City of Philadelphia’s Projected Fund Balance for FY2017 $65.9 Million Higher Than Forecasted
General Fund Revenue $30.3 Million Higher Than Original Estimate
March 20, 2017—PICA’s Staff Report on the City’s Quarterly City Managers Report (“QCMR”) for the second quarter of FY2017 shows a General Fund year-end balance projected at $106.1 million, $65.9 million higher than the initial FY2017-2021 Five-Year Financial Plan (“Plan”). The report also shows General Fund revenue projected at $4.16 billion, an increase of $30.3 million from the Plan. The increase reflects higher-than-projected tax revenue of $18.9 million, and an increase in revenue from other governments of $9.0 million.
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