Philly Stat Presentcondition 128 1

60 %
40 %
Information about Philly Stat Presentcondition 128 1
News & Politics

Published on February 9, 2009

Author: CityOfPhiladelphia

Source: slideshare.net

Description

A 19 page presentation from PhillyStat on Philadelphia's Present Condition made on January 28, 2009

philly.stat City of Philadelphia Philadelphia’s Present Condition Part 2 Date: January 28, 2009

Philadelphia’s Present Condition Agenda How the national economic crisis affects Philadelphia’s budget  Description about the major drivers of the Philadelphia budget 

Philadelphia’s Present Condition How the national economic crisis affects Philadelphia’s budget

How the national economic crisis affects Philadelphia’s budget When the national economy suffers, Philadelphia’s economy suffers US Economic Growth 2001 to 2010 8.00 6.00 4.00 Percent Change 2.00 0.00 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 -2.00 -4.00 % Change in Real GDP -6.00 4

How the national economic crisis affects Philadelphia’s budget When the national economy suffers, Philadelphia’s economy suffers Real GDP Growth compared to Philadelphia Total Tax Growth 8.00 % Change in Real GDP % Change in Real City Tax Receipts 6.00 4.00 2.00 Percent Change 0.00 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 -2.00 -4.00 -6.00 -8.00

How the national economic crisis affects Philadelphia’s budget As real estate market declines, so does the real estate transfer tax revenue Philadelphia realty transfer tax growth FY2000 to FY2010 80% 60.3% 60% 52.0% 51.4% 40% 29.7% Percent Change 31.0% 22.3% 20% 11.5% 10.0% 0.0% 0% FY 2000 FY 2001 FY 2002 FY 2003 FY 2004 FY 2005 FY 2006 FY 2007 FY 2008 FY 2009 FY 2010 -10.2% -20% -37.3% -40% -60% FY2000 to FY 2008 are actual; FY2009 and FY2010 are projected

How the national economic crisis affects Philadelphia’s budget Market forces determine pension performance Philadelphia Gross Pension Returns vs. Dow Jones Annual % Change 0.30 Gross Pension Returns Dow Jones Annual % Change 18.1% 0.20 15.9% 11.4% 10.3% 16.9% 0.10 5.7% 9.8% Percent Change -0.4% 4.9% 5.1% 0.00 -5.2% 2.4% -3.7% -5.5% -0.10 -13.8% -0.20 -17.0% -20.0% -0.30 -28.2% -0.40 June June June June June June June June Jan 2001 2002 2003 2004 2005 2006 2007 2008 2009 *Note: The pension fund invests in other items in addition to equities. 7

How the national economic crisis affects Philadelphia’s budget Breakdown of local tax revenue Other Real Estate Real Property Transfer 8% 5% 16% Business Privilege 14% 57% Wage, Earnings, Net Profits, PICA 8

How the national economic crisis affects Philadelphia’s budget Financial shortfall over 5 years FY09 FY10 FY11 FY12 FY13 FY14 $0 -$47 -$200 -$169 -$400 Millions -$472 -$600 -$667 -$800 -$871 -$1,000 -$1,042 -$1,200 Without corrective action, Philadelphia’s projected shortfall will continue to get worse 9

Philadelphia’s Present Condition Description about the major drivers of Philadelphia’s budget

Description about the major drivers of Philadelphia’s budget Funding Breakdown The total annual City budget for all funds in $6 billion FY ’09 Budget  Enterprise Funds: $926 million ̶ Grants/Community Development Funds: $1.1 billion ̶ Other Funds: $29 million ̶ General Fund: $3.9 billion  Discretionary = 41% ̶ Non-discretionary = 59% ̶ *as of November rebalancing plan ̶ The entire $1.04 billion shortfall in the 5 year plan is in the General Fund

Description about the major drivers of Philadelphia’s budget Pension costs have skyrocketed beyond health benefits, wages, and department costs 200% 180% 160% 140% Percent Change 120% 100% 80% 60% 40% 20% 0% FY 99 FY 09 FY 13 Wages Benefits Pensions Fire, Library, Recreation, and Fairmount Park Costs

Description about the major drivers of Philadelphia’s budget Losses driving the $1.04 billion shortfall in the 5-year plan Failure to achieve POB savings -12% Department operating deficits -12% -44% Tax revenue losses -32% Increase in pension payments 13

Description about the major drivers of Philadelphia’s budget The Big Six departments make up 49% of the City’s budget Police Department Other Departments 14% 24% Fire Department 5% Prison System 6% 3% Debt Service 3% First Judicial District 3% Streets Department 15% 24% Department of Pensions and 3% Human Services Benefits Department of Public Health 14

