Summary
PICA has adopted Resolution No. 2024-01, approving the City of Philadelphia’s Five-Year Financial Plan for FY2024-FY2028 as required under the Pennsylvania Intergovernmental Cooperation Authority Act and the Intergovernmental Cooperation Agreement. The City submitted the plan outlining its projected revenues, expenditures, and fiscal strategies for the five-year period ending June 30, 2028. PICA staff conducted a review of the plan and provided a report to the Board, leading to its approval.
With this resolution, PICA confirms that the City’s financial plan complies with statutory requirements and ensures financial stability. The resolution also repeals any conflicting prior resolutions and takes effect immediately upon approval. The plan’s approval is crucial for the City’s financial planning and fiscal management over the coming years.