Publications

PICA’s Transportation Fund Fact Sheet examines the newly created fund, which centralizes revenue sources for street paving and transportation investments, reducing reliance on the General Fund.

PICA’s Measuring the Accuracy of Spending Projections issue brief assesses Philadelphia’s ability to project expenditures, finding it is the second-most accurate among 15 peer cities, with a mean error of ±2.0%.

The fourth quarter FY24 QCMR projects General Fund revenues at $5.95 billion, $66.5 million below the Five-Year Plan, while obligations have increased to $6.34 billion, $140.1 million higher than projected. The final year-end fund balance is estimated at $628.0 million, $99.0 million above the Five-Year Plan, representing 10.6% of revenues​.

The FY25 Police Court Overtime Progress report highlights the City’s successful efforts in reducing excessive overtime costs related to police testimony, achieving an $8 million reduction since FY18.

The PICA Board met on July 25, 2024, to approve the FY2025-2029 Five-Year Financial Plan, elect Board Officers, and approve the FY25 Board Meeting Calendar. The Board discussed financial risks, including staffing shortages, pension obligations, and declining fund balances.

El informe del personal de PICA recomienda la aprobación del Plan Quinquenal de los Años Fiscales 2025-2029 de la Ciudad de Filadelfia, ya que cumple con los criterios de la Ley de PICA. Destaca saldos de fondos positivos, una calificación crediticia mejorada, contribuciones al Fondo de Estabilización Presupuestaria y el progreso hacia la plena financiación del sistema de pensiones​Resumen-Ejecutivo-PICA-….

The July 25, 2024, meeting agenda includes reports, public comment, and votes on resolutions approving the Five-Year Plan, Board Officer elections, and the FY25 Board Meeting Schedule. The Board will also review updates from the City of Philadelphia.

PICA approved its meeting schedule for FY2025 and set the annual meeting date for FY2026, ensuring compliance with the Pennsylvania Sunshine Act. The resolution formalizes meeting dates, times, 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 Ms. Sutch 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 FY2025-FY2029 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's Staff Report on The Five-Year Financial Plan for FY25-29 presents Philadelphia’s fiscal outlook, revenue and expenditure projections, and potential budgetary risks over a five-year period.

PICA’s Fact Sheet on the City of Philadelphia's Submitted Five-Year Financial Plan (FY25-29) reflects updates made following budget negotiations, incorporating revised revenue and expenditure estimates. The plan projects a General Fund balance decline from $569 million in FY25 to $66 million in FY29, includes operating deficits in all years, and commits over $10 billion to capital projects.

PICA’s Revenue Prediction Precision issue brief analyzes Philadelphia’s accuracy in forecasting revenues compared to 11 peer cities, finding that the City is among the most precise, with a mean error of ±4.0%.

The PICA Board met on June 18, 2024, to approve auditing and accounting service contracts for the Authority. The Board also discussed the upcoming FY2025-2029 Five-Year Plan and financial challenges facing the City.

PICA retained J. Miller & Associates, LLC to provide accounting services for the fiscal year ending June 30, 2025, with four one-year renewal options. The engagement follows a competitive RFP process in which J. Miller was the sole respondent and was deemed qualified for the role.

PICA reappointed Maher Duessel, LLP to provide financial auditing services for the fiscal year ending June 30, 2025, with four one-year renewal options. The selection followed a competitive RFP process in which Maher Duessel was the sole respondent and was deemed the best-qualified firm.