Publications

The Pennsylvania Intergovernmental Cooperation Authority (PICA) FY10 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 fourth quarter FY10 QCMR reports a final year-end deficit of $51.7 million, an $800,000 decline from Q3, with higher-than-expected obligations in employee benefits and street maintenance. Tax collections improved slightly, aided by $27 million from a tax amnesty program.

PICA's Staff Report on The Five-Year Financial Plan for FY11-15 evaluates the City's revenue and expenditure projections, identifies key financial risks, and assesses the impact of economic conditions on Philadelphia’s budget stability.

The third quarter FY10 QCMR projects a $50.9 million deficit, with ongoing revenue challenges and increased labor and infrastructure costs. Wage Tax collections stabilized slightly, but Sales Tax revenue dropped by another $7.5 million, and expenditures increased for employee benefits and snow removal.

The 2010 Bond Issuance Documents contain the Amended and Restated Indenture of Trust between the Pennsylvania Intergovernmental Cooperation Authority (PICA) and Meridian Bank as trustee, covering the issuance and management of bonds. It outlines the authorization, payment mechanisms, security pledges, and covenants related to these bonds, ensuring compliance with financial and legal obligations.

The Pennsylvania Convention Center Expansion Project report evaluates the financial implications of expanding the Pennsylvania Convention Center, including the shift of fiscal responsibility from the City to the Commonwealth. It discusses the projected costs, anticipated economic benefits, and key challenges related to labor costs and facility management.

The second quarter FY10 QCMR projects a $48.6 million deficit, a worsening of the financial outlook due to lower tax collections and increased spending. Wage and Sales Tax revenues fell, while snow removal costs and legal settlements increased obligations by $31.3 million.

The first quarter FY10 QCMR projects a negative $30.8 million fund balance, driven by weak Wage Tax collections and reductions in state grants. Despite this, the report notes that FY10's financial outlook is better than FY09, but still significantly lower than the Five-Year Plan projection.

A History We Can No Longer Afford: Consolidating Philadelphia’s Row Offices Issue Report examines the financial inefficiencies of maintaining four independently elected row offices and estimates potential savings of $13-15 million annually.

The Pennsylvania Intergovernmental Cooperation Authority (PICA) FY09 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 FY10-14 outlines Philadelphia’s revenue and expenditure forecasts, addressing key financial risks and strategies for maintaining balanced budgets across fiscal years 2010-2014.

The document contains the Amended and Restated Indenture of Trust between the Pennsylvania Intergovernmental Cooperation Authority (PICA) and Meridian Bank as Trustee. It outlines the authorization, terms, and security provisions of the bond issuance, including the payment structure, rights of bondholders, and financial covenants.

The Pennsylvania Intergovernmental Cooperation Authority (PICA) FY08 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 FY09-13 examines Philadelphia’s fiscal strategy, revenue trends, and budget challenges while identifying financial risks and expenditure controls.

The document outlines the issuance of $214,565,000 Special Tax Revenue Refunding Bonds by the Pennsylvania Intergovernmental Cooperation Authority (PICA) to support Philadelphia.

The Assessment of City Facilities: Summary of Report Findings and Analysis highlights Philadelphia’s substantial underinvestment in public infrastructure, identifying a $850 million shortfall and urgent capital improvement needs.