Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Pittsburgh CFO Defends City Budget before Watchdog Agency

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Pittsburgh CFO Defends City Budget before Watchdog Agency

Article excerpt

A member of Pittsburgh's state-appointed financial overseer on Thursday questioned revenue projections in the city's 2018 budget.

Michael Danovitz, treasurer of the Intergovernmental Cooperation Authority, said revenue projections for the next five years seem "too rosy." He asked a city official what would happen if a recession occurred during that period.

"There always could be an unforeseen thing, like what happened in 2008 or a 9/11-type scenario," said Sam Ashbaugh, Pittsburgh's chief financial officer. "But everything we're seeing is that that modest growth will continue."

Mr. Ashbaugh gave a presentation on the city's 2018 operating and capital budgets to the ICA Thursday afternoon at City Council chambers, Downtown. Mayor Bill Peduto submitted the budget and a five-year spending plan to the ICA last week. …

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