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…

The Pennsylvania Intergovernmental Cooperation Authority (PICA) was established in 1991 in response to Philadelphia’s financial crisis, providing oversight and access to capital markets to restore fiscal stability. The Authority continues to review the City’s annual Five-Year Financial Plans and enforce compliance through quarterly reporting and the power to withhold state funds if necessary. Amendments in…

PICA’s Bylaws goverrn how the organization is run and structured. It outlines the members of the Board, how meetins occur, and other aspects of the operations of PICA.

The PICA Act is the Commonwealth of Pennsylvania statute, originally passed in 1991 and most recently amended in 2022, that established PICA. It outlines the reasons why PICA is necessary and the structure and role of the Authority, as well as requirements for 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.