City’s Revenue and Spending Increase in

First Quarter of FY2018

December 6, 2017—PICA’s Staff Report on the City of Philadelphia’s Quarterly City Managers Report (“QCMR”) for the first quarter (July 1 – September 30, 2017) shows the City’s General Fund revenue collections were $741.9 million, $45.5 million more than the first quarter of FY2017. General Fund obligations totaled $1.25 billion, an increase of $22.o million over the first quarter of last year. The QCMR projects revenues to increase for the full fiscal year, while obligations are projected to decrease due to lower than expected City employee benefits costs—more specifically, a $2.7 million reduction in employee disability costs.

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 by a similar amount.

For the full report, click here.

For the corresponding press release, click here.

For past reports, click here.