Third Quarter Revenues and Expenditures Almost $100 Million Higher Than Projected in Five Year Plan

FY2019 Fund Balance Projected at $280.0 Million

May 22, 2019 —FY2019 revenues are projected at $4.72 billion and expenditures are projected at $4.82 billion, according to PICA’s Staff Report on the City of Philadelphia’s Quarterly City Managers Report (“QCMR”) for the third quarter (period ending March 31, 2019). These estimates increased over the projections in the City’s FY2019-FY2023 Five Year Plan (“the Plan”) by $99.6 million and $98.5 million, respectively. The estimated year end General Fund balance for FY2019 is projected to total $280.8 million, $141.3 million higher than in the Plan. While both revenue projections and expenditure projections increased, it appears that expenditures will once again outpace City revenues in FY2019.

PICA’s Staff Report also identifies key management issues and tracks departmental performance for several City departments.

For the full report, click here.

For past reports, click here.