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The Intergovernmental Cooperation Agreement: Sustaining Philadelphia’s Financial Stability
The Intergovernmental Cooperation Agreement (ICA) outlines how PICA and the City will meet the fiscal oversight requirements of the PICA Act, detailing responsibilities for financial planning, reporting, and enforcement. Updated in 2023, the agreement ensures transparency and accountability by regulating fund management and permitting financial penalties if the City falls out of compliance. As a…
Intergovernmental Cooperation Agreement by and between Pennsylvania Intergovernmental Cooperation Authority and the City of Philadelphia
The PICA-City Intergovernmental Cooperation Agreement is a signed agreement between the City of Philadelphia and the Pennsylvania Intergovernmental Cooperation Authority outlining how they will interact in accordance with the PICA Act. This agreement was updated in June 2023 following amendments to the PICA Act that included extending the life of PICA until at least 2047.