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NEWS
July 19, 1994 | by Dave Davies, Daily News Staff Writer
Ronald G. Henry, executive director of the state board overseeing Philadelphia's finances, has resigned effective early next month. The Pennsylvania Intergovernmental Cooperation Authority was established by the state Legislature in 1991 in response to Philadelphia's financial crisis. It issues bonds on the city's behalf and regularly monitors its finances. "It's been three years, and I've largely accomplished what I set out to do," Henry said yesterday, "to help PICA get organized, to help the city get through its financial crisis, and set up a structure to promote fundamental institutional change.
NEWS
July 25, 2011
SOMEONE alert the academy! It's Our Money is making a summer blockbuster movie. It's called "PICA 2011: Judgment Day. " Here's our tagline: In a world of many fiscal dangers, one city budget fights to survive. The plot? Tomorrow, the Pennsylvania Intergovernmental Cooperation Authority, also known as PICA, will vote on whether to approve the city's five-year plan. PICA's job is to make sure the city has enough money to cover the spending it projects over the next five years.
NEWS
March 12, 1992 | by Paul Maryniak, Daily News Staff Writer
Memo from the state fiscal oversight board to Mayor Rendell: Get out your pencils and calculator and do some more homework on your five- year plan. The response of the mayor and his financial advisers to the Pennsylvania Intergovernmental Cooperation Authority's first evaluation of his plan to make the city solvent? No problem. "I accept their assessment; they have legitimate questions," Rendell said. Those questions - contained in a five-page memo released by PICA yesterday - cover matters like the $400 million the administration wants PICA to borrow on the city's behalf and how the city will use some of it. The authority also wondered what calculations the city used to forecast its revenue and proposed labor and management savings over the next five years.
NEWS
January 19, 2011 | By Jeff Shields, Inquirer Staff Writer
James Eisenhower, Gov. Ed Rendell's appointee as chairman of the Pennsylvania Intergovernmental Cooperation Authority, stepped down Tuesday as Gov. Corbett was sworn in. PICA is the state-appointed board that oversees Philadelphia finances. It was created in the early 1990s during the city's fiscal crisis, and requires each mayor to submit a five-year budget plan for approval by the board. In his final meeting, Eisenhower said he was optimistic about the prospects for a comprehensive study of the city's firefighting needs - meaning the Nutter administration and the city firefighters union may be able to agree on its parameters.
NEWS
September 16, 1992 | by Kathy Sheehan, Daily News Staff Writer
District Council 47 president Thomas Paine Cronin was briefly detained by city police yesterday after a lunchtime demonstration against the state panel overseeing the city's finances. Cronin and his union of white-collar city workers were protesting comments made last week by members of the Pennsylvania Intergovernmental Cooperation Authority. While dozens of picketers protested outside of PICA's offices on Walnut Street near Broad, Cronin and five other union members occupied the agency's suite of offices and refused to leave until board members apologized for the remarks.
NEWS
November 21, 1996 | by Dave Davies, Daily News Staff Writer
So you think the city budget is balanced? Not so fast, says the state agency overseeing city finances. In a report yesterday, the Pennsylvania Intergovernmental Cooperation Authority said it would be "incorrect and dangerous" to believe that the city's "revenue structure is sufficient to maintain city services. " That despite the city's audited statement for the most recent fiscal year showing a $118 million surplus. PICA warned that when adjusted for inflation, the city's tax base has been shrinking since 1988, and that "budgetary balance at present expenditure levels cannot be maintained in a declining economy.
NEWS
December 12, 1991 | by Paul Maryniak, Daily News Staff Writer
Empty pleasantries and a fond farewell were all the board overseeing city finances expected yesterday when it asked City Finance Director David Brenner to say a few words. Instead, Brenner delivered a bitter tongue lashing that left members of the Pennsylvania Intergovernmental Cooperation Authority speechless - until one of them bit back. "I have not enjoyed the experience," Brenner told the board at the last meeting he'll attend as an ex-officio, non-voting member. "From day one, you exhibited a lack of trust in me or anyone connected with the city.
NEWS
December 8, 1992 | by Paul Maryniak, Daily News Staff Writer
The state agency overseeing city finances is scheduled to give city officials their first report card tomorrow, and the grade apparently will be much better than the agency's staff originally planned. After protests by the Rendell administration, the Pennsylvania Intergovernmental Cooperation Authority is toning down a caustic draft report that blistered city officials' progress in making the city fiscally solvent. The draft of the PICA analysts' report - obtained by the Daily News - shows that the authority's staff wanted to give an "F" to the administration for its efforts to cut costs and improve worker productivity to balance the city's budget.
