Issues Staff Report on Five Year Plan

July 21, 2020—The Board of the Pennsylvania Intergovernmental Cooperation Authority (“PICA”) at its Annual Meeting today unanimously approved the City of Philadelphia’s Five Year Plan for Fiscal Years 2021-2025 (the “Plan”). The City will provide PICA monthly obligation reports and an overtime reduction Plan for each City Department. In approving the Plan overall, the Board held that the assumptions and estimates in the City’s Plan were reasonable and appropriate, and that the Plan projects positive year-end fund balances for the next five fiscal years.

In addition, the election for officers of the PICA Board was held, with Kevin Vaughan being re-elected Chair, Alan C. Kessler being elected Vice Chair, Michael Karp being elected Treasurer/Secretary and James F. Cawley being elected Assistant Treasurer/Secretary.

For the full report, click here.

For the accompanying press release, click here.

For news coverage of the Plan approval, click here.