City Controller classifies Philadelphia’s accounting practices as the worst in the country

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This comes on the heels of the Mayor asking residents to bear a burden of higher property taxes to fund schools.

PHILADELPHIA–Earlier this week, newly elected City Controller Rebecca Rhynhart released her audit of the city’s 2017 finances. In terms of the city’s internal bookkeeping practices, she found ten discrepencies, making Philadelphia’s accounting practices the worst in the country. She reported a total of $924 million in bookkeeping errors just last year.

Rhynhart’s report comes on the heels of Mayor Kenney asking for a 4.1 percent property tax increase to fund schools.

“So now we’ve partially solved the riddle of the Philadelphia ‘money pit.’

“Tax, spend, rinse, repeat,’ did infact leave out a step where we lose some of the money.

“Is this how Democratic leadership shows appreciation to residents who are asked to pay taxes on everything from their wages to their children’s juice boxes?– By making almost 1 billion dollars in accounting mistakes in 1 year?”

“The culture of carelessness at City Hall is the source of most quality of life issues faced by Philadelphia’s residents– from crime to failing schools. I concur with the Controller that the city should gets its own house in order before asking for one more cent from residents,” said Michael Meehan, Chairman, Republican Party of Philadelphia.

It was in 2016 that Mayor Jim Kenney first made headlines with his fixation on tax-and-spend style governance, passing his infamous soda tax. Philadelphia was the second city in the country to pass a tax on soda and other sugary drinks. The tax was a bait-and-switch where the Mayor assured residents the money would be going toward education, however, to-date, less than half has been used for these purposes.

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