Summary
PICA adopted Resolution No. 2020-01, approving the City of Philadelphia’s Five-Year Financial Plan for FY2020 through FY2024. The resolution confirms that the plan meets the financial requirements outlined in the Pennsylvania Intergovernmental Cooperation Authority Act and the Intergovernmental Cooperation Agreement. PICA staff conducted a detailed review, presenting their findings to the Board before approval. This decision ensures that the City’s financial assumptions, revenue forecasts, and expenditure plans are sound and comply with legal standards. The resolution repeals any prior conflicting resolutions, providing a clear financial roadmap. It takes effect immediately, supporting the City’s long-term fiscal stability.