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Featured Publications
PICA Reports on Philadelphia's Financial Reports
PICA Staff Report on QCMR
QCMR Summary FY26 Q4
September 1, 2026
Philadelphia’s FY26 Q4 QCMR projects an $884.4 million year-end General Fund balance, equal to 14.0 percent of revenues, with revenues and obligations both at 99.4 percent of the PICA-approved FY26-30 Five-Year Plan. The improved fund balance reflects the unused $91.0 million Federal Funding Reserve and a stronger starting position from FY25, while the City still…
PICA Reports on Philadelphia's Financial Reports
PICA Staff Report on Quarterly Overtime
Quarterly OT Report FY26 Q4
September 1, 2026
Philadelphia’s FY26 projected year-end citywide overtime spending totals $318.5 million, a 1.1 percent increase over FY25, while overtime as a share of Class 100 spending declines from 14.2 percent to 13.2 percent. Special events, pay increases, and continued vacancies remain key drivers of overtime costs, though improved staffing helped reduce the citywide vacancy rate from…
PICA Reports on Philadelphia's Five-Year Plan
Fact Sheet
Looking Backwards and Looking Ahead: The City of Philadelphia’s Fiscal Performance & Projections
August 17, 2026
Philadelphia’s recent fiscal performance and FY27-31 projections show a transition from strong reserve buildups from FY21-25 to a Five-Year Plan shaped by planned investments, operating deficits, and lower reserve levels. Pension funding and General Fund revenues are projected to improve over the Plan period, while long-term obligations are expected to peak in FY29 before returning…
Board Materials
Minutes
September 19, 2017 Board Meeting Minutes
September 19, 2017
The PICA Board met on September 19, 2017, to approve a bond refunding resolution and review the Police Court Overtime Study findings. The Board approved Resolution 2020-05, authorizing bond refunding while highlighting the need for better cost control.
News Articles and Press Releases
Press Release
PICA Board Approves City’s Revised FY2018-FY2022 Five Year Plan
September 19, 2017
Press Release announcing that the PICA Board Approves City’s Revised FY2018-FY2022 Five Year Plan and that Board Voices Concerns Over Arbitration Award Costs.
Board Materials
Resolution
Resolution 2018-04 Approval of 2018-2022 Revised Five-Year Plan
September 19, 2017
PICA approved a revised Five-Year Financial Plan for FY2018-FY2022 to incorporate the costs of an arbitration award for police officers represented by the Fraternal Order of Police. The revised plan ensures compliance with statutory requirements and reflects updated financial projections.
PICA Reports on Philadelphia's Five-Year Plan
Staff Report on the City of Philadelphia's Five-Year Plan
PICA Staff Report on the City of Philadelphia’s FY18-22 Five-Year Plan as Revised in September 2017
September 19, 2017
PICA's Staff Report on The Five-Year Financial Plan for FY18-22 (Revised Sept) updates Philadelphia’s fiscal projections, revising revenue expectations, expenditure allocations, and fund balance estimates to align with evolving economic conditions and policy priorities.
News Articles and Press Releases
Press Release
City of Philadelphia’s Estimated Fund Balance for FY2017 $48.3 Million Higher Than Projected
August 31, 2017
Press Release announcing PICA report on the FY17Q4 QCMR. City of Philadelphia’s Estimated Fund Balance for FY2017 $48.3 Million Higher Than Projected
PICA Reports on Philadelphia's Financial Reports
PICA Staff Report on QCMR
QCMR Report FY17 Q4
August 18, 2017
The fourth quarter FY17 QCMR projects General Fund revenues at $4.19 billion, $44.8 million above the Five-Year Plan, while obligations are projected at $4.25 billion, an increase of $51.3 million. The final year-end fund balance is estimated at $127.2 million, reflecting stronger-than-expected revenue growth.
Board Materials
Minutes
July 18, 2017 Board Meeting Minutes
July 18, 2017
The PICA Board met on July 18, 2017, to approve the FY2018-2022 Five-Year Financial Plan and elect Board officers. The Board approved Resolution No. 1, endorsing the plan while discussing concerns over pension funding and school district finances.
News Articles and Press Releases
Press Release
PICA Board Unanimously Approves City of Philadelphia’s FY2018 to FY2022 Five Year Plan
July 18, 2017
Press Release announcing that the PICA Board Unanimously Approves City of Philadelphia’s FY2018 to FY2022 Five Year Plan and Kevin Vaughan Re-elected Chair of PICA Board
Board Materials
Resolution
Resolution 2018-03 Approval of FY18 Board Meeting Schedule
July 18, 2017
PICA approved the official meeting schedule for FY2018 and set the date for its FY2019 annual meeting, ensuring compliance with the Pennsylvania Sunshine Act. The resolution formalizes meeting dates and locations for the Authority’s fiscal year.
Board Materials
Resolution
Resolution 2018-02 Election of Board Officers
July 18, 2017
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. This election, held at the Board’s annual meeting, aligns with PICA’s bylaws and statutory requirements.
Board Materials
Resolution
Resolution 2018-01 Approval of FY18-22 Five-Year Plan
July 18, 2017
PICA approved the City of Philadelphia’s FY2018-FY2022 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 Reports on Philadelphia's Five-Year Plan
Staff Report on the City of Philadelphia's Five-Year Plan
PICA Staff Report on the City of Philadelphia’s FY18-22 Five-Year Plan
July 18, 2017
PICA's Staff Report on The Five-Year Financial Plan for FY18-22 provides a comprehensive financial strategy for Philadelphia, integrating revenue forecasts, expenditure projections, and fiscal policy recommendations.
Board Materials
Minutes
June 20, 2017 Board Meeting Minutes
June 20, 2017
The PICA Board met on June 20, 2017, to discuss the City’s FY2018-2022 Five-Year Financial Plan review process, tax revenue trends, and arbitration settlement costs. The Board approved Resolution No. 12, engaging Parker Bond Consulting for arbitrage services.
Board Materials
Resolution
Resolution 2017-12 Approval of Arbitrage Rebate Services
June 20, 2017
PICA retained Parker Bond Consulting to provide arbitrage rebate consulting services for the reporting period ending June 30, 2017. The contract, valued at $4,000, ensures compliance with federal tax regulations regarding bond proceeds.
PICA Reports on Philadelphia's Financial Reports
PICA Staff Report on Quarterly Overtime
Quarterly OT Report FY17 Q3
June 1, 2017
The FY17 Quarterly Overtime Report for Q3 finds that Philadelphia spent 90% of its overtime budget by the third quarter, totaling $116.5 million.
News Articles and Press Releases
Press Release
FY2017 Obligations Projected to Outpace Revenues by $65 Million
May 30, 2017
Press Release announcing PICA report on the FY17Q3 QCMR. FY2017 Obligations Projected to Outpace Revenues by $65 Million.