Publications

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.

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.

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.

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.

Press Release announcing that PICA Releases First Annual Report on City Departments Goals and Performance Measures.

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.

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.