CITY of PITTSBURGH FISCAL OUTLOOK Councilman William Peduto, Finance Chair Pittsburgh City Council December 12, 2008.

Slides:

Advertisements

Similar presentations

April 12, 2012 USW – Local 1998 Toronto, Ont Alex D. McKinnon.

Advertisements

City Finance Update Operating and Capital Budgets April 5, 2011 Post Agenda Councilman William Peduto, Finance Chair.

2011 Budget Presentation Mandate to Mission City Council William Peduto, Finance Chair Bill Urbanic, Council Budget Director January 11, 2011.

State Fiscal Outlook NSAA June 12, 2013 California Scott Pattison Executive Director National Association of State Budget Officers 444 North Capitol Street,

Saint Louis Public Schools December 2008 Monthly Financial Report December 2008 EXECUTIVE SUMMARY FISCAL YEAR Financial Report December 2008.

Metropolitan Transportation Authority July 2008 Financial Plan MTA 2009 Preliminary Budget July Financial Plan 2009 – 2012 DJC.

Metropolitan Transportation Authority November Financial Plan November 17, 2010.

Council Conversations August 16, 2012 Government Relations.

Priority Planning Session March 11, Priority Setting Session Overview FY 2011 – How did we get here – Historical Review – Business Plan – BAR –

Budget 2010: Some Perspectives on Resource Availability over the MTEF Len Verwey, Idasa.

Debt Affordability Committee 1 Debt Affordability Committee August 15, 2013.

General Fund Five Year Forecast

Fiscal Year Budget Overview Citizen Academy September 3, 2013 Citizen Academy September 3, 2013.

Budget Strategy Presented by Mayor Don Ness To the Duluth City Council June 9, 2008.

Issuance of the Series 2014 Capital Projects Revenue Bonds John W. Lawson Chief Financial Officer April 16, 2014.

Asheville Regional Airport/City of Asheville Fire Station Feasibility Study Public Safety Committee June 25, 2012.

FY 2009 First Quarter Update & Economic Impacts on the City’s Budget December 8, 2008.

City of Miami PROPOSED Fiscal Year 2009 BUDGET. 2 Budget Focus To prepare a structurally balanced general operating budget. To provide a budget, which.

Paramus Public Schools 2010 – 2011 Budget Public Hearing Presentation Ms Shelia Criscione, Board President Mr. Anthony Balestrieri, Chairman, Finance Committee.

General Fund Budget Calendar Review Niagara Falls City School District Budget Cynthia Bianco Superintendent of Schools Tim Hyland Rebecca Holody.

Council Tax Support Ray Bowmer, Head of Finance Parish Council Liaison Meeting 30 October 2013.

Lora Duzyk Assistant Superintendent, Business Services.

LAO California’s Budget Woes: How Is Our Fiscal Health? Legislative Analyst’s Office Randall Lewis Seminar Series University of California,

Solanco School District Preliminary Budget April 28, 2014.

Participants Fiscal relations between levels of government are a high priority on the political agenda of most OECD and non OECD countries. Sub-central.

Second Interim Board of Trustees March 17,

State Fiscal Outlook: Minnesota and the Nation One Minnesota January 9, 2013 Scott Pattison Executive Director National Association of State Budget Officers.

City Manager’s Proposed Budget for Fiscal Years 2010 and 2011 City Council Budget Hearing June 08, 2009.

CITY OF MONROE FISCAL YEAR BUDGET PRESENTATION EDWARD SELL, FINANCE DIRECTOR.

Form of Government 1 Responsibilities of the Strong Mayor drafted by the City Attorney’s Office December 2010.

Montgomery County Government: Organizational and Fiscal Structure Jennifer Hughes, Director Office of Management and Budget September 21,

Montgomery County Government: Organizational and Fiscal Structure Jennifer Hughes, Director Office of Management and Budget October 15,

1 Fixing Pittsburgh’s Finances Robert P. Strauss Professor of Economics & Public Policy The Heinz School, CMU

2013 Budget Proposal Overview Rev. Ricky Burgess, Finance Chair City Council Budget Office Bill Urbanic, Director November 27, 2012.

2006 Budget Challenges Additional Increases in Pension Contributions = +$451,200 Additional Assessment from RVSA = +$315,000 Increases in Fuel and Utility.

TOWN OF CHESTER PROPOSED BUDGET PUBLIC HEARING MAY 1,2013 TOWN MEETING MAY 21,2013.

City Finance Update III Pittsburgh’s Financial Future April 19, 2011 Post Agenda Councilman William Peduto, Finance Chair.

Board of Selectmen Fire department Police department Other Finance Committee Municipal Budget School Committee Finance Buildings Other Sub-Com. School.

2010 Budget Bill Peduto, Finance Chair City Council Budget Office Bill Urbanic, Director December 21, 2009.

Detroit budget crisis: Workers face big blow to benefits BY SUZETTE HACKNEYSUZETTE HACKNEY Detroit Free Press April 10, 2011.

