Summary
PICA’s Staff Report on The Five-Year Financial Plan for FY99-03 examines Philadelphia’s financial trajectory, addressing concerns over revenue volatility, rising personnel costs, and long-term obligations. The report evaluates strategies for enhancing revenue collection, controlling expenditures, and improving budget efficiency. It also discusses the impact of external economic conditions on the city’s fiscal health and recommends measures to strengthen financial planning. The plan underscores the need for structural reforms to ensure Philadelphia’s economic competitiveness and fiscal resilience.