Pittsburgh Targets Ending Financial Oversight (Act 47)

English: Senator Bob Casey (D-PA) meets with P...

English: Senator Bob Casey (D-PA) meets with Pittsburgh Mayor Luke Ravenstahl. (Photo credit: Wikipedia)

After eight years of austerity, the city of Pittsburgh today will argue before a state panel that it has clawed its way to financial recovery and needs fewer mentors looking over its shoulder.

A public hearing on ending the city’s financially distressed status, and disbanding one of its oversight groups, begins at 4 p.m. in the city council chamber.

As of Friday, officials hadn’t decided whether to televise the hearing.

Mayor Luke Ravenstahl and his team will have 20 minutes to argue that establishing a trust fund for retiree health care, improvements to the capital budget process and bond rating upgrades, among other factors, warrant the city’s exit from Act 47, the law that imposes monitoring and financial restrictions on distressed municipalities.

Read more: http://www.post-gazette.com/stories/local/state/pittsburgh-targets-ending-financial-oversight-659655/#ixzz2AjL63Hnp

2 comments on “Pittsburgh Targets Ending Financial Oversight (Act 47)

  1. If you ask me Roy it would be a good idea for Pottstown to have Act 47. Somewhere I was reading the the police chief and the police captain bought fancy wheel rims for their squad cars with taxpayers $$$. They need to be slapped.

  2. I totally agree! The best thing that could happen to Pottstown would be a state takeover. God knows some fiscal responsibility is desperately needed to give the overburdened taxpayers relief! It seems to be working in Reading!

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