• Staff Report on the City of Philadelphia’s FY27-31 Five-Year Plan

    Stacked bar and line chart showing Philadelphia’s reserves declining sharply during the FY27–31 Five-Year Plan. Total reserves fall from 17.8 percent of General Fund revenue in the FY26 estimate to 6.4 percent in FY31, remaining below the GFOA-recommended level in every Plan year.
    Publication Date: July 28, 2026

    Category

    PICA Reports on Philadelphia's Five-Year Plan
    Staff Report on the City of Philadelphia's Five-Year Plan

    Author(s)

    Lucie Christian, Marisa Waxman, PICA, Rob Call

    File

    Download (PDF)

    Summary

    Philadelphia’s FY27-31 Five-Year Plan meets PICA Act standards, and continues the commitment to full funding of the Pension Fund and deposits into the Budget Stabilization Reserve and Labor Reserve. The City’s fiscal outlook remains vulnerable to operating deficits, reserve levels below GFOA recommendations, and uncertainty around federal funding, economic conditions, and labor costs. The Staff Report also highlights risks from budget blind spots and fiscal cliffs, particularly where major initiatives or expanded services rely on temporary, uncertain, or non-General Fund resources. PICA recommends that the City allocate additional reserves, improve transparency in the Capital Budget, pair major initiatives with fiscal sustainability plans, and preserve strategies that support long-term fiscal stability, including continued progress on pension funding.