Representatives for the Mummers and the Mayors office know the clock is ticking and parade details need to be resolved.
Mayor Michael Nutter has earmarked $300,000 for the parade.
In years past, the Mummers got roughly a million, but in these dire economic times, budgets are being slashed and the Mummers aren't immune.
The mayor says the parade needs to cut down, both in distance and length of time.
"Again we're not dictating to the Mummers what their parade has to look like; we're just offering suggestions to the get the costs down,": Doug Oliver of the mayor's office.
Mummers spent the morning collecting donations on the streets of Philadelphia. They know if this year's parade will look anything like in years' past, they need to raise money and raise it fast.
The mayor's office says it has a plan where the parade would be shortened to 6 hours and there wouldn't be a post parade celebration on 2nd street. The estimated cost would be $347,000.
This means the Mummers would have to give up around $50,000.