Publications

The FY18 Quarterly Overtime Report for Q1 highlights that overtime spending reached $47 million in the first quarter, with seven key departments accounting for 93% of total costs.

The Update on the City of Philadelphia’s DROP Program evaluates the financial impact of the Deferred Retirement Option Plan (DROP) since its inception, highlighting a total estimated cost of $277.2 million and its effect on employee retirement ages. The report finds that DROP has increased the average retirement age by 1.7 years but continues to impose significant costs on the pension system.

The PICA Board met on November 21, 2017, to review financial reports, discuss capital project funding, and hear a presentation from the Philadelphia Chamber of Commerce. The Board approved Resolution 2018-05, reallocating $420,000 in funds for Free Library roof repairs.

PICA approved a capital project funding substitution to redirect $420,000 in surplus bond proceeds from a library facility assessment to roof repairs for several library locations. This action ensures that remaining funds are used effectively for critical infrastructure improvements.

The first quarter FY18 QCMR projects General Fund revenues at $4.47 billion, $74.6 million above the Five-Year Plan, while obligations are projected to rise by $64.7 million. The year-end fund balance is now estimated at $208.3 million, reflecting stronger-than-expected tax collections.

Press release announcing report on FY18Q1 overtime spending. City Spends $47 Million in Overtime in First Quarter, Seven Key Departments Responsible for 90 Percent of Spending

The PICA Board met on October 17, 2017, to review tax revenue collections, overtime spending, and financial audit results. The Board also received a presentation from the Office of Innovation and Technology (OIT) on IT infrastructure and cyber security concerns.

The Pennsylvania Intergovernmental Cooperation Authority (PICA) FY17 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.

Press Release about PICA's annual report on Overtime Spending for FY17. City Exceeds Overtime Budget for Seventh Consecutive Year, More than Half of City Departments Exceed Overtime Allocations in FY2017

PICA’s FY17 Annual Overtime Report analyzes $160.3 million in overtime spending, exceeding the City’s budgeted allocation by $31 million. The report evaluates departmental overspending, staffing trends, and the impact of national events and public demonstrations on overtime costs.

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.

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.

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'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.

Press Release announcing PICA report on the FY17Q4 QCMR. City of Philadelphia’s Estimated Fund Balance for FY2017 $48.3 Million Higher Than Projected

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.