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CEOs for CitiesFall National Meeting – October 17, 2012
Understanding City Fiscal Health
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pewstates.org
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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pewstates.org
Decline in State Aid
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pewstates.org
46 States Limit the Local Property Tax
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pewstates.org
Local Governments Shed Half a Million Jobs, 2008-2011
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pewstates.org
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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pewstates.org
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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pewstates.org
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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pewstates.org
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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pewstates.org
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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pewstates.org
Growth of Cities vs. Surrounding Metro Areas
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pewstates.org
About the American Cities Project
Find us on the web at: www.pewstates.org/cities
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pewstates.org/cities