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Philadelphia warns of $450M budget gap

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Philadelphia finance and budget directors are projecting a $450 million budget gap for the city's next fiscal year.

The city is projecting $5.1 billion in costs during fiscal 2022, with revenues and reserves coming in at $4.7 billion. The next fiscal year starts July 1.

The Philadelphia Business Journal cited increased costs brought on by the pandemic, civil unrest and other events for the budget shortfall.

Read more from the Philadelphia Business Journal.

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