FY25 Q4 QCMR Fact Sheet

The FY25 Q4 Quarterly City Managers Report (QCMR) projects increased General Fund revenues and increased spending compared to the approved FY25-29 Five-Year Plan, but a $46M decrease in revenues compared to Q3, with lower expectations from the Real Estate Tax and Sheriff fees. Overall, the City anticipates $384M more in revenue than FY24, driven by increases in Real Estate, Realty Transfer, and Wage Tax collections. In July, after the close of FY25 Q4, PICA approved the City’s FY26-30 Five-Year Plan.



The City projects spending $6.57B, $201M more than the FY25-29 Plan anticipated but a $47M reduction from Q3 expectations, deferring several items until FY26. The projected fund balance of $915M is $32.4M higher than Q3 projections, and $346M higher than the FY25-29 Plan. This improvement was enabled by a higher starting fund balance and higher revenues, even with additional spending compared to the FY25-29 Plan. 

Philadelphia has made significant progress toward fully funding its pension obligations, with reforms and contributions raising its funded ratio from 45 percent in FY16 to a projected 90 percent by FY30. The report explains how continuing on this path as planned could enhance credit ratings, lower long-term costs, and strengthen the City’s fiscal stability, particularly by reducing the long-term need for costly amortization payments. Aiming for anything less than full funding would risk reversing hard-won gains and increase future burdens on taxpayers, budgets, and essential City services.

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Next PICA Board Meeting is October 21, 2025, September Board Meeting Cancelled

The next PICA Board Meeting will be held on October 21, 2025 at 12:15PM in our office at 1500 Walnut Street, Suite 1600, Philadelphia, PA 19102 and online via Zoom. Registration is available below.

The meeting originally scheduled for September 16, 2025 has been cancelled.

$106 Million

www.picapa.org