A fiscal year is a 12-month period used for budgeting and financial reporting. The City’s fiscal year runs from July 1 to June 30.
For example, Fiscal Year 2026 will begin on July 1, 2025, and end on June 30, 2026.
The operating budget covers daily services and programs such as library services and building inspections. It also includes personnel costs such as salaries, pensions, and benefits for city workers.
Revenue refers to the funds collected by the City to support its operations during a fiscal year. There are four categories: taxes, locally generated non-tax revenue, intergovernmental revenue, and revenue from other funds.
Expenditures are the funds spent by the City during a fiscal year to carry out its operations.
Fund balance is the amount of money remaining in a fund at the end of the fiscal year after accounting for all revenues and expenditures.
Because this is your city and your budget, we are also sharing a few bills that were introduced earlier this month during the May 9 City Council session.
Among the approved legislation was #240665-AA, introduced by Councilmember Quetcy Lozada (7th District), which would regulate mobile vehicle service providers. The bill passed with a final vote of 13-3, with At-Large Councilmembers Kendra Brooks, Nicolas O’Rourke, and Rue Landau voting against it.
The bill allows services to operate in the PAD parking lot at 265 East Lehigh Avenue. Mayor Cherelle L. Parker’s administration, in partnership with Councilmember Lozada, may also establish additional service locations. Any provider violating this ordinance will be fined $1,000.
If Mayor Parker signs the bill into law, it will go into effect 60 days after being enacted.
Other bills approved recently include:
Bill #250065, better known as the POWER Act (Protect Our Workers, Enforce Rights). This legislation provides legal tools for Philadelphia’s Department of Labor to enforce local labor laws.
Bill #240581, which formally renames the Overbrook Park Branch Library, located at 7422 Haverford Avenue, Philadelphia, PA 19151, as the Robert A. Brady Library, honoring the dedication and service of the former U.S. Congressman and longtime chair of the Philadelphia Democratic Party, the Honorable Robert A. Brady.
Bill #240750, introduced by Councilmember Cindy Bass (8th District), renames the property commonly known as the Waterview Recreation Center, located at 5826 McMahon Street, as the Donna Reed Miller Recreation Center, in honor of the former Councilmember.
Bill #250067, authorizes the Commissioner of Public Property, on behalf of the City, to acquire from the Commonwealth of Pennsylvania a perpetual easement across land at the intersection of Southampton Road and Roosevelt Boulevard. The purpose is to allow for public roadway improvements and related work under certain terms and conditions.
All approved bills will now move to Mayor Parker’s desk to be signed into law or vetoed.
For more information about these and other bills, visit: https://phlcouncil.com
