City’s Spends Almost $150 Million in OT Through Third Quarter Overtime Cost Projection Surpasses $200 Million for First Time May 27, 2020 —The Pennsylvania Intergovernmental Cooperation Authority’s (“PICA”) Overtime Update for the Third Quarter of FY2020 showed City of Philadelphia overtime costs totaled $148.9 million, $15.8 million more than through the third quarter of last […]
PICA’s Monthly Tax Update for April
April Tax Collections Drop by More Than Half Compared to Last Year Impact of COVID-19 on Tax Collections Becomes Evident The City collected approximately $287.1 million in General Fund tax revenue in April of FY2020, compared to $639.7 million in April FY2019, a decrease of approximately $352.6 million, or 55.1 percent, according to preliminary figures. As […]
PICA Issues RFP for Accounting Services
This Request for Proposal (“RFP”) provides information to enable qualified firms to submit a proposal to provide accounting services for the Pennsylvania Intergovernmental Cooperation Authority (“PICA”). Click here to view the RFP. The RFP is issued by PICA. Submit all questions, inquiries, and requests for information concerning this RFP, in writing by May 18, 2020 […]
PICA’s Monthly Tax Update for March
March Tax Collections Slightly Higher Than Last Year Impact of COVID-19 on Tax Revenue Not Yet Evident The City collected approximately $383.0 million in General Fund tax revenue in March of FY2020, compared to $381.6 million in March FY2019, an increase of approximately $1.4 million, or 0.4 percent, according to preliminary figures. About half of […]
PICA’s Monthly Tax Update for February
February Tax Collections Increase by 6.8% Over Last Year Increases in Every Month of FY2020 Continue The City collected approximately $599.8 million in General Fund tax revenue in February of FY2020, compared to $561.8 million in February FY2019, an increase of approximately $37.9 million, or 6.8 percent, according to preliminary figures. About half of the […]
PICA’s Staff Report on City’s Second Quarter QCMR
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 – […]
