Under the PICA Act, the Authority is administered by a governing Board consisting of five voting members and two ex-officio non-voting members. The Governor, the President pro tempore of the Senate, the Minority Leader of the Senate, the Speaker of the House of Representatives and the Minority Leader of the House of Representatives each appoints one voting member of the Board. Each Board member serves at the pleasure of his or her appointing authority for a two-year term.
The Secretary of the Budget of the Commonwealth of Pennsylvania and the Director of Finance of the City of Philadelphia serve as ex-officio members of the Board. The ex-officio members have no voting rights, are not counted for purposes of establishing a quorum and may designate in writing a representative of their respective offices to attend Board meetings on their behalf.