Description about the major drivers of Philadelphia’s budget The Big Six departments employ 76% of the City’s workforce Other Departments 24% Police Department 32% Department of 8% Human Services 8% 10% Streets Department 8% 10% Fire Department First Judicial District Prison System 15

Description about the major drivers of Philadelphia’s budget Benefits and Pensions make up 25% of all budget costs Salaries and Overtime 36% 39% All Other Expenses 13% 12% Benefits Pensions 16

Description about the major drivers of Philadelphia’s budget Pensions costs will continue to increase through the 5-Year Plan Project Pension Costs $650 Approved Plan (6/08) Rebalancing Plan (11/08) Current Projection (1/09) $600 $ Millions $550 $500 $450 $400 $350 FY09 FY10 FY11 FY12 FY13 FY14

Description about the major drivers of Philadelphia’s budget Other City Responses to Financial Crisis Seattle, WA $1 million in cut Chicago, IL Boston, MA from operating $500 million, or 8%, in costs in FY08 and $140 million shortfall for cuts FY09 real estate tax FY10, borrowing for revenue projections $600 million in capital down 40% projects postponed, one-year wage freeze San Francisco, CA for ALL employees, 15% $575 million cut across departments shortfall in FY09 and FY10 and $26.7 million in New York, NY cuts to the Health $5.2 billion shortfall in Department FY09 and FY10, 12% cuts across departments, 7% Los Angeles, CA property tax increase, tax $432 million shortfall in cuts delayed and 3,000 FY09 and cuts to core layoffs services like Public Safety, considering Atlanta, GA privatization of $140 million shortfall in services. Phoenix, AZ FY09 and approximately $270 million shortfall in 600 layoffs, including the FY09 and cuts ranging Fire Department Houston, TX from 15% to 60% in $200 million in departments Washington, DC infrastructure projects $258 million shortfall in postponed and plans to FY09 and elimination of 200 liquidate certain vacant positions 18 investments for capital

Description about the major drivers of Philadelphia’s budget Civic Engagement Dialog Sessions Thursday, February 12th:  St. Dominic's School Frankford Avenue near Benson Street, Holmesburg Wednesday, February 18th  Mastery Charter School, Pickett Campus, Wayne and W. Chelten Avenues, Germantown Thursday, February 19th  St. Monica's Catholic School, 16th and Porter Streets, South Philadelphia Monday, February 23rd  Pinn Memorial Baptist Church 54th Street near Woodcrest Avenue, Overbrook

Add a comment

Related presentations

Related pages

2014 Philadelphia Phillies Batting, Pitching, & Fielding ...

2014 Philadelphia Phillies. Batting, Pitching, & Fielding Statistics. ... /1: Wil Nieves: 36: 36: 128-4-0-0: 5: 2: 3: 0.3: 4: 7: 0.7.509.502: 0.1: 0.8: 2 ...
Read more

2008 Philadelphia Phillies Batting, Pitching, & Fielding ...

2008 Philadelphia Phillies. Batting, Pitching, & Fielding Statistics. ... 1.6: 1.28-0.8: 13.2: 128.502.502: $41,306,666: Name Age IP G GS R RA9 RA9opp ...
Read more

Philadelphia - Wikipedia, the free encyclopedia

... 8.0% of Philadelphia is Puerto Rican, 1.0% Dominican, 1.0% Mexican, 0.3% Cuban, and 0.3% Colombian. ... Philly.com. Philadelphia Media Network ...
Read more

S.E. PA. FOOTBALL STAT LEADERS - Philly.com

... Marple Newtown 3 59 595 10.1 198.3 9. ... Roman Catholic 3 19 385 20.3 128.3 2. ... Please note that comments are monitored by Philly.com staff.
Read more

mlb Matchup Report - stats.bet365.chalkpartners.com

Stat Rank Stat Rank; ... Philadelphia Phillies ; ... 128: 8: Adam Morgan: 4.1: Robbie Ray: Jun 16, 2016: TOR: 2-13: L: 121: 7.5: Aaron Nola: 3: J Happ:
Read more

Monster Jam - PHILLY HUSTLE HARD | Fantasy Basketball ...

Yahoo Sports Fantasy Basketball ... 1.000. 3. 6 .500. 17. 0. 1. 7. 0. 1. 3. 0. SG. New ... Week 15 stats may change when stat corrections are ...
Read more

PhillyStat PubProp Grp2 FY12Q3 ONLINE - Philadelphia

128 3 47 46 3 44 26 3 ... 1.2 Projects Substantially Completed, FY12 Quarter 3 Projects SubstantiallyProjects Substantially Project Cost Dept Completed in ...
Read more

PhillyStat Fleet FY12Q3 ONLINE - Philadelphia

Phase IPhase I Identifying Critical PositionsIdentifying Critical Positions 1/15/11 Complete Phase II Determine Core Competencies ... 128% 106% 85% 95% 90% ...
Read more