Publications

PICA’s FY23 Annual Overtime Report analyzes record-high overtime spending of $249.6 million, reflecting a 17.2% increase from FY22. The report highlights departmental overspending, staffing challenges, and trends impacting workforce management and budget performance.

PICA's Charting a Course for Fiscal and Climate Sustainability report examines the financial risks climate change poses to Philadelphia and explores strategies to integrate climate resilience into the City’s fiscal planning. The report highlights key investment areas, including infrastructure improvements, climate budgeting, and new revenue sources to fund long-term sustainability efforts.

PICA appointed Harvey M. Rice as a special advisor and agency consultant following his retirement as Executive Director, ensuring continuity in agency operations during the transition to a new director. Mr. Rice will provide consulting services until at least November 30, 2023, assisting with agency management and the onboarding of his successor.

The PICA Board met on September 28, 2023, to review financial reports, approve resolutions, and discuss the upcoming fall conference. The Board appointed Harvey Rice as Special Advisor and Agency Consultant (Resolution 2024-04).

The September 28, 2023, meeting agenda includes reports, an Executive Session, and a vote on Resolution No. 2024-04, appointing Harvey M. Rice as Special Advisor and Agency Consultant. The Board will also review overtime updates and hear public comment.

The fourth quarter FY23 QCMR projects General Fund revenues at $5.93 billion, $224.8 million above the Five-Year Plan, while obligations have increased to $6.06 billion, $214.8 million higher than expected. The final year-end fund balance is estimated at $682.5 million, $310.3 million above the Five-Year Plan estimate, representing 11.3% of obligations​.

PICA's Staff Report on The Five-Year Financial Plan for FY24-28 presents a financial roadmap for the City of Philadelphia, outlining revenue projections, expenditure trends, and key fiscal challenges. The plan highlights major risks such as economic volatility, pension funding, and overtime costs while proposing strategies for maintaining fiscal stability.

PICA approved its official meeting schedule for FY2024 and set the date for its FY2025 annual meeting, in compliance with the Pennsylvania Sunshine Act’s public notice requirements. The resolution ensures transparency by confirming the dates, times, and locations for Board meetings throughout the fiscal year.

PICA elected its officers for a one-year term, with Mr. Vaughan as Chairperson, Mr. Kessler as Vice Chairperson, Mr. Karp as Secretary/Treasurer, and Ms. Sutch as Assistant Secretary/Treasurer. This election, held at the Board’s annual meeting, aligns with PICA’s bylaws and statutory requirements.

PICA approved the City of Philadelphia’s FY2024-FY2028 Five-Year Financial Plan after determining that it meets all applicable legal and financial criteria outlined in the Pennsylvania Intergovernmental Cooperation Authority Act and the Intergovernmental Cooperation Agreement. This approval confirms the City’s financial projections and strategies for the next five years, ensuring compliance with statutory requirements.

The July 25, 2023, Annual Meeting agenda includes the approval of the FY2024-2028 Five-Year Financial Plan, Board Officer elections, and the FY2024 Meeting Schedule. The Board will also review reports from the Executive Director and Treasurer.

The PICA Board met on July 25, 2023, to approve the FY2024-2028 Five-Year Financial Plan and elect officers for the new fiscal year. Discussions covered budget projections, pension funding, and tax policy changes.

The PICA-City Intergovernmental Cooperation Agreement is a signed agreement between the City of Philadelphia and the Pennsylvania Intergovernmental Cooperation Authority outlining how they will interact in accordance with the PICA Act. This agreement was updated in June 2023 following amendments to the PICA Act that included extending the life of PICA until at least 2047.

The June 20, 2023, meeting agenda includes reports, votes on resolutions related to banking services, and discussions on seeking proposals for legal counsel. The Board will also review overtime updates and public comment.

The PICA Board met on June 20, 2023, to select a new depository bank and approve a revised City Account Agreement. The Board chose Firstrust Bank for depository banking services and authorized a temporary agreement with U.S. Bank (Resolutions 2023-14 and 2023-15).

PICA approved Firstrust Bank as the provider of Depository Banking Services for four fiscal years beginning July 1, 2023, with four one-year renewal options. This decision follows an RFP process and ensures the secure management of City revenue deposits.