City’s FY2018 Revenue Collections Increase by $127 Million Through Second Quarter
February 28, 2018— The City’s General Fund revenue collections totaled $1.58 billion through the second quarter, $127.4 million more than the over the same period in FY2017, according to PICA’s Staff Report on the City of Philadelphia’s Quarterly City Managers Report. The report also shows General Fund obligations totaled $2.01 billion, an increase of $45.5 million over last year. The QCMR projects year-end revenues and obligations to increase, by $50.8 million and $28.9 million respectively, compared to the projections found in the City’s Revised Five Year Plan.
Additionally, the City’s year-end fund balance for FY2017 totaled $189.2 million, over $100 million more than projected, thus, the City’s projection for FY2018’s year-end fund balance has increased to $203.3 million.
For the full report, click here.
For the corresponding press release, click here.
For past reports, click here.