July 27, 2022—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 2023-2027 (the “Plan”). In approving the Plan, 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.

PICA also issued its annual Staff Report on the Plan; the Report identifies certain factors that might present risks to the Plan.

For the full report, click here

For the accompanying press release, click here

For past reports, click here