Kevin Vaughan Re-elected Chair of PICA Board July 16, 2019—The Board of the Pennsylvania Intergovernmental Cooperation Authority (“PICA”) today unanimously approved the City of Philadelphia’s Five Year Plan for Fiscal Years 2020-2024 (the “Plan”). In approving the Plan, the Board held that the assumptions and estimates in the City’s Plan were reasonable and appropriate, and […]
Strong June Collections Drive Growth in FY2019 Collections Year-to-Date Collections Increase for Almost All Taxes The City collected approximately $210.4 million in General Fund tax revenue in June 2019, compared to $188.8 million in June 2018, an increase of approximately $21.6 million, or 11.4 percent, according to preliminary figures. Collections for every tax except the […]
Year-to-Date Collections Increase Seven Percent in FY2019 City Experiences Increases in Most Months This Fiscal Year The City collected approximately $263.1 million in General Fund tax revenue in May 2019, compared to $254.5 million in May 2018, an increase of almost $8.6 million, or 3.4 percent, according to preliminary figures. Thus, the City experienced another […]
Third Quarter Revenues and Expenditures Almost $100 Million Higher Than Projected in Five Year Plan FY2019 Fund Balance Projected at $280.0 Million May 22, 2019 —FY2019 revenues are projected at $4.72 billion and expenditures are projected at $4.82 billion, according to PICA’s Staff Report on the City of Philadelphia’s Quarterly City Managers Report (“QCMR”) for […]
City Sees Double-Digit Increase in April Tax Collections Strong April Also Drives Increase in Year-to-Date Collections The City collected approximately $642.2 million in General Fund tax revenue in April 2019, compared to $528.8 million in April 2018, an increase of $113.4 million, or 21.5 percent according to preliminary figures. Notably, business income and receipts (“BIRT”) […]
City Spends $133.1 Million On Overtime Through Third Quarter: PICA Issues Third Quarter Overtime U...
Preliminary reports show that overtime costs through the third quarter (July 1–March 31) of fiscal year 2019 totaled approximately $133.1 million, compared to almost $135.4 million over the same period last year—a decrease of $2.3 million, or 1.7 percent. More than half of the departments reviewed for this report1 managed to reduce their overtime spending […]