Summary
PICA’s Staff Report on The Five-Year Financial Plan for FY18-22 outlines Philadelphia’s fiscal priorities, detailing expected revenue trends, expenditure obligations, and key budgetary risks. The report evaluates economic factors affecting tax revenues and expenditure growth, proposing measures to enhance financial stability. Recommendations include pension reform, improved workforce planning, and efficient debt management to reduce fiscal strain. The plan underscores the importance of maintaining a strong financial foundation to support essential services while ensuring long-term economic sustainability.