Pittsburgh's annual financial report shows growth despite pandemic and population loss

PITTSBURGH (KDKA) -- The Pittsburgh City Controller's Office released its annual financial report, and it shows the city is still achieving financial stability despite encountering hurdles.

This year, the city received $73 million more than it spent and brought in $700 million total in general funds.

The city also saw growth from its two main sources of income: real estate and earned income taxes.

This comes despite the fact the city is still recovering from the pandemic and is seeing a decline in population.

City Controller Michael Lamb says this bodes well for the city moving forward.  

"We have weathered the worst of the storm," Lamb said at a press conference Friday. "We have come through the other side with still a very stable financial situation in large part thanks to the American Rescue Plan and also to our own resilient economy here in the Pittsburgh area."

Half of the money that the city brings in goes toward public safety while another 40 percent goes toward general government and street services.