City Projects FY2018 Year-End Fund Balance Will Grow to $208 Million

 May 23, 2018— The City’s FY2018 year-end General Fund balance is projected to grow to $208.3 million, $131 million higher than projected in the City’s Revised Five Year Financial Plan, 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, 2018). The QCMR projects year-end revenues and obligations to increase, by $64.1 million and $37.2 million resepectively, compared to the projections found in the City’s Revised Five Year Plan. Additionally, the report shows actual revenues and obligations through the third quarter of FY2018 increased by approximately $230 million and $250 million, respectively, compared to the same period last year.

For the full report, click here.

For the accompanying press release, click here.

For past reports, click here.