Rudiak champions best practices
Last week, legislation outlining and codifying best financial practices for the city, sponsored by Council Member Natalia Rudiak, was passed by Pittsburgh City Council.
This legislation adds language to the City Code, requiring the city and the mayor to do four things:
• The city will continue to produce five-year financial plans that include projected revenues, expenditures, operating results, and fund balances, to ensure realistic planning;
• The mayor must submit a copy of the annual budget to city council at the same time it is submitted to the Intergovernmental Cooperation Authority;
• The mayor’s administration shall provide city council with quarterly reports updating the status of the Operating Budget; and,
• The Mayor’s administration shall contribute a minimum amount to the pension fund each year, which meets or exceeds the annual pension obligations for that year.
Council Member Rudiak said of the legislation, “When the city entered into Act 47 oversight, we were not following best practices of government finance. 10 years later, I want to make sure that as the city’s financial outlook brightens, that we take best practices from our experience under Act 47 and make sure that they are followed for decades to come.”