CollectionsPennsylvania Intergovernmental Cooperation Authority
IN THE NEWS

Pennsylvania Intergovernmental Cooperation Authority

FEATURED ARTICLES
NEWS
July 6, 2006 | By Marcia Gelbart INQUIRER STAFF WRITER
After patching a nearly $500 million hole in its five-year spending proposal, the Street administration received a stamp of approval yesterday from the state authority that oversees the city's finances. But although the five-member Pennsylvania Intergovernmental Cooperation Authority (PICA) approved the spending plan unanimously, it wasn't without a measure of reluctance. The administration's fiscal policies are "deplorable, especially in the long term," Chairwoman Lauri A. Kavulich said.
NEWS
August 11, 2010
Philadelphia's state-appointed oversight board on Tuesday approved the city's five-year plan, officially capping the 2010-11 budget process. Without comment, the Pennsylvania Intergovernmental Cooperation Authority voted 4-0 to approve the plan, as required by state law. In its staff report analyzing the city?s finances, PICA warned that shortfalls in federally funded state assistance, dangerously thin fund balances, and unresolved labor contracts could throw the plan out of balance.
NEWS
April 5, 2010
LAST WEEK, the city finally put a detailed version of Mayor Nutter's proposed budget online. The plan - at www.phila.gov - has more than 1,000 pages of information about how the city spends your tax dollars. That amount of data can be overwhelming, especially for people unfamiliar with city government. So what's a concerned citizen to do? A number organizations can help. The Pennsylvania Intergovernmental Cooperation Authority (www.picapa.org) puts out an excellent citizens guide. Also, the Committee of Seventy (www.
NEWS
August 13, 2009
IN JULY, the city's fiscal watchdog, the Pennsylvania Intergovernmental Cooperation Authority (PICA), set a deadline of Aug. 15 for action on state legislation to help balance Philadelphia's municipal budget. Now, some state lawmakers want that deadline extended to Sept. 15. Sen. Dominic Pileggi, who is pushing for the change, says the state Senate needs more time to consider allowing the city to raise the local sales tax and delay contributions to the city pension fund. Without those changes, the city will lay off 3,000 employees, drastically cut services, and close numerous city facilities.
NEWS
September 21, 1991 | by Bob Warner, Daily News Staff Writer
City Council is scheduled for a rare Saturday session today to make some progress on the city's financial problems. But don't expect to see a full house. The 1 p.m. Council session will likely draw just one or two Council members and last only a couple of minutes - as long as it takes Councilman John Street to introduce a piece of legislation. The legislation is a proposed agreement between the city and the Pennsylvania Intergovernmental Cooperation Authority (PICA), the agency set up by the legislature last June to help the city borrow money.
NEWS
June 26, 1993 | Daily News Staff Report
Economist Bernard Anderson, chairman of the Pennsylvania Intergovernmental Cooperation Authority, will be named by President Clinton to be secretrary for employment standards in the Labor Department. "I'm pleased to be nominated . . . and hope to perform at a high level of effectiveness," Anderson said. The announcement was made yesterday. Anderson, a professor of economics at the Wharton School, was elected PICA chairman in 1991. PICA oversees the city's fiscal health. Should he be confirmed by the Senate, Anderson, appointed to the PICA board by the governor, said he would have to resign "at the appropriate time" because he would no longer meet the requirement to live or work in Philadelphia.
NEWS
January 19, 1994
The mayor says all Philadelphians helped the fiscal recovery by backing his belt-tightening at City Hall, leading last week to a no-new-taxes budget with promised improvements in city services. Among those Philadelphians, certainly, was Bernard E. Anderson, the former chairman of the state oversight agency that advanced the city $450 million to avert bankruptcy. As Mr. Rendell's third budget hit the presses, Mr. Anderson stopped by the Pennsylvania Intergovernmental Cooperation Authority (PICA)
NEWS
April 23, 1993 | By Matthew Purdy, INQUIRER STAFF WRITER
Philadelphia's bond rating was increased one step by Moody's Investors Service yesterday, reflecting increased confidence in the city's fiscal stability. The rating, which was revised from B to Ba, still leaves the city's general-obligation bonds rated below investment grade. In announcing the new rating, Moody's said that "the Rendell administration has displayed a willingness and commitment to achieve long-term fiscal balance. " The report said that the cooperation between Rendell and City Council "has been essential to the city's success to date.
NEWS
March 30, 2011 | By CATHERINE LUCEY, luceyc@phillynews.com
The chairman of the city's fiscal watchdog today questioned the property-tax projections in Mayor Nutter's five-year financial plan, which assumes that tax revenues are projected to remain the same after a temporary 10 percent increase was supposed to sunset. "The revenue estimates in the proposed plan are not based on currently proposed rates as set forth in the Real Estate tax rate bill approved by City Council last year," Sam Katz, chairman of the Pennsylvania Intergovernmental Cooperation Authority, wrote in a letter to Nutter and City Council.
NEWS
March 4, 2011
JANNIE BLACKWELL is to be commended for resigning from the PHA board Wednesday. Her resignation follows a startling request from HUD for the entire board to resign so the agency can more easily dig into the troubled agency. It's unclear whether her fellow board members will follow suit when they convene today, but they should. While no one has suggested overt wrongdoing by the board, the fact that its control and oversight of since-ousted PHA director Carl Greene was so ineffective is cause enough.
