Publications

At this meeting, the Board will hear a presentation on a capital funding request for Cobbs Creek, as well as the FY25 audit report from Maher Duessel. Members will receive updates from the City, along with reports from the Executive Director and Treasurer, and consider two resolutions—one related to a capital funding appropriation for Cobbs…

Philadelphia’s credit ratings were reaffirmed at A1 by Moody’s and A+ by both S&P and Fitch—the highest the City has received in over 40 years, though still below most peer cities. Rating agencies highlighted strong reserves, declining debt, and the fiscal governance required under the PICA Act as key strengths, while noting long-term risks tied…

Philadelphia spent $313.7 million on General Fund overtime in FY25, exceeding the adopted overtime budget by 10 percent and marking a nearly 19 percent increase over FY24. Major drivers included contracted pay increases, persistent public safety staffing shortages, emergency responses, and special events like the Eagles’ Super Bowl run and the presidential election. While some…

The City of Philadelphia has made significant progress toward fully funding its pension obligations, with reforms and steady contributions raising its funded ratio from 45 percent in FY16 to a projected 90 percent by FY30. The report explains how continuing on this path enhances credit ratings, lowers long-term costs, and strengthens the City’s fiscal stability,…

The FY25 Q4 Quarterly City Managers Report (QCMR) projects increased General Fund revenues and increased spending compared to the approved FY25-29 Five-Year Plan, but a $46M decrease in revenues compared to Q3, with lower expectations from the Real Estate Tax and Sheriff fees. Overall, the City anticipates $384M more in revenue than FY24, driven by…

The PICA Board unanimously approved the City of Philadelphia’s FY26–30 Five-Year Financial Plan after determining it met all requirements under the PICA Act and the Intergovernmental Cooperation Agreement. The resolution affirms that the Plan includes reasonable assumptions and maintains statutory fiscal standards. The vote passed with the required qualified majority.

The PICA Board approved the first one-year renewal of its contract with J. Miller & Associates, LLC to provide accounting services for the period from July 1, 2025 through June 30, 2026. The renewal is based on a prior agreement that allows for up to four one-year extensions at the Authority’s discretion. The resolution authorizes…

The PICA Board approved the first one-year renewal of its contract with Maher Duessel LLP to provide financial auditing services for the fiscal year ending June 30, 2026. This renewal covers services from January 1 to December 31, 2026, and includes an option for further annual renewals at the Authority’s discretion. The resolution authorizes necessary…

The PICA Board approved its schedule of regular meetings for Fiscal Year 2026 and the Annual Meeting for Fiscal Year 2027, as required under the Pennsylvania Sunshine Act. Meetings will be held monthly at 12:15 p.m. in PICA’s conference room at 1500 Walnut Street, with details also available on the Authority’s website. The resolution ensures…

The PICA Board elected officers for a one-year term at its annual meeting, as required by the PICA Act and the Authority’s bylaws. Kevin Vaughan was elected Chairperson, Alan Kessler as Vice Chairperson, Michael Karp as Secretary/Treasurer, and Rosalind Sutch as Assistant Secretary/Treasurer. The resolution took effect immediately upon its approval.

The Board discussed the City’s newly adopted FY26 budget and upcoming submission of the FY26–30 Five-Year Plan to PICA, including updates on grants, affordable housing tax exemptions, and pending labor agreements. PICA staff shared recent publications, outlined areas of upcoming research, and reported on organizational activities such as community engagement, conference participation, and budget performance….

The Board will meet to review updates from the City and staff, including reports from the Executive Director and Treasurer, followed by an opportunity for public comment. Members will consider and vote on five resolutions, including approval of the FY26–30 Five-Year Plan, renewals of audit and accounting services, election of Board officers, and the FY26…

Following City Council approval of the FY26 budget and the Mayor signing the budget bills into law, the Parker Administration has updated the Five-Year Financial Plan for Fiscal Years 2026 through 2030 (FY26-30) to reflect amendments to the FY26 budget and updated expectations for expenditures and collections over the life of the Plan. The FY26-30…

Capital projects are major, long-term investments, and large cities are increasingly turning to dashboards and interactive tools to keep residents informed about their progress. This publication compares Philadelphia’s new efforts to share capital spending data with more advanced transparency platforms in New York City, Charlotte, and Boston, highlighting best practices for project tracking and communication….

Philadelphia’s H.O.M.E. Initiative plans to invest $800 million over four years in housing, with $161 million expected to be spent in the first year. This pace is significantly faster than previous initiatives such as Rebuild and the Neighborhood Preservation Initiative. The report outlines how factors like program design, administrative capacity, and stakeholder engagement can shape…

The PICA Board unanimously adopted a resolution honoring Deidre Morgenstern for 30 years of exemplary service to the Authority. She has played a vital role in financial operations, including overseeing PICA Tax transfers and supporting audits, while serving under six executive directors and across five mayoral administrations. The resolution highlights her lasting contributions to Philadelphia’s…