St. Monica marching band director Carrie Morgan thinks understanding will come with disappointment from the students that make up the Crusaders who would've taken part in the parade.
"They will be disappointed will because they have been practicing all summer," Morgan said.
At Broad Street and Snyder Avenue, news of the parade cancellation didn't go over to well.
"Why would they cancel the parade? Every year we have that, that's what we look forward to down here," Elimaris Berrious of South Philadelphia said.
"Sure, I care. I'm Italian. I'm going to miss it very much," Angela Stio of South Philadelphia said.
Organizers say at least three things factored in to this decision. One, donations are down due to the recession. Two, the city's new policy to charge events full fare for police and clean up. Three, a self inflicted problem, a failure to do all the paperwork for state grant money. The bottom line is a $30,000 hole in a $52,000 budget.
On the plus side, there will still be an Italian Heritage Festival at Marconi Plaza October 11.
Parade organize Kathleen Murray has high hopes about the future of the parade.
"So wait till next year, trust me, I believe there will be a parade on Broad Street," Murray said.