Philadelphia’s reserves improved significantly between FY20 and FY24, reaching 18 percent of General Fund revenues, the highest level in City history, but still below the median among ten peer cities. Despite this progress, projections in the FY26 to FY30 Five-Year Plan show reserves steadily declining, which may limit the City’s ability to respond to future…

The Thirty Years of Financial Oversight report reviews PICA’s role in stabilizing Philadelphia’s finances from 1991 to 2021. The report highlights PICA’s contributions to deficit reduction, budgetary oversight, and fiscal reforms that improved the City’s long-term financial health.