Publications

The FY24 Quarterly Overtime Report for Q1 shows that overtime spending reached $59.6 million, coming in $8 million under budget despite increases in some departments.

The PICA Board met on November 21, 2023, to review financial trends, budget adjustments, and legal services procurement. The Board also discussed City staffing vacancies, labor contract negotiations, and tax collection issues.

The November 21, 2023, meeting agenda includes reports from the Executive Director and Treasurer, an overtime update, and new business discussions. The Board will also review and approve the minutes from the previous meeting.

The first quarter FY24 QCMR projects General Fund revenues at $5.94 billion, $67.7 million below the Five-Year Plan, while obligations have increased to $6.27 billion, $78.2 million higher than projected. The year-end fund balance is now projected at $685.0 million, $153.0 million higher than the Five-Year Plan estimate, representing 11.5% of revenues​.

PICA’s Fact Sheet on the City of Philadelphia's FY23 Annual Financial Report (AFR) analysis reveals a higher-than-expected $982 million fund balance due to increased revenue from other governments and lower spending on personal services.

Press Release announcing Marisa Waxman has been appointed Executive Director of PICA, effective October 2023.

The PICA Board met on October 17, 2023, to discuss tax revenue collections, financial reporting, and upcoming personnel changes. The Board appointed Marisa Waxman as the new Executive Director (Resolution 2024-05).

The October 17, 2023, meeting agenda includes standard reports, an Executive Session, and a vote on Resolution No. 2024-05 to appoint a new Executive Director. The Board will also review overtime updates and hear public comment.

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.

The Pennsylvania Intergovernmental Cooperation Authority (PICA) FY23 Annual Report provides an overview of the Authority's activities, financial oversight, and analysis of the City of Philadelphia’s fiscal condition over the past year. It includes key findings from PICA’s financial reviews, budget analyses, and policy recommendations aimed at ensuring the City's long-term financial stability as well as the Authority's financial statements and report from its auditors.

PICA's Charting a Course for Fiscal and Climate Sustainability report examines the financial risks climate change poses to Philadelphia and explores strategies to integrate climate resilience into the City’s fiscal planning. The report highlights key investment areas, including infrastructure improvements, climate budgeting, and new revenue sources to fund long-term sustainability efforts.

PICA’s FY23 Annual Overtime Report analyzes record-high overtime spending of $249.6 million, reflecting a 17.2% increase from FY22. The report highlights departmental overspending, staffing challenges, and trends impacting workforce management and budget performance.

The PICA Board met on September 28, 2023, to review financial reports, approve resolutions, and discuss the upcoming fall conference. The Board appointed Harvey Rice as Special Advisor and Agency Consultant (Resolution 2024-04).

The September 28, 2023, meeting agenda includes reports, an Executive Session, and a vote on Resolution No. 2024-04, appointing Harvey M. Rice as Special Advisor and Agency Consultant. The Board will also review overtime updates and hear public comment.

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.

The fourth quarter FY23 QCMR projects General Fund revenues at $5.93 billion, $224.8 million above the Five-Year Plan, while obligations have increased to $6.06 billion, $214.8 million higher than expected. The final year-end fund balance is estimated at $682.5 million, $310.3 million above the Five-Year Plan estimate, representing 11.3% of obligations​.