Publications

An Ounce of Prevention: Managing the Ballooning Liability of Philadelphia’s Pension Fund' examines the City’s pension crisis, highlighting a $2.9 billion unfunded liability and projected cost increases of 76% from FY01 to FY06. The report urges immediate reforms, including adjusting benefit structures and funding policies to improve the pension fund’s health.

The first quarter FY06 QCMR projects a General Fund balance of $142.5 million, a $120.3 million improvement from the Five-Year Plan, due to strong tax revenues and expenditure control. However, rising employee benefits and fuel costs present ongoing financial risks.

The Pennsylvania Intergovernmental Cooperation Authority (PICA) FY05 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.

The From Virtual Realty to Full Value Realty: Preparing for Reassessment report evaluates Philadelphia’s transition to full-value property assessments and the fiscal and policy implications of the change. It discusses the potential impact on property tax revenue, municipal debt limits, and taxpayer burdens, while recommending strategies to ensure a fair and transparent reassessment process.

The fourth quarter FY05 QCMR reports a projected General Fund balance of $26.7 million, in line with the Five-Year Plan. However, growing pension and health care costs, coupled with revenue reliance on volatile sources, pose long-term risks.

PICA's Staff Report on The Five-Year Financial Plan for FY06-10 reviews Philadelphia’s budgetary strategy, with a focus on debt service obligations, expenditure reductions, and economic development initiatives.

The Pennsylvania Intergovernmental Cooperation Authority (PICA) FY04 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 Staff Report on The Five-Year Financial Plan for FY05-09 assesses Philadelphia’s budgetary trajectory, highlighting potential risks and proposing strategies for maintaining fiscal balance.

The Crime of Inefficiency: The Cost of Policing in Philadelphia examines inefficiencies in the Philadelphia Police Department, highlighting excessive staffing levels, high overtime expenditures, and ineffective management practices.

The Pennsylvania Intergovernmental Cooperation Authority (PICA) FY03 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 Staff Report on The Five-Year Financial Plan for FY04-08 examines Philadelphia’s financial outlook, assessing projected revenues, major expenditure categories, and policy initiatives to ensure fiscal sustainability.

The document outlines the Amended and Restated Indenture of Trust between PICA and Meridian Bank as Trustee, governing the issuance and repayment of bonds. It details the security structure, payment mechanisms, and legal covenants ensuring compliance with tax and financial regulations.

The Pennsylvania Intergovernmental Cooperation Authority (PICA) FY02 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 Staff Report on The Five-Year Financial Plan for FY03-07 evaluates Philadelphia’s fiscal strategies, with an emphasis on revenue diversification, service efficiency improvements, and capital investment planning.

The document outlines financial agreements related to PICA's 1999 bond issuance, including an interest rate swap transaction with JPMorgan Chase. It details payment schedules, notional amounts, and swap rate structures, along with provisions for termination and settlement.

The Pennsylvania Intergovernmental Cooperation Authority (PICA) FY01 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.