Chester faces possible bankruptcy with $45.7 million in funding needs for 2027

Chester Chester faces possible bankruptcy with $45.7 million in funding needs for 2027 The City of Chester faces more than $40 million in outstanding pension obligations as well as a growing budget deficit. By Brendan Brightman • Published 57 seconds ago • Updated 48 seconds ago 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. Stream Philadelphia News for free, 24/7, wherever you are with NBC10. WATCH HERE Chester's annual deficit was also projected to grow to $36.8 million in 2036 due to increased costs, particularly on personnel and healthcare. "The Receiver will evaluate potential solutions in good faith, with the goal of addressing Chester's financial obligations while preserving the operational improvements necessary for the City to provide vital services long after receivership ends," the release stated. "If negotiations do not produce an acceptable resolution, the Receiver has a responsibility to file a Plan of Adjustment through the bankruptcy process." The Receiver's Office held a community meeting on Wednesday morning, and will hold another one on Nov. 18 at 5:30 p.m. at the Chester City Hall, Community Room 1 E. Residents in Delaware County say they are paying the price of pollution as Philadelphia continues to send its trash to an incinerator there. NBC10 investigative reporter David Charns explains. This article tagged under: Chester