ICA and Act 47 Oversight Boards Weigh in on City’s Finances

Each year, the Intergovernmental Cooperation Authority (ICA) and Act 47 Coordinator — the City’s two oversight bodies — provide us with a progress report of how far we have come in meeting the goals of the Act 47 Recovery Plan adopted by Council in 2009. Both boards share Controller Lamb’s view that, while we have made progress, our work is not yet done. Council has taken several steps to get us to our eventual goal of achieving financial sustainability and the ability to leave oversight, including passing a Debt Management Policy, partnering with Allegheny County to upgrade our financial planning software, and requiring more detailed explanations of how the City’s Capital Budget is put to use. However, just passing the legislation isn’t enough. We have to ensure that it is properly implemented by the administration and the departments charged with overseeing it — and that work is ongoing. To read more about the views of the ICA, you can download their report here.

This entry was posted on Monday, August 6th, 2012 at 2:08 pm and is filed under Implementing Professional Management Systems, Opening Government's Books. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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