PICA approved its FY2023 Operating Budget, ensuring continued funding for the Authority’s financial oversight activities. The approved budget will be submitted to the Governor and General Assembly of Pennsylvania.

PICA retained Charles Swanson to review and analyze revenue assumptions in the City’s FY2022-FY2026 Five-Year Financial Plan for a fee not exceeding $9,000. This engagement supports PICA’s role in ensuring the reasonableness of financial projections.

PICA approved the official meeting schedule for FY2022 and set the date for its FY2023 annual meeting, ensuring compliance with the Pennsylvania Sunshine Act. The resolution formalizes meeting dates and locations for the Authority’s fiscal year.

PICA elected its officers for a one-year term, appointing a Chairperson, Vice Chairperson, Secretary/Treasurer, and 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 FY2022-FY2026 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 recognized and expressed appreciation for the service of Tina Byles Williams, who served on the governing board from 2017 to 2021. Her leadership contributed to PICA’s mission of maintaining Philadelphia’s fiscal stability.

PICA approved its FY2022 Operating Budget, ensuring continued funding for the Authority’s financial oversight activities. The approved budget will be submitted to the Governor and General Assembly of Pennsylvania.

PICA approved the allocation of $210,280.52 from surplus bond proceeds to fund an emergency capital project at Philadelphia Fire Department’s Engine 37. The project involves replacing the emergency generator and upgrading mechanical, electrical, and plumbing systems.

PICA authorized the termination of two basis cap swap transactions with JP Morgan Chase Bank, ensuring proper financial management of prior bond agreements. Phoenix Capital Partners was selected as a swap advisor to assist with this process.

PICA recognized and expressed appreciation for the service of James F. Cawley, who served on the governing board from 2017 to 2021 and as Assistant Secretary/Treasurer. His leadership contributed to PICA’s mission of maintaining Philadelphia’s fiscal stability.

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.

PICA approved the official meeting schedule for FY2021 and set the date for its FY2022 annual meeting, ensuring compliance with the Pennsylvania Sunshine Act. The resolution formalizes meeting dates and locations for the Authority’s fiscal year.