Summary
PICA’s Staff Report on The Five-Year Financial Plan for FY95-99 details Philadelphia’s fiscal trajectory, evaluating revenue assumptions, expenditure priorities, and budget sustainability. It highlights financial pressures, including debt obligations, labor agreements, and public service funding needs. The plan incorporates strategies to mitigate budget deficits, emphasizing prudent tax policies and cost containment measures. Additionally, it outlines potential risks affecting long-term financial stability, recommending policy adjustments to sustain fiscal responsibility.