Pittsburgh Case Study
Date
2013-09-01
Authors
Emmans, Sarah
Journal Title
Journal ISSN
Volume Title
Publisher
Center for State and Local Government Leadership, George Mason University
Abstract
Facing decades of structural budget gaps and unsustainable legacy costs, the City
of Pittsburgh entered two forms of state oversight in 2004. In the nearly ten years
since, the city has turned structural deficits into annual positive fund balances,
restructured its crushing debt load, streamlined an outsized government, and earned a triple-notch bond rating upgrade this summer. Still, with a $380 million pension liability, many doubt that Pittsburgh is ready to graduate from state oversight – especially given the extra relief from restrictive state laws that Act 47 provides to city officials. Meanwhile, a task force comprised of high-level state and local officials, labor leaders, and other stakeholders has convened to develop reforms to the laws -- including Act 47 – that affect communities’ fiscal sustainability.
Description
Keywords
Pittsburgh, Legacy costs, State oversight, Restructured debt