Title
Authorizing the Committee on Fiscal Stability and Intergovernmental Cooperation to hold quarterly hearings that include monthly reporting requirements, to discuss the fiscal position and overarching social impact goals of the City, including and as related to the Five-Year Plan and the reporting requirements set forth in the Quarterly City Manager's Report ("QCMR") and as submitted to the Pennsylvania Intergovernmental Cooperation Authority ("PICA").
Body
WHEREAS, The City Council of Philadelphia is preparing to pass a dramatically reduced annual budget with increases to the parking tax and non-resident wage tax during the COVID-19 crisis. These steps, necessary to secure a balanced budget in line with the rules as set forth by the Home Rule Charter, place further financial burdens on our already struggling tax base in the upcoming 2021 fiscal year; and
WHEREAS, The City has increased spending by nearly $1 billion over the last four years without demonstrating measurable progress towards publicly-stated goals. The budget hearing process was set in a virtual environment and expedited due to necessary revisions reflecting the unprecedented COVID-19 crisis and subsequent economic downturn. Under these circumstances, residents and taxpayers may pay the price for a lack of transparency around spending, performance, and impact in this fiscal year; and
WHEREAS, At the onset of the COVID-19 pandemic City Council appropriated necessary funds for the management of the crisis and established a biweekly reporting requirement to review the spending of those funds. Council also created a City Council budget workgroup to improve and realign the Administration's proposed FY2021 budget with City Council's collective priorities; and
WHEREAS, City Council anticipates receiving additional financial support from the Federal CARES Act, the proposed HEROES Act, and allocations from the Commonwealth of Pennsylvania. Council must be prepared to make further decisions regarding the...
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