Official:Amending Title 19 of The Philadelphia Code, entitled "Finance, Taxes And Collections," by creating a Rainy Day Fund to cushion the impact of unanticipated declines in City revenues; providing for the circumstances under which City monies must be deposited into the Rainy Day Fund and the circumstances under which expenditures may be made from the Rainy Day Fund; and providing for the custody and management of the Rainy Day Fund; all under certain terms and conditions.
Sponsor: Councilmember Kenney
Introduced: June 14, 2001
Voted: June 6, 2002
: Committee on Finance
Status: Lapsed
This bill aims to create a 'Rainy Day Fund' to help Philadelphia manage unexpected drops in city revenue, reducing the need for tax increases or service cuts.
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