PICA approved the allocation of $862,000 from surplus bond proceeds to fund ADA accessibility improvements at four Philadelphia Police Districts. The improvements include new ramps, elevators, restrooms, and accessibility enhancements to public areas.

PICA approved a settlement agreement in litigation regarding the alleged manipulation of the LIBOR interest index, joining the City of Philadelphia in accepting the settlement. The resolution authorizes the execution of all necessary legal documents to finalize the agreement.

PICA retained Parker Bond Consulting to provide arbitrage rebate consulting services for the calculation period ending June 30, 2020. The engagement, for a fee of $4,500, ensures compliance with federal tax regulations.

PICA reappointed J. Miller & Associates, LLC to provide accounting services for four consecutive fiscal years beginning with FY2021. The engagement follows a competitive RFP process and ensures financial management continuity.

PICA reappointed Maher Duessel, LLP to provide audit services for the fiscal year ending June 30, 2020, with four one-year renewal options. The firm was selected after a competitive RFP process and will ensure compliance with financial reporting requirements.

PICA approved the City of Philadelphia’s request to withdraw its FY2020-FY2024 revised Five-Year Financial Plan and submit a new version by June 12, 2020. The withdrawal was granted to allow the City to address financial concerns raised during PICA’s review.

PICA granted the City of Philadelphia permission to defer submitting a required revision of its FY2020-FY2024 Five-Year Financial Plan due to pending labor contracts. The City was instead allowed to submit its new FY2021-FY2025 Plan in satisfaction of this requirement.

PICA adopted a Post-Issuance Compliance Policy to ensure adherence to federal tax and securities laws in relation to its bonds and debt obligations. The policy establishes formal procedures for ongoing compliance and documentation.

PICA approved its FY2021 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 FY2021-FY2025 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 City of Philadelphia’s FY2020-FY2024 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 selected legal and investment banking firms to provide professional services for the 2019 Refunding Bonds transaction. The Executive Director was authorized to finalize contracts and terms within specified fee limits.