FOR IMMEDIATE RELEASE:
Wednesday, June 30, 2021
CONTACT: Rachael Heisler
Phone: (412) 715-5385 (cell)
Email: rachael.heisler@pittsburghpa.gov
CITY CONTROLLER LAMB GIVES UPDATE ON CITY FINANCES AND RELEASES PITTSBURGH’S POPULAR ANNUAL FINANCIAL REPORT FOR FY 2020
PITTSBURGH – On Wednesday, Pittsburgh City Controller Michael Lamb released the 2020 Popular Annual Financial Report (PAFR) and offered an update on the City of Pittsburgh’s finances as the city emerges from the COVID-19 pandemic. You can view the 2020 PAFR here.
This is the 12th year the Controller’s office has released the PAFR, a brief and user-friendly version of the City’s Comprehensive Annual Financial Report (Annual Report). Among other information, the PAFR for the fiscal year ended December 31, 2020 details the City’s 2020 spending on capital projects, which amounted to $60.9 million. Projects included improvements to sidewalks, steps, and roads, the purchase of vehicles and heavy equipment, and major repairs to city assets.
“My office is committed to making city government more accessible to residents,” said Lamb. “We use the PAFR to help increase awareness of Pittsburgh’s government and financial health.”
In addition to providing information on the city’s
financial condition, the PAFR provides information about Pittsburgh’s
demographics, government, and businesses. The City Controller’s office
distributes the PAFR to Pittsburgh companies, community groups, colleges and
universities, government entities, and a host of other organizations. The
Controller’s office has been awarded the Government Finance Officer
Association’s (GFOA) “Award for Outstanding
Achievement in Popular Annual Financial Reporting” for every
PAFR released.
“It is our hope that this PAFR will offer insight into how the City weathered
the worst of the COVID-19 pandemic,” said City Controller Michael Lamb.
“The city’s 2020 deficit exceeded $50 million, but with thanks to President
Biden, we expect to fully offset those losses via support from the American
Rescue Plan.”
As of June 30, 2020, the City
of Pittsburgh has received $167 million of its allotted $335 million from the
American Rescue Plan. The funds remain in a separate, segregated trust
fund account, which allows the City Controller’s office full auditing authority.
Mayor Peduto released his spending priorities, and we hope there will be a
robust public debate on how funding will be distributed. The Controller’s
office will be a partner in reporting as required by the U.S. Treasury
Department.
“My office is fully committed to ensuring the transparency of American Rescue
Plan dollars. We will continue to work with various city departments, the
administration, and council to make sure there are adequate controls,” City
Controller Lamb said. “We are grateful for this support from the federal
government, and it will, without a doubt, ensure that the city is made
whole after the pandemic.”
Link to PAFR: Popular Annual Financial Report for FY 2020
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