Publications

The PICA Board met on May 22, 2018, to review quarterly financial reports, discuss labor contract negotiations, and approve an auditing services contract. The Board approved Resolution 2018-07, engaging Maher Duessel for financial auditing.

PICA approved a request from the City of Philadelphia to defer the submission of a required Five-Year Financial Plan revision related to a new arbitration award for the International Association of Fire Fighters (IAFF). The City will instead include the financial impact of the award in its upcoming FY2019-FY2023 Plan.

The third quarter FY18 QCMR projects General Fund revenues at $4.47 billion, $64.1 million above the Five-Year Plan, while obligations have risen to $4.47 billion, $37.2 million higher than projected. The year-end fund balance is now expected to be $208.3 million, reflecting continued strong revenue performance despite growing expenditure obligations.

Press Release announcing PICA Report on FY18Q3 overtime spending. City Spends Entire Overtime Allocation Through Third Quarter, Departments Spent $19 Million More in FY2018 Than at Same Time Last Year

The PICA Board met on April 17, 2018, to discuss economic forecasts, tax collection performance, and the impact of remote work on revenue projections. The Board also reviewed upcoming budget priorities and ongoing litigation affecting City finances.

PICA authorized the selection of a consultant to conduct a study on the causes and solutions for City-incurred overtime costs, particularly within the Philadelphia Police Department. The Executive Director was granted authority to negotiate a contract, subject to final Board approval.

PICA approved a new office lease to replace its current lease, which was set to expire on August 31, 2018. The Executive Director was authorized to negotiate and execute a lease agreement for a new six-year term.

PICA reappointed J. Miller & Associates, LLC to provide accounting services for the fiscal year ending June 30, 2018, with two additional one-year renewal options. This engagement ensures continuity in financial reporting and compliance.

PICA retained Charles Swanson to review and analyze revenue assumptions in the City’s FY2019-FY2023 Five-Year Financial Plan, for a fee not exceeding $9,000. This engagement ensures PICA can assess the accuracy and reasonableness of the City’s financial projections.

PICA approved a revised Five-Year Financial Plan for FY2018-FY2022 to incorporate the costs of arbitration awards for Correctional Officers, Sheriff’s Officers, and Register of Wills employees. The revised plan ensures compliance with statutory requirements and reflects updated financial projections.

PICA's Staff Report on The Five-Year Financial Plan for FY18-22 (Revised Apr) presents updated financial projections and budgetary priorities for the City of Philadelphia over the fiscal years 2018-2022, incorporating adjustments to revenue estimates, expenditure forecasts, and fund balance projections.

Philadelphia police officers accrued $12 million in overtime during the first seven months of FY18 just waiting to testify in court, contributing to the department exceeding its $57 million overtime budget with five months left in the fiscal year. PICA estimates that the city is on track to overspend its total $135 million overtime budget by $30 million, with police overtime as a major cost drive.

The FY18 Quarterly Overtime Report for Q2 shows that Philadelphia’s overtime spending reached $92.7 million through the second quarter, with costs increasing over the previous year despite prior reductions.

This press release announcies PICA's analysis of the FY18Q2 Quarterly City Manager's Report. It found that the City’s FY2018 Revenue Collections Increase by $127 Million Through Second Quarter

The PICA Board met on February 20, 2018, to approve the FY2019 PICA Operating Budget and discuss tax revenue projections. The Board approved Resolution 2018-06, adopting the budget while highlighting concerns about rising overtime costs.

PICA approved its FY2019 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.