'What have I gotten myself into?'

PICA, aka the Pennsylvania Intergovernmental Cooperation Authority, but better aka as the watchdogs of the city's budget, put out a sobering report on the fiscal challenges that the next mayor will face. (report published 9/14/06)

Just a few of the bullet points:

• The general fund's balance will have dropped $130 million - 65 percent - in three years.
• Health-insurance costs for employees will be $80 million higher than in '06 - even if the city is successful in appealing recent police and fire awards.
• The mayor's budget will rely in part on an unlikely $45 million loan repayment from PGW.
• And the five-year plan -- the essential blueprint of the city's future -- is due 90 days after the next mayor takes office.

Yikes.

Check out PICA's own summary of its report at in this Daily News column (9/14/06).

Or read PICA's report here (PowerPoint version here).