Philadelphia closed the 2025 fiscal year with a $1.19 billion fund balance — the largest in the city’s history, Mayor Cherelle Parker said Tuesday.
The fund balance, shown in the city’s annual finance report, can be attributed to higher tax revenues, lower personnel costs and the use of COVID-19 funding, the Parker administration said, adding that the surplus leaves the city in a strong position to weather uncertainty about state and federal funding.
“While we are pleased to have the highest fund balance in the City’s history, we know we will need those dollars to help handle the risks we face,” Budget Director Sabrina Maynard said in a statement…