Delaware CountyThursday, November 12
Chester's receiver says the city needs $45.7 million in upfront funding in 2027
The West Chester Morning News team
If you live in or near Chester, the city's state-appointed receiver just put a price on getting out of bankruptcy. The Receiver's Office identified $45.7 million in upfront funding needs for 2027 in a memo called "The Number." It also says the city faces a growing budget deficit over the next 10 years, driven by personnel and healthcare costs.
Chester's pension obligations dwarf its other funding needs
Source: NBC10 Philadelphia
View as table
| Value | |
|---|---|
| Pension obligations | $41.6 million |
| 2028 operating deficit | $4.3 million |
| Necessary investments | $1.1 million |
- Next community meeting: Wed., Nov. 18, 5:30 p.m., Chester City Hall, Community Room 1 E.
- City fund balance now: $12 million
- Police pension fund: five years of assets
Receiver Vijay Kapoor told WHYY News, "It's challenging, but I also think it's doable." He called the figure his team's "good faith estimate" of the deficit to close to get out of bankruptcy. If talks don't produce an acceptable resolution, the receiver says it has a responsibility to file a Plan of Adjustment through the bankruptcy process.
$36.8 millionprojected annual deficit in 2036
The receiver projects Chester's annual deficit growing to that figure because of rising costs, particularly personnel and healthcare.
Source: NBC10 Philadelphia
Sources: NBC10 Philadelphia, WHYY