Superintendent’s Budget Presentation for Providence School Board April 9, 2012.

The Budget Process. The Phases Information Gathering Information Gathering Department Requests Department Requests Financial Projections Financial Projections.

AUGUST BUDGET WORKSHOP NO FISCAL YEAR PRELIMINARY BUDGET Innovation will serve to keep the plan in the forefront of all that we do. Our.

Albuquerque, New Mexico, Open and Ethical Elections Code Madison Wisconsin Blue Ribbon Committee on Clean Elections April 16, 2009.

City Budget and Tax Levy 27 Jan 2014 This Power Point Presentation is a working draft. It may contain information that upon further revue and research.

CITY OF MONROE FISCAL YEAR BUDGET PRESENTATION EDWARD SELL, FINANCE DIRECTOR.

SunSatFriThursWedTuesMon January

DSU Revised Budget Mahbubur Rahman Vice President (Finance & Operations) 18 November,2015.

December 2, 2008 City of Glendale - Finance Department 1 First Quarter Financial Update December 2, 2008.

LAO California’s Fiscal Outlook Jennifer Kuhn Director, K-12 Education Legislative Analyst’s Office April 15,

City Finance Update Pittsburgh’s Financial Future April 12, 2011 Post Agenda Councilman William Peduto, Finance Chair.

West Contra Costa Unified School District April 13, Budget Update Board Meeting.

BUDGET 101. Learning Objectives Better understand the budget process Become familiar with the roles of staff, the City Manager, and City Council.

Financial & Budget Outlook City Council Strategic Planning Retreat March 19, 2012 Pueblo, Colorado.

Budget Presentation January 14, 2015 Agenda Review Estimated Actual Results Review Budget Timeline Review Preliminary Budget.

CITY OF DEKALB CITY OF DEKALB 2015 Property Tax Levy Presented to Finance Advisory Committee October 27, 2015.

STRATHCLYDE PENSION FUND ANNUAL GENERAL MEETING 14 JUNE 2013.

April 28, 2015 Measure “C” Citizen Oversight Committee.

Public Hearing: Fiscal Year 2017 Recommended Operating Budget City Council Meeting, May 9, 2016 Item 7.

Presented By: Budget & Research Department FY STATUS REPORT & THREE-YEAR FINANCIAL FORECAST SUMMARY (FY )

2016 Draft Budget Special Committee of the Whole January 11, 2016

Pension Obligation Restructuring

City of Pembroke 2007 Budget

TENTATIVE BUDGET SUMMARY

FY st Draft Budget Administration & Finance Committee Municipal Water District of Orange County February 14, 2018.

Texas’ Retired Employees Obligations: Case Study – City of Houston

2010 Draft Budget.

General Fund Fiscal Outlook

Adoption of the Fiscal Year 2019 Recommended Operating Budget

Fiscal and Economic Issues Discussion Group

Presentation transcript:

CITY of PITTSBURGH FISCAL OUTLOOK Councilman William Peduto, Finance Chair Pittsburgh City Council December 12, 2008

Operating Result -$17,590,523

Operating Result +$17,752,159

Operating Result +$36,728,395

Operating Result +$22,680,253

Operating Result +$19,234,435

Operating Result +$3,440,087

Deficit Returns

Flat Lines Fund Balance Depleted

PAYGO Gone?

PAYGO Capital Budget Funding gone in 2012 Structural Deficit Returns in 2014

PENSION CRISIS

Distribution of Liability -$524 Million $93,827 per member $34,378 per member

According to University of Pittsburghs Chris Briem Police Fund negative by March 2012 – Fire Negative by June 2014

The Pension Problem The economic market may remain flat for the foreseeable future State contributions to pension fund may decrease as more municipalities start to draw on the states fixed pool of revenue Low interest rates that safe bonds are offering may push down future expected returns and push up required contribution levels

The Future Pay as you Go Capital Ends – 2011 Reserve Plans Depleted – 2013 Deficit Spending Returns – 2013 Police Pension Funds Depleted – 2011 Fire Pension Funds Depleted

2009 – 2014 New 5-Year Plan to Solvency Restructure City Government Statewide Pension Reform Statewide Municipal Healthcare Regional Government Consolidation Fair Payments In Lieu Of Taxes Regional Revenue Sharing

Next Steps Now - Council Budget Director meets with Mayor's Budget Director, Controller's Representative, Act 47 and Oversight Board to review Act 47 initial draft January 09 - Act 47 submits initial plan to Council. Council begins full budget hearings on the five year plan January 09 – February 09 -Televised budget hearings and public hearings March 09 - Council debates recommendations to five year plan and approves a series of amendments to the plan by March 25th April 09 - Act 47 submits final plan to Council May 09 - Council votes on the plan June 09 – Plan is ready for Mayors signature