Publications

The fourth quarter FY11 QCMR projects General Fund revenues to exceed the Five-Year Plan by $46.7 million, while obligations rise by $14.9 million. The final year-end fund balance is estimated at just $3.5 million, significantly below the original projection.

PICA's Staff Report on The Five-Year Financial Plan for FY12-16 assesses Philadelphia’s financial strategies for maintaining balanced budgets while addressing economic challenges, revenue constraints, and expenditure pressures.

The third quarter FY11 QCMR projects General Fund revenues at $79.5 million above the Five-Year Plan, though obligations are $46.0 million higher than expected. The projected year-end fund balance declines to $5.1 million, reflecting increased personnel costs and slower-than-expected reimbursements.

The second quarter FY11 QCMR projects General Fund revenues to be $84.3 million above the Five-Year Plan, largely due to higher tax collections and intergovernmental aid. However, increased obligations reduce the expected year-end fund balance to $13.5 million, which is $20.4 million below the Plan estimate.

The first quarter FY11 QCMR projects a General Fund balance of $33.7 million, $0.8 million higher than the Five-Year Plan projection. The report attributes this improvement to higher-than-expected tax revenue collections, though rising employee benefit costs remain a concern.

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.