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 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 […]
Monthly Tax Update for December 2019
December Tax Collections Increase by 21% Over Last Year Year-to-Date Collections Ahead of Last Year by 10% The City collected approximately $252.0 million in General Fund tax revenue in December of FY2020, compared to $208.7 million in December FY2019, an increase of approximately $43.3 million, or 20.8 percent, according to preliminary figures. Every major City […]
First Quarter Overtime Update for FY2020
City’s First Quarter Overtime Spending $5.5 Million More Than Last Year Departments Spend 32 Percent of Annual Allocation in First Quarter January 15, 2020 —The Pennsylvania Intergovernmental Cooperation Authority’s (“PICA”) Overtime Update for the First Quarter for FY2020 showed City of Philadelphia overtime costs totaled $53.1 million, $5.5 million more than was spent in the […]
Monthly Tax Update for November 2019
City’s Strong FY2020 Tax Collections Continue in November Year-to-Date Collections Ahead of Last Year by $77 Million The City collected approximately $192.7 million in General Fund tax revenue in November of FY2020, compared to $175.5 million in November FY2019, an increase of approximately $17.2 million, or 9.8 percent, according to preliminary figures. While only only […]
