November 16, 2021—The Board of the Pennsylvania Intergovernmental Cooperation Authority at its Monthly Meeting today unanimously approved the City of Philadelphia’s Five Year Plan for Fiscal Years 2022-2026 as Revised October 29, 2021. Recently, the City received a new arbitration award for the Fraternal Order of Police Lodge No. 5 and negotiated new labor contracts with AFSCME District Council 33 and District Council 47, which exceeded the labor reserve in the FY2022-FY2026 Five Year Plan approved by the PICA Board in July. As a result, the City was required to submit a revised five year financial plan, as required by the PICA Act.

PICA also today issued its Staff Report on the Revised Plan, which includes a thorough review and analysis of the Revised Plan, along with a discussion of risks to the Revised Plan and other financial concerns facing the City.

For the Staff Report, click here.

For the accompanying press release, click here.