Title
Ordinance amending and supplementing the City Code at Title Two: Fiscal, Article I: Administration, Chapter 219: Operating Budget, Section 219.02: Five-Year Plan, in order to temporarily decrease the minimum fund balance requirements for fiscal years 2029, 2030, and 2031.
(Public Hearing scheduled for 12/10/26)
Body
The Council of the City of Pittsburgh hereby enacts as follows:
Section 1. The City Code is hereby amended and supplemented at Title Two: Fiscal, Article I: Administration, Chapter 219: Operating Budget, Section 219.02: Five-Year Plan, as follows:
§ 219.02 - FIVE-YEAR PLAN.
In addition to the requirements of Chapter 503 of the Home Rule Charter, the annual operating budget approved by Council shall also include a five-year plan.
(a) The five-year plan shall consist of the proposed budgetary year and a projection for revenues, expenditures, operating result and fund balance for the following four (4) years utilizing generally accepted forecasting methodology.
(b) The projected fund balance shall be minimally maintained at ten (10) percent through each year of the five-year plan with a target goal of between twelve and one-half (12.5) percent and sixteen and seven-tenths (16.7) percent with an optimum goal of sixteen and seven-tenths (16.7) percent. The percentage should be calculated by dividing the fund balance by total general fund expenditures for that fiscal year.
(c) For the 2027 Operating Budget only, the minimum fund balance requirement of ten percent (10%) shall be waived for fiscal years 2029, 2030, and 2031. This waiver shall expire on December 31, 2029. The purpose of this temporary waiver is to provide the City with sufficient time to implement measures to address its structural deficit.