Revenues, Expenditures, and Fund Balance Higher

Than City’s Five Year Plan Projections

November 28, 2018 — The estimated year end fund balance for FY2019 is projected to total $248.4 million, according to PICA’s Staff Report on the City of Philadelphia’s Quarterly City Managers Report (“QCMR”) for the first quarter (period ending September 30, 2018), $108.9 million higher than projected in the City’s Five Year Plan (“the Plan”). General Fund revenues are projected at $4,654.2 million, and obligations are projected at $4,794.1 million, increases from the Plan of $37.3 million and $68.6 million, respectively. It appears that, once again, expenditures will outpace revenues in FY2019.

For the full report, click here.

For the accompanying press release, click here.

For past reports, click here.