PITTSBURGH, PA (October 1, 2019) The Peduto Administration has issued preliminary 2020 Operating and Capital budgets to Pittsburgh City Council, in advance of the full budgets due in November.
The $605.5 million operating budget contains no tax increases, continues record investments in paving and infrastructure, and continues record spending on police, fire and paramedics. It is balanced next year and through all years of the five-year forecast.
In agreement with financial reforms reached by the Mayor and City Council, the budget:
- Contains a general fund balance of 10% or higher of yearly budgeted expenditures in each year
- Contains sufficient funding for debt service payments
- Dedicates $14.5 million in PAYGO (Pay as You Go) that transfers to the capital budget
- Assumes a $50 million bond issuance in 2020 and each year after (2021 thru 2024)
- Contains an additional amount dedicated to the pension fund above the minimum municipal obligation (MMO)
During its years under state financial oversight the City was required to file preliminary budgets each September. While that state oversight has ended, the administration and Council agreed to keep issuing such tentative budgets each fall. As usual under City law, the official 2020 budgets will not be sent to City Council for its approval until the second week of November. Council then has until the end of the year to approve the budget plans.
An electronic copy of the preliminary operating budget is here and the preliminary capital budget here.
