Mayor Jim Kenney Announces $4.4 Billion Budget For 2018

Mayor Jim Kenney announced the city's proposed budget for fiscal year 2018, as well as the new five-year plan for the city.

The proposes budget stands at $4.4 billion, up by more than 5 percent from the 2017 budget, which was $4.2 billion, according to budget documents.

The two largest expenditures in the general fund are employee benefits ($1.3 billion) and police ($652 million).

Kenney's office said proposed investments into health and human service aim to strengthen the city's child welfare system and combating lead poisoning, opioid addiction, and homelessness.

Taxes overall in the city could go up 5.2 percent if the proposed budget is adopted. Proposed taxes for 2018 are projected to increase by $161 million according to budget documents.

You can peruse the city's budget online here with this interactive webpage.

Kenney also released the new Five Year Plan, which will focus on protecting the city's most vulnerable populations, increasing public safety citywide, running the government efficiently and effectively, improve economic opportunities for residents, move forward with initiatives funded by the beverage tax, focus on program-based budgeting, and maintaining a healthy fund balance.

You can see the whole Five-Year Plan online here.

"The $4.4 billion budget and Five Year Plan also seek to make Philadelphia stronger economically across the board by continuing the city’s reduction of wage and business taxes," Kenney's office said. "By Fiscal Year 2022, the resident wage tax is projected to be under 3.7% -- its lowest level since the 1970s. The Mayor also reiterated his commitment to pension reform, and is asking for Council’s partnership on a plan that would bring the Pension Fund to 80% funded in 13 years."

Image via Shutterstock