1 | 2 | 3 | 4 | 5 | Next »
ARTICLES BY DATE
NEWS
September 2, 2016 | By Claudia Vargas, Staff Writer
Philadelphia is counting on its recent good fortune with tax revenue continuing for the next five years as a way to fund new labor agreements and rising pension costs. As presented in the latest version of the city's five-year plan - approved by the Pennsylvania Intergovernmental Cooperation Authority on Wednesday - the city is assuming about $20 million more in revenue each year than originally estimated. That, however, won't completely cover the costs of new labor agreements. Officials revised the five-year plan after Mayor Kenney signed a four-year, $170 million contract in July with the city's largest municipal union, AFSCME District Council 33. During Wednesday's PICA board meeting, board members expressed concern over a potential recession within the next five years.
NEWS
May 20, 2016 | By Claudia Vargas, Staff Writer
The City of Philadelphia has already spent $25 million more in overtime than it had budgeted this fiscal year. And that year doesn't end until June 30. Through the end of April, city workers were paid $159.7 million in overtime, blowing through the $135 million budgeted, according to a new report from the Pennsylvania Intergovernmental Cooperation Authority (PICA), the state board that oversees the city's finances. This will be the fifth year in a row that overtime has increased substantially.
NEWS
March 25, 2016
THIS WEEK has been a real head-scratcher in Philly politics. And when you don't have any hair, you tend to notice these things. Let's start at City Hall. Kevin Vaughan was appointed chairman of the Pennsylvania Intergovernmental Cooperation Authority, the fiscal watchdog group that must approve Philadelphia's five-year spending plans in order for the city to get state funding. Vaughan was appointed by Gov. Wolf - on Mayor Kenney 's recommendation. Oh. That's . . . convenient.
NEWS
March 24, 2016 | By Claudia Vargas, Staff Writer
The chairman of a super PAC that raised $1.4 million to help elect Mayor Kenney last year has been appointed to the board that has oversight of the city's budget and spending plans. Kevin Vaughan, who headed the Forward Philadelphia super PAC, is the new chairman of the Pennsylvania Intergovernmental Cooperation Authority (PICA). He was appointed to the board this month by Gov. Wolf on Kenney's recommendation. At last week's PICA meeting, the board unanimously approved Vaughan as chairman.
NEWS
July 12, 2015 | By Tricia L. Nadolny, Inquirer Staff Writer
The city controller on Friday rejected Philadelphia's five-year budget and called on the city's state-appointed fiscal watchdog to do the same, saying the plan overestimates tax revenues and could lead to a deficit. Controller Alan Butkovitz said the budget makes flawed estimates for the business income and receipts tax, sales tax, real estate transfer tax, and parking tax. In asking the Pennsylvania Intergovernmental Cooperation Authority (PICA) to reject the budget, Butkovitz said economic conditions are predicted to be less favorable over the next few years than the city's projections.
NEWS
July 22, 2014 | By Claudia Vargas, Inquirer Staff Writer
Philadelphia's finances are improving and are likely to continue doing so through 2019. The Pennsylvania Intergovernmental Cooperation Authority (PICA) board made that optimistic determination Monday when it unanimously approved the city's five-year plan. The city's fiscal overseers cautioned, however, that various risks were still associated with the Nutter administration's long-term budget, including unresolved labor contracts, the School District's fiscal crisis, and the pension fund.
NEWS
May 22, 2014 | By Claudia Vargas, Inquirer Staff Writer
The state board that oversees the city's finances on Tuesday gave its stamp of approval on the pending sale of the Philadelphia Gas Works in a $1.9 billion deal with UIL Holdings Inc. Mayor Nutter wants to sell the 176-year-old utility to use the proceeds to reduce the city's underfunded pension obligations. The deal, which must still be approved by City Council and the Pennsylvania Public Utility Commission, is opposed by the gas workers' union, low-income advocates, and opponents of private ownership, all of whom have been putting pressure on Council to say no. At Tuesday's meeting of the Pennsylvania Intergovernmental Cooperation Authority (PICA)
NEWS
March 20, 2014 | BY JENNY DeHUFF, Daily News Staff Writer dehuffj@phillynews.com, 215-854-5218
THE CITY'S FISCAL overseer gave a preliminary nod to Mayor Nutter's five-year financial and strategic plan yesterday, while suggesting it needs more time to comb through the fine print. The Pennsylvania Intergovernmental Cooperation Authority's executive director, Harvey Rice, said that the mayor's plan looks OK with the "reasonable assumptions" in revenues anticipated through 2019. PICA officials said higher overall projected tax revenues are indicative of a brighter financial outlook for the coming years, although uncertainty remains over the unresolved contract agreement with one of the city's biggest labor unions.
NEWS
February 20, 2014 | By Claudia Vargas, Inquirer Staff Writer
PHILADELPHIA Education funding should be the Philadelphia business community's main priority if it wants to have a competitive workforce in the next decade, Mayor Nutter told the Greater Philadelphia Chamber of Commerce on Tuesday during his annual address. Nutter used a quarter of his time to argue for state school funding. "Quality education remains the greatest challenge Philadelphia faces in the 21st century," he said. Nutter called for a state funding formula based on the number of students in each district and their needs, such as learning disabilities and poverty.
NEWS
January 4, 2014 | By Troy Graham, Inquirer Staff Writer
The authority that oversees the city's finances plans to have a greater say in the coming years on Philadelphia's most vexing challenges. The Pennsylvania Intergovernmental Cooperation Authority (PICA) said in its annual report, released this week, that it would seek to publish a series of studies on issues such as the underfunded pension system and tax enforcement, and hold forums to publicize the findings. In the process, PICA would "broaden its oversight" to discussions of whether the city's financial planning is adequately addressing those concerns.
1 | 2 | 3 | 4 | 5 | Next »
|
|
|
|
|