A proposed budget reduction isn’t always a true cut—sometimes it reflects the end of one-time costs, a shift in responsibility to another department, or reduced demand for services. For instance, FY26 budgets for Parks & Recreation and Homeless Services are lower than FY25, but not all changes imply service reductions. To discern real impacts, stakeholders…

Persistent staffing shortages have caused Philadelphia to underspend by over $200 million on employee wages across FY23 and FY24, as actual vacancies far exceeded budget assumptions. The report weighs whether vacancy rates in future budgets should be revised upward to improve transparency and flexibility. Regardless of the approach taken, clearer and more consistent disclosure of…

Philadelphia’s largest tax streams—Wage and Earnings and Real Estate—are forecasted with high accuracy, typically within three percent of actual results. In contrast, smaller and more volatile revenue sources like the Realty Transfer and Amusement Taxes show far greater forecasting errors, reflecting their sensitivity to economic shifts and one-off events. By comparing 21 years of projections…

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

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

PICA’s Federal Funds and Fiscal Cliffs issue brief examines how Philadelphia has relied on pandemic-related federal relief funds and the challenges it faces in maintaining fiscal stability as these funds expire.

PICA’s Tax Reform & Fiscal Stability issue brief explores Philadelphia’s historical tax reforms, their impact on fiscal health, and the potential effects of new proposals being considered by the Tax Reform Commission.

PICA’s Revenue Prediction Precision issue brief analyzes Philadelphia’s accuracy in forecasting revenues compared to 11 peer cities, finding that the City is among the most precise, with a mean error of ±4.0%.

PICA’s FY24 MidYear Budget Amendment Issue Brief evaluates trends in Philadelphia’s MidYear Transfer Ordinances, outlining best practices for responsible amendments and highlighting risks of excessive mid-year budget changes.

PICA’s Tariffs and the Philadelphia Budget issue brief examines the potential impact of proposed federal tariffs on the City’s economy, revenue streams, and expenditures, with recommendations for mitigation strategies.