Breaking even

According to the most recent data from the Pennsylvania Intergovernmental Cooperation Authority, Philadelphia finished Fiscal Year ’10 (back in June) with a narrow operating surplus of just 600 thousand dollars.  As of the fourth quarter, the city had projected a much larger surplus of 60 million dollars, but a lack of tax revenue and help from the federal government combined to yield lower than expected totals for the city.

You can read PICA’s entire report here.