What does Philadelphia spend?

The Philadelphia Intergovernmental Cooperation Authority (PICA), the state board that's supposed to keep the city from spending money it doesn't have (while continuing to pay its bondholders and contractors, has issued this handy guide to the city budget: where $3 billion a year comes from - and where it goes, starting with half a billion each for police protection and retiree pensions. Check it out:

http://www.picapa.org/filestream.aspx?file=CitizensGuideBudget112011.pdf

Posted by Joseph N. DiStefano @ 2:11 PM Permalink | 4 comments

Comments

0 like this / 0 don't • Posted 3:02 PM, 11/23/2011

Education and Development - time for those folks to pick up those costs on their own. If you want to keep your job invest in your education otherwise replace the unmotivated employee with someone who actually understands it is their personal responsibility to ensure they are up-to-date. There are many educated people out of work today that already have the advance education necessary to do the job. Other fringe benefits - could be put toward social services and courts - who knows over time that may cut the court and prison system budgets

— Moving On

0 like this / 0 don't • Posted 8:20 PM, 11/25/2011

The big story in this document is how middle class Philadelphians bear a larger tax burden than citizens in most other cities. But hey, look how much we get for our money! A beautiful waterfront, reliable snow removal, crackdowns on property owners not paying their fair share or having blighted properties...oh, sorry, that's ANOTHER big city that has those things. Too bad the report can't quantify corruption and cronyism and how that affects the budget.

http://phunnyphilly.wordpress.com/

— InNane

0 like this / 0 don't • Posted 6:59 AM, 11/27/2011

ANNUAL pension payments increased from $200 million in 2003 to $550 million a year now. Wow.

And even that massive increase is not enough to pay for DROP and all the other benefits these criminal pols gave themselves and their union buddies. So the pension has gone from being 75% funded to 47% funded during the same time.

Why are Philly politicians still allowed anywhere near any taxpayers money? They are Jerry Sandusky of America's politicians.

They need a permanent restraining order from screwing taxpayers, preferably of the cement cell variety.

— samac

0 like this / 0 don't • Posted 11:45 AM, 01/18/2012

I think the deal that GM made with the unions and government to dislodge from their over burdening pensions was their salvation. It should serve as a model for all other companies and govenment entities to do the same or else corporations and governments will soon go broke under the weight of the pension plans and healthcare benefits they must pay.

— tombrookshire

4 comments

About Joseph N. DiStefano

Joseph N. DiStefano writes this blog to feed his PhillyDeals column in the Philadelphia Inquirer. Joe has been a member of Bloomberg LP’s New York Finance Team, wrote the book “Comcasted,” taught writing at St. Joseph’s University, and studied economics and history at Penn. Reach Joe at 215-854-5194 and JoeD@phillynews.com