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Norwood, PA · Business
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Chester faces possible bankruptcy with $45.7 million in funding needs for 2027
The City of Chester's Receiver identified $45.7 million in upfront funding needs in 2027 and said the city faces a growing budget deficit over the next 10 years. In a memo named "The Number," the state-appointed overseer of Chester's finances said that the city is facing $41.6 million in outstanding pension obligations, including accrued interest and penalties, as well as a $4.3 million operating deficit in 2028 and $1.1 million in necessary investments in the city.
Chester, PA · 10h
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