Summary
The PICA Board convened on July 21, 2014, to review and approve the Five-Year Financial Plan. Executive Director Harvey Rice reported that PICA’s operating expenditures remained under budget, though spending was slightly higher than the previous year due to increased rent and benefits. The Board reviewed concerns about the accuracy of City revenue forecasts, particularly regarding wage tax collections and property assessments. Additional discussions included the status of real estate assessment appeals, union labor contract negotiations, and School District funding proposals. The meeting concluded with concerns over the impact of population growth on tax revenues and the pending sale of Philadelphia Gas Works.