Publications

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.

The Pennsylvania Intergovernmental Cooperation Authority (PICA) FY07 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 FY07 QCMR projects a final year-end General Fund balance of $215.7 million, consistent with the Five-Year Plan. Revenue collections exceeded projections, but rising pension, healthcare, and debt service costs remain concerns.

PICA's Staff Report on The Five-Year Financial Plan for FY08-12 analyzes Philadelphia’s financial risks, including pension obligations, healthcare costs, and revenue projections.

The third quarter FY07 QCMR maintains a projected General Fund balance of $171.7 million, with continued revenue growth offset by rising costs. The City remains at risk of long-term budget imbalances if expenditure trends continue.

The FY07 'City Budget Behind Bars: Increasing Prison Population Drives Rapidly Escalating Costs' Issue Report explores the financial strain of Philadelphia’s rising incarceration rates, with prison costs outpacing other public safety investments.

The second quarter FY07 QCMR projects a General Fund balance of $171.7 million, a decrease from the prior quarter due to continued expenditure growth. Revenue projections remain strong, but long-term fiscal risks persist.

The first quarter FY07 QCMR projects a General Fund balance of $198.4 million, higher than the Five-Year Plan projection but lower than the prior year due to rising costs in pensions, healthcare, and debt service. Strong wage and business privilege tax collections offset some financial risks.

The Health and Medical Benefits: Burning a Hole in the Budget report examines the rapid growth of Philadelphia’s health benefits costs, which have outpaced other expenditures despite a declining workforce. It provides recommendations for controlling these costs, including better vendor management, wellness programs, and potential plan design changes.

The Pennsylvania Intergovernmental Cooperation Authority (PICA) FY06 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 Look Before You Leap? The Fiscal Situation that Awaits the Next Mayor report from FY07 outlines the financial challenges facing Philadelphia's next mayor, including pension costs, healthcare expenses, and infrastructure needs. It warns of a declining general fund balance and rising long-term financial obligations.