Summary
PICA’s Staff Report on The Five-Year Financial Plan for FY22-26 (Revised Oct) presents a revised fiscal strategy for Philadelphia, reflecting updated economic conditions and budget priorities. The report reassesses key financial risks, including labor costs, pension obligations, and changes in state and federal funding. Revised fund balance projections account for adjustments in revenue and expenditure trends, ensuring the City maintains a balanced budget. The plan emphasizes fiscal discipline, responsible spending, and strategic investments to support Philadelphia’s long-term financial health.