Measuring the Accuracy of Spending Projections, PICA's Fall Conference, October Board Meeting

Mind the Gap: Measuring the Accuracy of Spending Projections

In a June 2024 publication, PICA shared that Philadelphia performed better than most of its peer cities when it comes to predicting its annual revenues. But what about the City’s annual expenditures? As it turns out, Philadelphia is even better at accurately predicting its annual General Fund expenditures than its revenues and is the second most accurate of its peer cities!

Graphic generated with ChatGPT 4.0 and edited by Suzanne Staherski

Save the Date for PICA's Fall Conference - Oct. 29th @ 12PM

Intergovernmental Cooperation in a Post-COVID World

PICA Board Meeting: October 22, 2024 @ 12:15PM

The next PICA Board Meeting will be held on October 22, 2024 at 12:15PM. Members of the public are invited to attend either virtually, or in person at our Walnut Street office. Registration is open now! The agenda will be published one week prior to the meeting.

What We're Reading: Budgeting for Equity

Pew's recent report on Capital Budgeting in Philadelphia looks at Philadelphia's capital investments through an equity lens. Our takeaways:

• Philadelphia has been at the forefront of incorporating equity goals into its budgeting process.
• Despite these efforts, census tracts with the most potentially disadvantaged residents saw the lowest capital investment per capita, while tracts with the least potentially disadvantaged residents saw the highest capital investment per capita.
• Rebuild investments (which focus on local and neighborhood-scale infrastructure in high need areas) have been more equitable, with groups that had lower per capita investment than the citywide average faring much better with Rebuild investments.

The Government Finance Officers Association's Public Finance Journal published an article surveying approaches taken in local, state, and federal governments to use budgets as key tools to advance equity.

• Historically in the United States, public administrators have developed budgets driven by economy, efficiency, and effectiveness. In recent years, formal equity considerations have begun to drive budget decisions as well.
• The equity scoring process the City of Philadelphia uses in developing its annual operating budget is highlighted as an example of a local government implementing equity-oriented processes to achieve more equitable outcomes.
• For equity-based budgeting to work as intended:
• Elected officials and top administrators must see equity as a high priority.
• Lead budget offices must proactively use budgets to advance equity.
• Budget equity must become integral to the administrative routines of government.
• Budget staff and agency employees must be trained in and see the importance of equity.

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