CEOs for CitiesFall National Meeting – October 17, 2012

Understanding City Fiscal Health

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Source: Pew American Cities Project analysis of U.S. Census State Government Finance Database.

Two Major Sources of Local Revenue Decline in 2010

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Decline in State Aid

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46 States Limit the Local Property Tax

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Local Governments Shed Half a Million Jobs, 2008-2011

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Fiscal Profile Preview: Revenue

46.6%

4.2%

37.0%

6.6%5.6%

Boston Governmental Revenue Composition FY 2006

Property Tax

Sales Tax

Income Tax

Other Taxes

Intergovernmental Revenue

Charges and Fees

Other Nontax Revenues

56.4%

4.7%

28.5%

6.6%3.9%

Boston Governmental Revenue Composition FY 2010

Property Tax

Sales Tax

Income Tax

Other Taxes

Intergovernmental Revenue

Charges and Fees

Other Nontax Revenues

Source: Pew American Cities Project analysis of Boston’s Comprehensive Annual Financial Reports (CAFRs) FY 2006-2010

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Fiscal Profile Preview: Expenditures

2006

2007

2008

2009

2010

$0 $500,000,000 $1,000,000,000 $1,500,000,000 $2,000,000,000

San Antonio Governmental Expenditures FY 2006- FY 2010Public Safety

Social Services/Health

Housing/Development

Public Works/Transportation

Parks/Recreation

Education

General Government

Debt Service

Capital Outlays

Other

Expenditures

Source: Pew American Cities Project analysis of San Antonio’s Comprehensive Annual Financial Reports (CAFRs) FY 2006-2010

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Fiscal Profile Preview: Debt

2006 2007 2008 2009 20100.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

16.0%

18.0%

20.0%

Chicago – Debt Service Payments/Total Gov-ernmental Revenues

Source: Pew American Cities Project analysis of Chicago’s Comprehensive Annual Financial Reports (CAFRs) FY 2006-2010

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Fiscal Profile Preview: Reserves

Source: Pew American Cities Project analysis of Atlanta’s Comprehensive Annual Financial Reports (CAFRs) FY 2006-2010

2007 2008 2009 20100.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

16.0%

18.0%

20.0%

0.00

10.00

20.00

30.00

40.00

50.00

60.00

70.00

Atlanta – Unreserved General Fund Balance as a Percentage of General Fund Revenues

Unre

serv

ed G

ener

al F

und/

Tota

l GF

Reve

nue

Num

ber o

f Day

s City

can

Run

on U

nres

erve

d Ba

lanc

e

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Fiscal Profile Preview: Pensions

2006

2007

2008

2009

-$20,000,000.00 -$10,000,000.00 $0.00 $10,000,000.00 $20,000,000.00

$10,058,870.57

$10,903,004.00

$11,399,018.00

$11,393,189.00

-$15,303,854.10

-$15,738,902.00

-$16,275,097.00

-$18,336,595.80

Philadelphia - Funding Status of City Pension Plans

Assets

Liabilities

Percent Funded

62.1%

70.0%

69.3%

65.7%

Source: Pew American Cities Project analysis of Philadelphia’s Municipal, Public Gas Works, Redevelopment Authority, Public School Employee, and State Employees Retirement System Pension Plan documents.

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Growth of Cities vs. Surrounding Metro Areas

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About the American Cities Project

Find us on the web at: www.pewstates.org/cities

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