Financial Oversight for the City of Philadelphia


PICA provides independent oversight of Philadelphia’s finances to promote long-term fiscal stability and accountability. Explore our publications to access reports, analyses, and financial reviews that inform policy and guide decision-making.

Newest PICA Publications

  • Fact Sheet: City of Philadelphia’s FY26 Annual Financial Report

    Philadelphia ended FY26 with a preliminary General Fund balance of $982.3 million, or 15.4% of revenues, exceeding projections in both the FY26-30 and FY27-31 Five-Year Plans. Revenues were $59.0 million higher and spending was $163.8 million lower than anticipated in the FY27-31 Plan, although Wage and Earnings Tax collections fell slightly short of expectations. Despite…

    November 9, 2026

  • PICA Annual Report FY2026

    During FY26, PICA fulflled its oversight responsibilities for the City through Five-Year Financial Plan reviews, quarterly budget monitoring, and independent research on reserves, debt, taxes, and economic development. PICA also expanded public engagement, supported fiscal transparency, and provided $786.5 million in PICA Tax revenue to the City of Philadelphia. Looking ahead to FY27, priorities include…

    October 21, 2026

  • QCMR Summary FY26 Q4

    Philadelphia’s FY26 Q4 QCMR projects an $884.4 million year-end General Fund balance, equal to 14.0 percent of revenues, with revenues and obligations both at 99.4 percent of the PICA-approved FY26-30 Five-Year Plan. The improved fund balance reflects the unused $91.0 million Federal Funding Reserve and a stronger starting position from FY25, while the City still…

    September 1, 2026

The mission of the Authority, as stated in its enabling legislation, is as follows:

It is hereby declared to be a public policy of the Commonwealth to exercise its retained sovereign powers with regard to taxation, debt issuance and matters of Statewide concern in a manner calculat­ed to foster the fiscal integrity of cities of the first class to assure that these cities provide for the health, safety and welfare of their citizens; pay principal and interest owed on their debt obligations when due; meet financial obligations to their employees, vendors and suppliers; and provide for proper financial planning procedures and budgeting practices.

Rosalind W. Sutch

Vice-Chair

Michael A. Karp

Secretary / Treasurer

Patrick Burns

Assistant Secretary/Treasurer

Kevin Vaughan

Member