There’s good news and bad news.
That was the message from city of Pittsburgh Controller Michael Lamb Wednesday, as his office released its 2013 Popular Annual Financial Report. Lamb called the report the “layman’s version” of the city’s Comprehensive Annual Financial Report, which was released early this year.
The good news, said Lamb, is that the difference between the city’s liabilities and its assets shrunk by $4.1 million in 2013, to $423.8 million. In 2007, the gap was close to $600 million.