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Mayor O'Connor's first budget taps $28 million in reserves and adds no new taxes
$28 millionfrom the rainy day fund to balance the 2027 budget
That lets the city cover costs without raising taxes.
Mayor Corey O'Connor gave his first budget address Monday, and his 2027 plan covers the gap with $28 million from the city's rainy day fund instead of new taxes. The city faces a projected $250 million deficit over the next five years. On refilling the fund, O'Connor said, "It won't be in 2027, and it might not be for a couple of years."
The reports differ on the total. WESA says the operating and capital budget is $872.6 million, while WPXI reports a $728 million budget that promises no layoffs.
- Taxes: no new ones for residents
- Vacant positions: eliminated
- Department requests: hundreds turned down
- Housing Opportunity Fund: no new money
Activists rallied before the speech over the shift away from housing and violence-prevention money. Chief of staff Dan Gilman said the city will keep funding those priorities, and millions will go to the Urban Redevelopment Authority for affordable housing.
Four figures frame the 2027 budget debate
- $250 million
- projected deficit over the next five years
- $100 million
- raised from corporations, unions, universities and others
- $12 million
- redirected from the Stop the Violence fund
- $10 million
- put into each of two funds annually before
Sources: 90.5 WESA, WTAE, CBS Pittsburgh
