PICA reappointed Maher Duessel, LLP to provide financial auditing services for the fiscal year ending June 30, 2025, with four one-year renewal options. The selection followed a competitive RFP process in which Maher Duessel was the sole respondent and was deemed the best-qualified firm.

PICA approved its meeting schedule for FY2025 and set the annual meeting date for FY2026, ensuring compliance with the Pennsylvania Sunshine Act. The resolution formalizes meeting dates, times, and locations for the Authority’s fiscal year.

PICA elected its officers for a one-year term, appointing 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 funding for two staff members to attend the American Planning Association Annual Conference in April 2024 and two staff members to attend the Government Finance Officers Association Annual Conference in June 2024. The estimated costs, totaling approximately $11,454, were deemed reasonable and beneficial for the Authority.

PICA approved the engagement of a new General Counsel following a competitive RFP process, selecting a firm based on qualifications and experience. The contract is for one year, with three one-year renewal options at PICA’s discretion.

PICA approved its FY2025 Operating Budget, ensuring continued funding for the Authority’s financial oversight responsibilities. The approved budget will be submitted to the Governor and General Assembly of Pennsylvania.

PICA formally recognized and expressed appreciation for the service of S. William Richter, Esq., who served as General Counsel from the Authority’s inception in 1991 to 2024. His contributions were instrumental in improving the City of Philadelphia’s financial stability and overseeing billions of dollars in bond proceeds and tax revenue remitted to the City.

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.