Wage, Earnings and Net Profits Taxes Increase in Second Month of FY2021 The City collected approximately $232.7 million in General Fund tax revenue in August of FY2021, compared to $214.7 million in August FY2020, an increase of approximately $18.0 million, or 8.4 percent. The City portion of the wage, earnings, and net profits taxes increased […]
PICA Issues First Monthly Obligations Update
Obligations Through August Slightly Ahead of City’s Spending Projections September 14, 2020 —PICA today issued its first Monthly City Obligations Update. This new report commenced as a result of the PICA Board’s concerns about the City’s spending in light of the COVID-19 pandemic and its impact on the economy. At the PICA Annual Board meeting, […]
PICA’s Staff Report on City’s Q4 Quarterly City Managers Report
City’s Fourth Quarterly City Managers Report Projects $254 Million General Fund Balance for FY2020 September 2, 2020 —FY2020 revenues are estimated at $4.860 billion and obligations are estimated at $5.087 billion, according to PICA’s Staff Report on the City of Philadelphia’s Quarterly City Managers Report (“QCMR”) for the fourth quarter (period ending June 30, 2020). […]
City’s Spends Over $200 Million in OT in FY2020
August 28, 2020 —The Pennsylvania Intergovernmental Cooperation Authority’s (“PICA”) Annual Overtime Report for FY2020 showed City of Philadelphia overtime costs totaled $201.4 million, $28.4 million more than last year. The City’s FY2020 overtime costs far surpass the previous high spending total of $179.4 million, set in FY2018. Additionally, PICA’s analysis found City departments spent 120.9 […]
PICA Issues Monthly Tax Revenue Update for July
Wage, Earnings and Net Profits, Sales Taxes Decrease in First Month of FY2021 BIRT, Total Collections High Due To Extended Deadline The City collected approximately $479.2 million in General Fund tax revenue in July of FY2021, compared to $253.7 million in July FY2020, an increase of approximately $225.6 million, or 88.9 percent. However, these totals […]
PICA Issues Monthly Tax Revenue Update for June
Most Major Taxes Decrease by 20 Percent in June Tax Collections Decrease by More Than 7 Percent in FY2020 The City collected approximately $182.9 million in General Fund tax revenue in June of FY2020, compared to $189.0 million in June FY2019, a decrease of approximately $6.1 million, or -3.2 percent, according to preliminary figures. Most […]
