Publications

The PICA Board met on January 19, 2016, to discuss City budget processes, pension fund performance, and the impact of state budget delays on Philadelphia. The Board also reviewed tax revenue trends and the transition to program-based budgeting for FY17.

The J. Miller Associates Signed Engagement Letter 01_06_16 outlines the scope of work for accounting services to be provided to PICA for FY16.

The document provides a collection of links to 2016 news articles covering Philadelphia’s financial challenges, including overtime overspending, pension fund concerns, DROP program costs, and calls for improved city performance metrics. Articles discuss PICA’s oversight role and its warnings about Philadelphia’s long-term financial stability​.

The Pennsylvania Intergovernmental Cooperation Authority (PICA) FY15 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 first quarter FY16 QCMR projects General Fund revenues at $3.93 billion, $24.0 million above the Five-Year Plan, while obligations have risen to $4.02 billion, $23.3 million higher than projected. The year-end fund balance is projected at $82.2 million, $12.9 million above the Five-Year Plan estimate.

The PICA Board met on November 17, 2015, to review the annual audit report, discuss the financial impact of the Pope’s visit, and address City overtime costs. The Board also raised concerns over a new $83 million Unified Call Center contract.

The PICA Board met on October 20, 2015, to review tax revenue performance, discuss the backlog of real estate tax appeals, and assess the financial impact of the Pope’s visit. The Board also debated hiring external contractors to expedite property assessment appeals.

The PICA Board met on September 22, 2015, to approve the FY16 meeting schedule, discuss the delayed resolution of real estate tax appeals, and review City overtime costs. The Board also debated strategies to improve tax revenue collection and fiscal transparency.

PICA approved the official meeting schedule for FY2016 and set the date for its FY2017 annual meeting, ensuring compliance with the Pennsylvania Sunshine Act. The resolution formalizes meeting dates and locations for the Authority’s fiscal year.

The fourth quarter FY15 QCMR reports General Fund revenues at $3.77 billion, a $658.3 million decline from the original Five-Year Plan due largely to the unrealized Philadelphia Gas Works (PGW) sale. Obligations are projected at $3.84 billion, reflecting a $683.7 million reduction, with a final year-end fund balance of $144.8 million.

PICA's Staff Report on The Five-Year Financial Plan for FY16-20 outlines Philadelphia’s revenue and expenditure forecasts, addressing key financial risks and strategies for maintaining balanced budgets across fiscal years 2016-2020.

The PICA Board met on July 16, 2015, to approve the FY2016-2020 Five-Year Financial Plan, elect officers, and discuss pension fund investment challenges. The Board debated the City’s assumptions about long-term revenue growth and labor costs.

PICA approved the City of Philadelphia’s FY2016-FY2020 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 elected its officers for a one-year term, appointing Ms. Biemiller as Chairperson, Mr. Karp as Vice Chairperson, Mr. McColgan as Secretary/Treasurer, and Mr. Rost as Assistant Secretary. This election, held at the Board’s annual meeting, aligns with PICA’s bylaws and statutory requirements.

The PICA Board met on June 16, 2015, to review budget expenditures, discuss real estate tax appeals, and assess pension fund risks. The Board debated strategies for improving City tax collections and resolving backlogged property tax assessments.

The PICA Board met on May 19, 2015, to approve the FY16 Operating Budget, review financial reports, and discuss the Five-Year Plan review process. The Board approved the budget and discussed City department funding needs, tax revenue trends, and costs related to the Pope’s visit.