Summary
PICA’s Staff Report on The Five-Year Financial Plan for FY17-21 presents an in-depth analysis of Philadelphia’s budgetary landscape, addressing key fiscal concerns such as pension costs, labor expenses, and economic fluctuations. The plan evaluates revenue assumptions and expenditure forecasts to ensure they are aligned with the City’s financial goals. Key recommendations include managing debt obligations, strengthening pension funding, and enhancing revenue collection efficiency. The plan highlights financial risks that could impact long-term stability and outlines mitigation strategies to maintain fiscal balance throughout the five-year period.