Projected Revenues and Obligations Both Reach $5 Billion City Projects FY2020 Fund Balance of Over $350 Million February 26, 2020 —The City projects increases in both revenues and expenses of over $90 million, according to PICA’s Staff Report on the City of Philadelphia’s Quarterly City Managers Report (“QCMR”) for the second quarter (October 1 – […]
JUST RELEASED: Second Quarter Overtime Update for FY2020
City’s So Far Spends $23.6 Million More in Overtime Than Last Year Departments Spend Two-Thirds of Allocation Halfway Through Fiscal Year January 24, 2020 —The Pennsylvania Intergovernmental Cooperation Authority’s (“PICA”) Overtime Update for the Second Quarter of FY2020 showed City of Philadelphia overtime costs totaled $113.1 million, $23.6 million more than through the second quarter […]
PICA Board Meeting Notice
Notice is hereby given that a meeting of the Board of the Pennsylvania Intergovernmental Cooperation Authority is scheduled for Wednesday, February 26, 2020 at 3:00 p.m. in the Authority’s board room located at 1500 Walnut Street, Suite 1600, Philadelphia, PA 19102.
PICA Issues RFP for Outside Audit Services
[Please see below for Q&A Section] This Request for Proposal (“RFP”) provides information to enable qualified firms to submit a proposal to provide outside audit services for the Pennsylvania Intergovernmental Cooperation Authority (“PICA”). You can view the RFP here. The RFP is issued by PICA. Submit all questions, inquiries, and requests for information concerning this […]
PICA Hosts 2020 Regional Economists Meeting
February 13, 2020–Today PICA hosted its 2020 Regional Economists Meeting at the Federal Reserve Bank of Philadelphia. Representatives from IHS Markit, the City’s economic forecasting consultant, presented the structure of their economic model and major forecast assumptions. Marisa Waxman, the City’s Budget Director, followed with a presentation on preliminary revenue growth forecasts for fiscal years […]
Monthly Tax Revenue Update for January 2020
January Tax Collections Increase by 6.3% Over Last Year City Sees Increases in Every Month of FY2020 The City collected approximately $324.7 million in General Fund tax revenue in January of FY2020, compared to $305.4 million in January FY2019, an increase of approximately $19.3 million, or 6.3 percent, according to preliminary figures. About half of […]
