City of Philadelphia Tax Revenue Update for April 2016 General Fund tax collections through April increased by $117 million (4.8 percent) compared to the prior year However, growth rates for three major taxes – wage, business income and receipts, and sales – remain somewhat below currently projected growth for FY16 According to the City’s preliminary […]
On April 19, 2016, the PICA Board unanimously passed a resolution recognizing Suzanne Biemiller, who served with distinction as the Board’s Chair in 2015 and 2016. Click here to read the full resolution.
City of Philadelphia Tax Revenue Update for March 2016 Wage and earnings and real estate transfer tax collections continue to perform above projected growth rates Total FY16 City General Fund tax revenue increased 5.8 percent through March, as compared to the same period in FY15. According to the City’s preliminary revenue report, FY16 General Fund […]
Through February, City General Fund tax revenue increased 3.9 percent compared to the same period in FY15. Wage, sales, and real estate transfer taxes continue to perform well, and for these taxes the City has revised its FY16 projections upward. Projected FY16 business income and receipts tax revenue has been reduced due to lower-than-expected FY15 […]
PICA staff reports that in the City’s Quarterly City Manager’s Report (QCMR) for the second quarter of FY16, the City’s projected Fund Balance is $15.9 million higher than projected in the FY16-20 Five Year Financial Plan. This represents a projected increase of $3 million from the first quarter QCMR. Additionally, FY16 Genereal Fund tax revenue is projected […]
PICA today released “City of Philadelphia Performance: Measurement, Reporting and Accountability,” its first report on the performance of City government. The report analyzes the goals and performance measures of 21 key City departments. While the report’s findings cover the previous administration, the new Kenney Administration has reviewed the report and expressed a commitment to implementing […]
The PICA statute requires the Authority to file an annual report with Commonwealth and City officials “describing its progress with respect to restoring the financial stability of assisted cities and achieving balanced budgets for assisted cities…” The annual report for year ended June 30, 2015 includes an overview of PICA and its role, a discussion […]
For Special Pension Commission Report, click here. For Exhibit 1 – Comparison Study for Act 44 Benefit Plan Study, click here.