Summary
PICA adopted Resolution No. 2023-01, approving the City of Philadelphia’s Five-Year Financial Plan for FY2023 through FY2027. The resolution confirms that the plan meets the financial requirements set forth in the Pennsylvania Intergovernmental Cooperation Authority Act and the Intergovernmental Cooperation Agreement. The plan was reviewed by PICA staff, and a report was presented to the Board for evaluation. This approval signifies that the City’s financial assumptions, revenue projections, and expenditure plans are deemed reasonable and fiscally responsible. The resolution repeals any prior conflicting resolutions, ensuring a clear financial roadmap for the City. It takes effect immediately, supporting long-term financial stability.