NEWS
June 29, 2009
I WANT TO correct a few inaccuracies in your June 23 editorial ("We Want the Bad News, Too"). Foremost is your assertion that "PICA ruled that the city didn't need to submit [Plan B], too. " In fact, as reported in your own paper, the board requested that the mayor submit a five-year plan for PICA's review by June 22. As in every year since 1992, PICA did not dictate what the city should submit, save that it be a plan the city believes meets the statutory requirement of a five-year balanced budget using reasonable assumptions.
NEWS
February 10, 1993 | by Paul Maryniak, Daily News Staff Writer
A multimillion-dollar cloud hangs over the city's budget and it's making the special state agency overseeing city finances impatient. Members of the Pennsylvania Intergovernmental Cooperation Authority think an arbitration panel is taking all too long to decide on a new contract for city police. The firefighters' panel has suspended proceedings pending a decision on a police contact. "The silence is deafening," said PICA member John Egan, noting how no final budget can be decided until the city knows how much it will have to spend on police and fire protection.
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ARTICLES BY DATE
NEWS
October 16, 2014 | By Claudia Vargas, Inquirer Staff Writer
The board that oversees Philadelphia's finances approved the latest version of the city's five-year plan Tuesday, while cautioning that the city should tighten its belt instead of slowing down wage-tax cuts. The Pennsylvania Intergovernmental Cooperation Authority (PICA) approved the amended plan unanimously. The fiscal road map, initially approved in July, had to be readjusted to reflect a $133 million contract settlement with the city's largest union, AFSCME District Council 33, and a recent $97.5 million Fraternal Order of Police arbitration award.
NEWS
September 11, 2014 | By Claudia Vargas, Inquirer Staff Writer
Philadelphia's largest municipal union has agreed to a new contract that will give its 9,000 members immediate raises yet force them to pay a pinch more toward the city's underfunded pension system. A count Tuesday showed AFSCME District Council 33's rank-and-file overwhelmingly support the new pact - which is retroactive to July 1, 2009, and goes through June 30, 2016 - on a 4,492 to 213 vote. In addition to immediate 3.5 percent raises, DC33's blue-collar members will receive a $2,800 bonus within 30 days of ratification, and 2.5 percent bump in their paychecks in July.
NEWS
July 22, 2014 | BY SEAN COLLINS WALSH, Daily News Staff Writer walshSE@phillynews.com, 215-854-4172
THE CITY'S financial-oversight board yesterday approved Mayor Nutter's five-year plan in a 5-0 vote. The Pennsylvania Intergovernmental Cooperation Authority, which is made up of four appointees from the state General Assembly and one from the governor, voted unanimously to approve the plan, which it must pass for the city to continue receiving hundreds of millions of dollars in state aid. The board last year expressed concern about dangerously low...
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
March 18, 2014
ONE OF THE wonderful things about living your whole life in the same place (and in my case, 45 years in the same house) is the ability to mourn people you've never met. Those who move away from the old neighborhood - whether that be a four-block square or an entire ZIP code - clearly have memories and even make periodic returns like the Capistrano swallows. But the ones who stayed behind have a special gift for appreciating native things. In some ways, that's counterintuitive.
NEWS
February 21, 2014 | BY SEAN COLLINS WALSH, Daily News Staff Writer walshSE@phillynews.com, 215-854-4172
THREE-TIME mayoral candidate Sam Katz has stepped down as chairman of the state board that oversees city finances, fueling speculation that he may make a fourth go in the 2015 mayoral race. Katz yesterday sent his resignation letter to fellow Republican Gov. Corbett, who appointed Katz in 2011. Under state law, former PICA board members cannot run for office for one year after they step down. February 2015 would be the time to step up to the plate if Katz is to run for mayor.
NEWS
February 21, 2014 | By Bob Warner, Inquirer Staff Writer
PHILADELPHIA When the legislature created a financial oversight board in 1991 to help Philadelphia through a budget crisis, some lawmakers fretted about the agency's becoming a springboard to elected office. So they added a provision that members of the Pennsylvania Intergovernmental Cooperation Authority (PICA) could not seek public office within a year of service on the board. Twenty-three years later, that restriction has hit home. By resigning Wednesday as PICA chairman, Sam Katz, the three-time mayoral candidate now making documentaries on Philadelphia history, opened the door to a possible run for mayor next year.
NEWS
February 7, 2014 | BY JENNY DeHUFF, Daily News Staff Writer dehuffj@phillynews.com, 215-854-5218
WITH $50 million in revenue designated for nothing in particular, the city can save Philly residents $100 million over 10 years with a tax-reform bill, Councilman David Oh believes. Oh, who introduced just such a bill yesterday, said his goal is to reduce wage and net-profit taxes on residents without raising taxes elsewhere to offset the reduction. He envisions the wage tax for employees and net-profit tax for individuals to go from 3.92 percent in 2014 to 2.09 percent in 2025.
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.
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