Press Releases

The Board of the Pennsylvania Intergovernmental Cooperation Authority (PICA) is pleased to announce the approval of the City of Philadelphia’s Five-Year Financial Plan for Fiscal Years 2027-2031. This roadmap for the next five fiscal years outlines the City’s approach to fiscal stability, including efforts continuing to fully fund the City’s Pension Fund, allocations for the…

Approval affirms continued confidence in the City’s fiscal condition amid notable long-term and emerging risks. The Board of the Pennsylvania Intergovernmental Cooperation Authority (PICA) voted to approve the City of Philadelphia FY26-30 Five-Year Financial Plan at its annual meeting, affirming that the Plan meets the statutory requirements set forth in the PICA Act. The approval…

Press Release announcing that PICA Board Unanimously Approves City of Philadelphia’s FY2025-FY2029 Five Year Financial Plan.

Press Release announcing Marisa Waxman has been appointed Executive Director of PICA, effective October 2023.

Press Release announcing PICA report on the FY23Q3 QCMR. FY2023 Fund Balance Projected to be $614.9 Million, Obligations Projected to Outpace Revenues.

Press release announcing PICA's report on the FY23Q2 Quarterly City Managers Report. FY2023 Fund Balance Projected to be $660.5 Million Obligations Projected to Outpace Revenues.

Press release announcing PICA report on the FY23Q1 QCMR. FY2023 Fund Balance Projected to Exceed $500 Million, Obligations Projected to Outpace Revenues.

Press Release announcing PICA report on the FY22Q4 QCMR. FY2022 Revenues Projected to Outpace Obligations Year-End Fund Balance Projected at $492.4 Million

Press Release announcing that thePICA Board Unanimously Approves City’s FY2023-FY2027 Five Year Plan and Kevin Vaughan Re-elected Chair.

Press Release announcing that Governor Wolf signed legislation to Extend PICA beyond its June 2023 expiration. This renewal of authorization was signed on July 8, 2022

Press Release announcing that PICA Issues Report on Pandemic’s Impact on City Employee Separations.

Press Release announcing that PICA Marks 30 Years with Retrospective Report.

Press Release announcing PICA Report on the FY22Q2 QCMR. City’s FY2022 Spending Projected to Outpace Revenues by $288 Million Year-End Fund Balance Projected at $133.7 Million

Press release announcing PICA report on the FY22Q1 QCMR.City’s FY2022 Spending Projected to Outpace Revenues by $358 Million, Year-End Fund Balance Projected at $133.9 Million

Press Release announcing that the PICA Board Unanimously Approves City’s Revised FY2022-FY2026 Five Year Plan.

Press Release announcing PICA report on Fund Balance and Reserves. Philadelphia Ranks Near Bottom in Reserve Funds, Fund Balance when Compared with Other Cities.