Mayor Luke Ravenstahl presented the City of Pittsburgh's 2013 Budget and Five-Year Plan to City employees, members of City Council and community leaders, just days after he and community leaders petitioned state Act 47 coordinators to dissolve the City's "oversight" status.
And as we celebrate our City’s rebirth, we also chart the course for five more years of fiscal health. The proposed 2013 Operating and Capital Budget and Five Year Financial Plan contains no surprises. The financially responsible policies that have been the hallmark of City government will continue. The $470 million budget proposes no new or increased taxes, results in an operating surplus and carries a healthy, $50 million rainy day fund.
Since 2006, the City has made great financial strides. Despite an economic recession, the Mayor and City Council have balanced six consecutive budgets and saved for a rainy day without raising taxes. The City went under a “debt diet” and paid off over a quarter-million in past administrations’ debt. Financial agencies have taken note of the City's responsible management by awarding the City nine bond rating upgrades.
Office of Mayor Luke Ravenstahl
512 City County Building | 414 Grant Street
Pittsburgh, PA 15219
telephone: 412-255-2626 | facsimile: 412-255-2687