Summary
PICA’s Staff Report on The Five-Year Financial Plan for FY14-18 provides a framework for Philadelphia’s financial management, detailing revenue estimates, projected expenditures, and key fiscal challenges. The report examines long-term obligations such as pension liabilities, healthcare costs, and debt service payments, assessing their impact on the City’s ability to maintain balanced budgets. Recommendations include strengthening revenue collection, implementing expenditure efficiencies, and adjusting financial policies to mitigate risks. The plan also highlights the importance of maintaining reserves and planning for potential economic downturns to ensure the City’s long-term fiscal stability.