PICA approved the City of Philadelphia’s FY2018-FY2022 Five-Year Financial Plan, confirming that it meets statutory requirements. The approval ensures that the City’s financial projections and budget planning align with legal and fiscal standards.

PICA approved a revised Five-Year Financial Plan for FY2018-FY2022 to incorporate the costs of an arbitration award for police officers represented by the Fraternal Order of Police. The revised plan ensures compliance with statutory requirements and reflects updated financial projections.

PICA approved a capital project funding substitution to redirect $420,000 in surplus bond proceeds from a library facility assessment to roof repairs for several library locations. This action ensures that remaining funds are used effectively for critical infrastructure improvements.

PICA retained Charles Swanson to review and analyze revenue assumptions in the City’s FY2018-FY2022 Five-Year Financial Plan, for a fee not exceeding $9,000. This engagement ensures PICA can assess the accuracy and reasonableness of the City’s financial projections.

PICA approved its FY2018 Operating Budget, ensuring continued funding for the Authority’s financial oversight responsibilities. The approved budget will be submitted to the Governor and General Assembly of Pennsylvania.

PICA retained Parker Bond Consulting to provide arbitrage rebate consulting services for the reporting period ending June 30, 2017. The contract, valued at $4,000, ensures compliance with federal tax regulations regarding bond proceeds.

PICA approved a capital project funding substitution to redirect $210,280.52 in surplus bond proceeds from a prior 2008 project to the renovation of mechanical, electrical, and plumbing systems at the same site. This action ensures that remaining funds are used effectively for critical infrastructure improvements.

PICA approved a capital project funding substitution to redirect $154,473.76 in surplus bond proceeds from a prior 2013 project to the construction of fire alarm systems. This action ensures that remaining funds are used for essential public safety improvements.

PICA retained Maher Duessel to provide auditing services for the fiscal year ending June 30, 2017, with two one-year renewal options. This engagement ensures continued compliance with financial reporting and regulatory requirements.

PICA approved the City of Philadelphia’s FY2017-FY2021 Five-Year Financial Plan, confirming that it meets statutory requirements. The approval ensures that the City’s financial projections and budget planning align with legal and fiscal standards.

PICA elected its officers for a one-year term, appointing Mr. Vaughan as Chairperson, Mr. Karp as Vice Chairperson, Mr. McColgan as Secretary/Treasurer, and Mr. Rost as Assistant Secretary. This election, held at the Board’s annual meeting, aligns with PICA’s bylaws and statutory requirements.

PICA reappointed Harvey M. Rice as Executive Director, extending his term to continue overseeing the Authority’s financial oversight responsibilities. His appointment remains in effect until a successor is appointed or his term is otherwise concluded.