Summary
PICA’s Staff Report on The Five-Year Financial Plan for FY97-01 provides a comprehensive evaluation of Philadelphia’s fiscal strategy, focusing on tax policies, labor costs, and capital investments. The report highlights concerns over structural budget imbalances and recommends measures to enhance financial stability. It also discusses the importance of economic development initiatives in supporting revenue growth and ensuring sustainable public service delivery. The plan outlines key policy interventions needed to address long-term fiscal challenges and maintain budgetary discipline.