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PICA Staff Report on the City of Philadelphia’s FY26-30 Five-Year Financial Plan
PICA’s Staff Report recommends PICA Board approval of the City of Philadelphia’s FY26–30 Five-Year Plan because it meets the requirements of the PICA Act, projecting positive year-end fund balances despite planned operating deficits from FY26 to FY29. The report highlights reasonable economic and revenue assumptions, the City’s continued investments in reserves, and the substantial $379…
July 25, 2024 Board Meeting Minutes
The PICA Board met on July 25, 2024, to approve the FY2025-2029 Five-Year Financial Plan, elect Board Officers, and approve the FY25 Board Meeting Calendar. The Board discussed financial risks, including staffing shortages, pension obligations, and declining fund balances.
June 18, 2024 Board Meeting Minutes
The PICA Board met on June 18, 2024, to approve auditing and accounting service contracts for the Authority. The Board also discussed the upcoming FY2025-2029 Five-Year Plan and financial challenges facing the City.
April 16, 2024 Board Meeting Minutes
The PICA Board met on April 16, 2024, to discuss the City’s FY25-29 budget review process, upcoming financial reports, and lease terms for PICA’s office space. The Board approved a lease extension that reduces rental costs while maintaining the current office location.
March 19, 2024 Board Meeting Minutes
The PICA Board met on March 19, 2024, to approve contract extensions for revenue analysis services and legal counsel. The Board also received updates on the City’s upcoming FY25-29 budget, staffing challenges, and financial forecasts.
February 20, 2024 Board Meeting Minutes
The PICA Board met on February 20, 2024, to approve the Authority’s FY25 Operating Budget and select new legal counsel. The Board also discussed City financial trends, including budget surpluses and the ongoing lease renegotiation for PICA’s office.
January 16, 2024 Board Meeting Minutes
The PICA Board met on January 16, 2024, to review the City’s FY23 financial performance, approve conference expenses, and discuss leasing options for PICA’s office space. The Board also examined City staffing trends and budget allocations.
September 28, 2023 Board Meeting Minutes
The PICA Board met on September 28, 2023, to review financial reports, approve resolutions, and discuss the upcoming fall conference. The Board appointed Harvey Rice as Special Advisor and Agency Consultant (Resolution 2024-04).
July 25, 2023 Board Meeting Minutes
The PICA Board met on July 25, 2023, to approve the FY2024-2028 Five-Year Financial Plan and elect officers for the new fiscal year. Discussions covered budget projections, pension funding, and tax policy changes.
October 17, 2023 Board Meeting Minutes
The PICA Board met on October 17, 2023, to discuss tax revenue collections, financial reporting, and upcoming personnel changes. The Board appointed Marisa Waxman as the new Executive Director (Resolution 2024-05).
November 21, 2023 Board Meeting Minutes
The PICA Board met on November 21, 2023, to review financial trends, budget adjustments, and legal services procurement. The Board also discussed City staffing vacancies, labor contract negotiations, and tax collection issues.
June 20, 2023 Board Meeting Minutes
The PICA Board met on June 20, 2023, to select a new depository bank and approve a revised City Account Agreement. The Board chose Firstrust Bank for depository banking services and authorized a temporary agreement with U.S. Bank (Resolutions 2023-14 and 2023-15).