2025 Annual Comprehensive Financial Report Press Conference - 5/1/26

The City Channel Pittsburgh held a press conference on May 1, 2026, to present the 2025 Annual Comprehensive Financial Report (ACFR). The city controller detailed the financial status of Pittsburgh, highlighting a net loss of $44.6 million in 2025 due to the end of American Rescue Plan Act (ARPA) funding, which had previously supported the operating budget. The report emphasized increased expenditures on streets, sanitation, culture, recreation, and economic development, alongside a significant $1 million monthly cost to maintain the city fleet. Capital projects funding exceeded $115 million, with a focus on mobility and infrastructure. The city’s bonded debt rose to $512 million despite a large debt service payment, and pension funds remained healthy. The controller underscored the need for both short- and long-term fiscal solutions, including growth strategies and potential legislative changes to increase revenue. Transparency concerns were raised regarding city council’s use of procurement cards, with calls for improved oversight. No specific contract awards or vendor selections were announced, but the discussion highlighted ongoing financial management and procurement oversight challenges.