Specific reports can be found by searching or filtering our publications.
Featured Publications
Budget Structure and Process
Fact Sheet
Revenue Fact Sheet: Property-related Taxes
February 18, 2026
Philadelphia’s Real Estate Tax and Realty Transfer Tax together generate about one-fifth of General Fund revenues, making them the City’s second largest revenue source. While the Real Estate Tax grows relatively steadily with property values and revaluations, the Realty Transfer Tax is far more volatile, responding sharply to interest rates, transaction volume, and high-value commercial…
Budget Structure and Process
Fact Sheet
Revenue Fact Sheet: Sales Tax
February 10, 2026
Philadelphia’s local Sales Tax provides a stable and growing source of General Fund revenue, supporting City operations, the School District of Philadelphia, and long-term pension funding. From FY16 to FY25, Sales Tax collections grew at a 7.0 percent annual rate, outpacing overall General Fund revenue growth. Looking ahead, Sales Tax revenue is projected to continue…
Budget Structure and Process
Issue Brief
5 Wishes for the FY27-31 5YP
January 21, 2026
As the City of Philadelphia prepares its FY27–31 Five-Year Financial Plan, PICA outlines five recommendations to strengthen the Plan’s transparency and accuracy and to improve the City’s fiscal condition. These include maintaining reserves and pension funding commitments, scoping initiatives more accurately, ensuring an adequate labor reserve, publishing capital spending data, and making staff vacancy assumptions…
PICA Reports on Philadelphia's Financial Reports
PICA Staff Report on QCMR
QCMR Report FY16 Q2
February 18, 2016
The second quarter FY16 QCMR projects General Fund revenues at $3.96 billion, $52.0 million above the Five-Year Plan, while obligations are projected at $4.04 billion, $44.3 million higher than initial estimates. The year-end fund balance is now projected at $85.3 million, an increase from earlier projections.
Board Materials
Minutes
February 16, 2016 Board Meeting Minutes
February 16, 2016
The PICA Board met on February 16, 2016, to review financial reports, approve the FY17 PICA Operating Budget, and discuss City pension issues. The Board approved a resolution urging the City to adopt pension reforms while debating funding strategies for the pension system.
Board Materials
Resolution
Resolution 2016-05 Encouraging Pension Reform
February 16, 2016
PICA issued a formal resolution urging Philadelphia officials to enact pension reform measures based on findings from the 2015 City Pension Report. The resolution highlights the growing costs and financial instability of the City’s pension system and calls for increased employee contributions and a broader adoption of the hybrid pension plan.
Board Materials
Resolution
Resolution 2016-04 Approval of FY17 PICA Operating Budget
February 16, 2016
PICA approved its FY2017 Operating Budget, ensuring continued funding for the Authority’s financial oversight responsibilities. The approved budget will be submitted to the Governor and General Assembly of Pennsylvania.
News Articles and Press Releases
Press Release
PICA Releases First Annual Report on City Departments Goals and Performance Measures
February 10, 2016
Press Release announcing that PICA Releases First Annual Report on City Departments Goals and Performance Measures.
Government Operations, Efficiency, & Performance
Issue Paper
City of Philadelphia Performance: Measurement, Reporting, and Accountability
February 1, 2016
The City of Philadelphia Performance report assesses the City's ability to track and disclose performance metrics, finding gaps in strategic planning, goal-setting, and accountability.
Board Materials
Minutes
January 19, 2016 Board Meeting Minutes
January 19, 2016
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.
Contracts
Contract
J. Miller Associates Signed Engagement Letter 01_06_16
January 6, 2016
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.
News Articles and Press Releases
News Article
Links to various 2016 News Articles
January 1, 2016
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.
PICA Annual Report
Annual Report
PICA Annual Report FY2015
December 15, 2015
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.
PICA Reports on Philadelphia's Financial Reports
PICA Staff Report on QCMR
QCMR Report FY16 Q1
November 18, 2015
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.
Board Materials
Minutes
November 17, 2015 Board Meeting Minutes
November 17, 2015
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.
Board Materials
Minutes
October 20, 2015 Board Meeting Minutes
October 20, 2015
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.
Board Materials
Minutes
September 22, 2015 Board Meeting Minutes
September 22, 2015
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.
Board Materials
Resolution
Resolution 2016-02 Approval of FY16 Board Meeting Schedule
September 22, 2015
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.
PICA Reports on Philadelphia's Financial Reports
PICA Staff Report on QCMR
QCMR Report FY15 Q4
August 18, 2015
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.
