Publications

The Pennsylvania Intergovernmental Cooperation Authority (PICA) FY18 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 FY18 Annual Overtime Report reviews record-high overtime spending of $179.4 million, exceeding the budgeted allocation by $43.8 million. The report examines overtime cost drivers, staffing shortages, and departmental spending patterns, with a focus on improving fiscal oversight.

The PICA Board met on September 18, 2018, to approve a consulting contract for a Police Court Overtime Study and review tax revenue updates. The Board approved Resolution 2019-04, authorizing a consultant to assess police overtime trends.

PICA retained Baker Tilly International to conduct a study on the City of Philadelphia’s Police Court Overtime practices, with a contract limit of $105,000. The study aims to improve efficiency and accountability in police-related court overtime expenses.

This press release announcies PICA's analysis of the FY18Q4 Quarterly City Manager's Report. It found that the City Ends FY2018 with $228.5 Million Fund Balance, Spending Increased by $318 Million Over Last Year.

The fourth quarter FY18 QCMR reports General Fund revenues at $4.47 billion, $69.3 million above the Five-Year Plan, while obligations have increased to $4.46 billion, $22.2 million higher than expected. The final year-end fund balance is estimated at $228.5 million, reflecting a strong close to the fiscal year but with continued expenditure growth.

Philadelphia has negotiated four major labor contracts with wage increases while also attempting to reform its pension system, which remains only 45% funded with a $6 billion shortfall. The city aims to reach 80% funding by 2029 through increased employee contributions and dedicated sales tax revenue, but experts warn that its investment return assumptions may be too optimistic​.

The PICA Board met on July 25, 2018, to approve the FY2019-2023 Five-Year Financial Plan and elect Board officers. The Board approved Resolution 2019-01, endorsing the plan while noting concerns about pension funding and wage tax trends.

Press Release announcing that the PICA Board Unanimously Approves City’s FY2019-FY2023 Five Year Plan and Kevin Vaughan Re-elected Chair of PICA Board

PICA approved the official meeting schedule for FY2019 and set the date for its FY2020 annual meeting, ensuring compliance with the Pennsylvania Sunshine Act. The resolution formalizes meeting dates 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 Mr. Cawley as Assistant Secretary/Treasurer. This election, held at the Board’s annual meeting, aligns with PICA’s bylaws and statutory requirements.

PICA approved the City of Philadelphia’s FY2019-FY2023 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.

The PICA Board met on June 19, 2018, to review financial reports, approve a contract extension for revenue consulting, and discuss overtime spending. The Board approved Resolution 2018-08, extending Charles Swanson’s contract for revenue forecasting.

PICA retained Parker Bond Consulting to provide arbitrage rebate consulting services for the reporting period ending June 30, 2018. The contract, valued at $4,000, ensures compliance with federal tax regulations regarding bond proceeds.

The FY18 Quarterly Overtime Report for Q3 shows that Philadelphia exhausted its entire overtime budget by the third quarter, with expenditures reaching $135.4 million.

Press Release announcing PICA report on the FY18Q3 QCMR. City Projects FY2018 Year-End Fund Balance Will Grow to $208 Million.