Mayor William Peduto’s administration backs up letter with nearly 1,000 pages of supporting financial documents
PITTSBURGH, PA (Dec. 5, 2014) The City of Pittsburgh issued a 20-page response letter to the Intergovernmental Cooperation Authority Thursday with nearly 1,000 pages of supporting financial documents showing the sound assumptions behind Mayor William Peduto’s 2015 budget plans.
The communication represents one of the largest document releases to the ICA in the 10-year history of the board.
“Senior members of my administration have been reaching out to meet with each board member of the ICA to have productive conversations about the state of the city’s finances,” Mayor William Peduto said.
The letter provides a second round of answers to 25 questions the ICA forwarded about the City’s proposed 2015 operating and capital budgets, following a first set of City responses on Nov. 3, 2014. The City provided full answers to every question.
Under Act 11 of 2004, when considering City budgets the ICA board may only judge if they are balanced, based upon prudent, reasonable and appropriate assumptions; and if they comply with the City’s pending Act 47 recovery plan. Policy questions are outside of its legal jurisdiction when approving or disapproving budgets.
Following the City’s latest response to the ICA, its board has 15 days to vote again on the City’s 2015 budget proposals. Concurrently Pittsburgh City Council — which has ultimate legal authority over the City budget under the City of Pittsburgh Home Rule Charter and City Code — is scheduled to take its first tentative vote on the budget Monday, with a final vote set for Dec. 15.
A copy of Thursday’s letter is here. Supporting documents include:
Exhibit A: Finance Department Real Estate Millage Analysis
Exhibit F: Summary of 2015 Budget Adjustments
Exhibit G: 2014 YTD Revenues
Exhibit H: 2014 YTD Expenditures
Exhibit J: Copy of Parking Authority legislation submitted to City Council
Exhibit K: PNC Refunding Summary
Exhibit L: Debt Cliff Chart
Exhibit N: Pension MMO and Parking Deposits – 2014
Exhibit O: 2015 Operating Budget
Exhibit P: 2015 Capital Budget