies, expenditure controls, and long-term financial planning. The report evaluates major budgetary risks, such as pension liabilities, labor contract negotiations, and property tax revenue fluctuations, while proposing measures to enhance fiscal stability. Key recommendations include reforms in tax policy, workforce management, and expenditure efficiency to ensure sustainable financial health. The plan also emphasizes the importance of intergovernmental cooperation in securing financial support and regulatory approvals necessary for maintaining budgetary balance.