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Featured Publications
PICA Reports on Philadelphia's Five-Year Plan
Staff Report on the City of Philadelphia's Five-Year Plan
PICA Staff Report on the City of Philadelphia’s FY26-30 Five-Year Financial Plan
July 28, 2025
PICA’s Staff Report recommends PICA Board approval of the City of Philadelphia’s FY26–30 Five-Year Plan because it meets the requirements of the PICA Act, projecting positive year-end fund balances despite planned operating deficits from FY26 to FY29. The report highlights reasonable economic and revenue assumptions, the City’s continued investments in reserves, and the substantial $379…
Board Materials
Agenda
Annual Board Meeting Agenda for July 28, 2025
July 21, 2025
The Board will meet to review updates from the City and staff, including reports from the Executive Director and Treasurer, followed by an opportunity for public comment. Members will consider and vote on five resolutions, including approval of the FY26–30 Five-Year Plan, renewals of audit and accounting services, election of Board officers, and the FY26…
PICA Reports on Philadelphia's Five-Year Plan
Fact Sheet
Adopted FY26-30 Five-Year Plan Fact Sheet
July 1, 2025
Following City Council approval of the FY26 budget and the Mayor signing the budget bills into law, the Parker Administration has updated the Five-Year Financial Plan for Fiscal Years 2026 through 2030 (FY26-30) to reflect amendments to the FY26 budget and updated expectations for expenditures and collections over the life of the Plan. The FY26-30…
Revenue Analysis & Outlook
Issues Report
From Virtual Realty to Full Value Realty: Preparing for Reassessment
October 20, 2005
The From Virtual Realty to Full Value Realty: Preparing for Reassessment report evaluates Philadelphia’s transition to full-value property assessments and the fiscal and policy implications of the change. It discusses the potential impact on property tax revenue, municipal debt limits, and taxpayer burdens, while recommending strategies to ensure a fair and transparent reassessment process.
PICA Reports on Philadelphia's Financial Reports
PICA Staff Report on QCMR
QCMR Report FY05 Q4
August 18, 2005
The fourth quarter FY05 QCMR reports a projected General Fund balance of $26.7 million, in line with the Five-Year Plan. However, growing pension and health care costs, coupled with revenue reliance on volatile sources, pose long-term risks.
PICA Reports on Philadelphia's Five-Year Plan
Staff Report on the City of Philadelphia's Five-Year Plan
PICA Staff Report on the City of Philadelphia’s FY06-10 Five-Year Plan
August 8, 2005
PICA's Staff Report on The Five-Year Financial Plan for FY06-10 reviews Philadelphia’s budgetary strategy, with a focus on debt service obligations, expenditure reductions, and economic development initiatives.
PICA Annual Report
Annual Report
PICA Annual Report FY2004
October 1, 2004
The Pennsylvania Intergovernmental Cooperation Authority (PICA) FY04 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 Five-Year Plan
Staff Report on the City of Philadelphia's Five-Year Plan
PICA Staff Report on the City of Philadelphia’s FY05-09 Five-Year Plan
July 7, 2004
PICA's Staff Report on The Five-Year Financial Plan for FY05-09 assesses Philadelphia’s budgetary trajectory, highlighting potential risks and proposing strategies for maintaining fiscal balance.
Government Operations, Efficiency, & Performance
White Paper
The Crime of Inefficiency: The Cost of Policing in Philadelphia
March 9, 2004
The Crime of Inefficiency: The Cost of Policing in Philadelphia examines inefficiencies in the Philadelphia Police Department, highlighting excessive staffing levels, high overtime expenditures, and ineffective management practices.
PICA Annual Report
Annual Report
PICA Annual Report FY2003
October 1, 2003
The Pennsylvania Intergovernmental Cooperation Authority (PICA) FY03 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 Five-Year Plan
Staff Report on the City of Philadelphia's Five-Year Plan
PICA Staff Report on the City of Philadelphia’s FY04-08 Five-Year Plan
June 26, 2003
PICA's Staff Report on The Five-Year Financial Plan for FY04-08 examines Philadelphia’s financial outlook, assessing projected revenues, major expenditure categories, and policy initiatives to ensure fiscal sustainability.
PICA Capital Financing
Bond Documents
2003 Bond Issuance Documents
June 1, 2003
The document outlines the Amended and Restated Indenture of Trust between PICA and Meridian Bank as Trustee, governing the issuance and repayment of bonds. It details the security structure, payment mechanisms, and legal covenants ensuring compliance with tax and financial regulations.
PICA Annual Report
Annual Report
PICA Annual Report FY2002
October 15, 2002
The Pennsylvania Intergovernmental Cooperation Authority (PICA) FY02 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 Five-Year Plan
Staff Report on the City of Philadelphia's Five-Year Plan
PICA Staff Report on the City of Philadelphia’s FY03-07 Five-Year Plan
June 18, 2002
PICA's Staff Report on The Five-Year Financial Plan for FY03-07 evaluates Philadelphia’s fiscal strategies, with an emphasis on revenue diversification, service efficiency improvements, and capital investment planning.
PICA Capital Financing
Bond Documents
1999 Bond Issuance Documents
May 1, 2002
The document outlines financial agreements related to PICA's 1999 bond issuance, including an interest rate swap transaction with JPMorgan Chase. It details payment schedules, notional amounts, and swap rate structures, along with provisions for termination and settlement.
PICA Annual Report
Annual Report
PICA Annual Report FY2001
October 16, 2001
The Pennsylvania Intergovernmental Cooperation Authority (PICA) FY01 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 Five-Year Plan
Staff Report on the City of Philadelphia's Five-Year Plan
PICA Staff Report on the City of Philadelphia’s FY02-06 Five-Year Plan
May 15, 2001
PICA's Staff Report on The Five-Year Financial Plan for FY02-06 outlines Philadelphia’s financial forecast, addressing concerns related to workforce reductions, tax policy changes, and debt restructuring.
Reserves and Fiscal Stability
White Paper
Philadelphia’s Fiscal Challenge: Finding a Way to Save
November 16, 2000
The Philadelphia’s Fiscal Challenge: Finding a Way to Save report advocates for the establishment of a rainy day fund to prepare for economic downturns and fiscal uncertainties. It examines financial practices in other cities and argues for proactive measures to strengthen the City's financial resilience.
PICA Annual Report
Annual Report
PICA Annual Report FY2000
October 16, 2000
The Pennsylvania Intergovernmental Cooperation Authority (PICA) FY00 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.