PICA breaks down Mayor Parker’s first proposed Five-Year Plan, including projected fund balances, operating deficits, revenue growth, and new borrowing.

Key Stats:

  • The General Fund balance is expected to drop from $486M in FY25 to $14M in FY29, falling short of the City’s goal of 6-8% of revenues in four out of five Plan years.
  • Revenues are projected to grow by 6%, reaching almost $6.6B in FY29, while expenditures are expected to increase by 5% over 5YP.
  • The City anticipates an operating deficit in all years of the Plan.
  • New contributions to Budget Stabilization Reserve are expected to total $158M over five years.
  • The City is committing over $10B to capital projects over six years, of which $1.4B will be new General Obligation (GO) borrowing.

Read all the highlights here.