PICA appointed Harvey M. Rice as a special advisor and agency consultant following his retirement as Executive Director, ensuring continuity in agency operations during the transition to a new director. Mr. Rice will provide consulting services until at least November 30, 2023, assisting with agency management and the onboarding of his successor.

PICA appointed Marisa Waxman as its new Executive Director following the retirement of Harvey M. Rice, with her term beginning immediately and continuing at the Board’s discretion. The resolution outlines the terms of her appointment, including conditions for termination, resignation, or succession.

PICA approved an amendment or replacement of the City Account Deposit and Disbursement Agreement to extend its term following the final payment of PICA’s bonds. This ensures compliance with the Pennsylvania Intergovernmental Cooperation Authority Act while maintaining proper financial oversight.

PICA approved Firstrust Bank as the provider of Depository Banking Services for four fiscal years beginning July 1, 2023, with four one-year renewal options. This decision follows an RFP process and ensures the secure management of City revenue deposits.

PICA approved its official meeting schedule for FY2024 and set the date for its FY2025 annual meeting, in compliance with the Pennsylvania Sunshine Act’s public notice requirements. The resolution ensures transparency by confirming the dates, times, and locations for Board meetings throughout the fiscal year.

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

PICA approved the City of Philadelphia’s FY2024-FY2028 Five-Year Financial Plan after determining that it meets all applicable legal and financial criteria outlined in the Pennsylvania Intergovernmental Cooperation Authority Act and the Intergovernmental Cooperation Agreement. This approval confirms the City’s financial projections and strategies for the next five years, ensuring compliance with statutory requirements.

PICA recognized and expressed appreciation for the service of T. Roderick Henkels, who served on the governing board from 2021 to 2023. His leadership contributed to maintaining Philadelphia’s financial stability.

PICA retained Angela Bird to provide consulting services for analyzing the City’s revenue, expenditures, and overtime data, preparing monthly reports. The engagement is based on a proposal dated June 1, 2023, with a compensation rate of $50 per hour.

PICA approved a new Intergovernmental Cooperation Agreement (ICA) with the City of Philadelphia, replacing the prior agreement that expired upon full repayment of PICA’s bonds. This ensures continued financial oversight in accordance with the Pennsylvania Intergovernmental Cooperation Authority Act.

PICA delegated hiring authority to the Executive Director to fill two staff vacancies for Deputy Executive Director and Analyst positions. This authorization ensures operational continuity and adherence to the Authority’s employment policies.

PICA retained Charles Swanson to review and analyze revenue assumptions in the City’s FY2024-FY2028 Five-Year Financial Plan, for a fee not exceeding $9,000. This engagement ensures that financial projections remain reasonable and aligned with PICA’s oversight responsibilities.