PICA approves city's 5-year plan with concerns noted
The city's fiscal watchdog today approved the five year financial plan, while noting there are fiscal risks ahead.
PICA approves city's 5-year plan with concerns noted
Catherine Lucey
The city's fiscal watchdog today approved the five year financial plan, while noting there are fiscal risks ahead.
The five-member board of the Pennsylvania Intergovernmental Cooperation Authority voted unanimously in favor of the city's plan. Board chairman Sam Katz did stress concerns about the city's underfunded pension plan and the pending switch to actual value real estate tax assessments.
"I'm uncomfortable with the fact that the long term problem of pensions is left largely undiscussed," said Katz.
Comments (11)
Comment removed.
DROP is not a bad program when used as it was designed and not as a way for politicians to line their pockets with more taxpayer money.— mike c- Why didn't Katz challenge Nutter if he is so uncomfortable about the pension situation? When has PICA ever not approved of a 5 year plan or ever challenged a sitting Mayor? Who underfunded the pension system Sam Katz? Which specific Mayors didn't hold their end of the agreement by paying into the pension fund? City employees have never missed a pension payment and will most likely have to pay more for a problem they didn't cause. That is a disgrace and fundamentally unfair.— Serpico
- Let's take a good, hard look into Sam Katz and his personal life! What a freakin disgrace!— phillygrlinfl
- Hey, Sam, can you and Ed spell 'casino'?— phillygrlinfl
- What does Sam Katz's personal life have to do with PICA's oversight of Philadelphia finances? If all you're interested in is the politics of personal destruction, then you're barking up the wrong tree with Sam Katz.— H.L. Puttgrass
- If the PICA board "had concerns" they should not have approved this budgets. Spineless sycophants all!— anon
- PICA is just another patronage dump filled with politically connected lawyers. The pension problem will never be fixed unless and until the city bankrupts, and then renegotiates pensions.— The Monk
- PICA is a joke as is KATZ he was meeting with john don gotti street and they were plotting for his run against nutter and then suddenly katz lost his backbone but then landed on PICA and he remains good friends with nutter what a joke one big happy family— the commodore
- Don't worry about the pensions...Philly's taxpayers will pay make them ful.— Anthony Palmer
- Comment removed.
Popular Posts
About this blog
Chris Brennan, a native Philadelphian and graduate of Temple University, joined the Daily News in 1999. He has written about SEPTA, the Philadelphia School District, the legalization of casino gambling, state government, the mayor, the governor, City Council and political campaigns. E-mail tips to brennac@phillynews.com
Follow Chris on Twitter
David Gambacorta spent a small eternity writing about cops, drug dealers and serial killers. Now he’s writing about power and politics – which sometimes reminds him of the old crime beat. He joined the Daily News in 2005. And yes, he knows you’re not quite sure how to pronounce his last name. E-mail tips to gambacd@phillynews.com
Follow Dave on Twitter.
Jan Ransom, a native New Yorker, joined the Daily News in 2010 after graduating from Howard University. She has since written about the difficulty of filing police complaints, tax deadbeats and life after violent home invasions. She joined the Daily News City Hall Bureau in 2011 and has plunged headfirst into reporting on administration budget battles and City Council shenanigans. E-mail tips to ransomj@phillynews.com
Follow Jan on Twitter
Sean Collins Walsh is from Bucks County and went to Northwestern University. He joined the Daily News copy desk in 2012 and now covers the Nutter administration. Before that, he interned at papers including The New York Times, The Dallas Morning News and The Seattle Times. E-mail tips to walshSE@phillynews.com
Follow Sean on Twitter
Follow Chris on Twitter
David Gambacorta spent a small eternity writing about cops, drug dealers and serial killers. Now he’s writing about power and politics – which sometimes reminds him of the old crime beat. He joined the Daily News in 2005. And yes, he knows you’re not quite sure how to pronounce his last name. E-mail tips to gambacd@phillynews.com
Follow Dave on Twitter.
Jan Ransom, a native New Yorker, joined the Daily News in 2010 after graduating from Howard University. She has since written about the difficulty of filing police complaints, tax deadbeats and life after violent home invasions. She joined the Daily News City Hall Bureau in 2011 and has plunged headfirst into reporting on administration budget battles and City Council shenanigans. E-mail tips to ransomj@phillynews.com
Follow Jan on Twitter
Sean Collins Walsh is from Bucks County and went to Northwestern University. He joined the Daily News copy desk in 2012 and now covers the Nutter administration. Before that, he interned at papers including The New York Times, The Dallas Morning News and The Seattle Times. E-mail tips to walshSE@phillynews.com
Follow Sean on Twitter
Search this blog:
Blog Roll
Classifieds:
Site Services:
Partners: