For city leaders, the internal report one year ago was startling: Pittsburgh’s finances, despite the glowing claims of some elected officials, were on the brink of disaster.
Revenues were plummeting. Expenses were rising. Without a major course correction, the city could drain its bank account as early as 2027 — a threat it had not faced since the darkest days of state receivership decades earlier.
Mayor Ed Gainey’s administration pushed back hard against the dire predictions, and top officials promised they could weather what they referred to as the coming “lean years” without major changes to the city’s spending plans.
Read the full article on: The Pittsburgh Post-Gazette