With legislation related to proposed H.O.M.E. Initiative borrowing set for introduction this week, it’s a good time for a refresher on how bond authorization works in the City of Philadelphia. When the City plans major long-term investments, it must obtain City Council authorization to borrow funds—though authorization does not automatically mean borrowing occurs immediately. Borrowing…

PICA’s Philadelphia Pension Fund Fact Sheet examines the City’s ongoing efforts to reduce its unfunded pension liability and stabilize pension costs. The report highlights that the City contributed nearly $833 million to the Pension Fund in FY24—four times the normal cost of benefits earned—while projecting the fund to reach 80% funding by FY29 and full funding by FY33.