Summary
PICA’s Staff Report on The Five-Year Financial Plan for FY18-22 (Revised Sept) offers a revised financial outlook for the City of Philadelphia, integrating adjustments to projected tax revenues, expenditure obligations, and long-term financial commitments. The report highlights key financial risks, including labor contract negotiations, pension fund obligations, and changes in state and federal aid. Updated fund balance projections account for shifts in economic performance and expenditure trends, ensuring that the city maintains a balanced budget while continuing to invest in critical services and infrastructure. This revision reflects a commitment to fiscal responsibility, aligning budgetary decisions with long-term economic sustainability.