PICA won't get city's five-year financial plan until next week

Philadelphia’s fiscal watchdog will have to wait until next week to get the city’s five-year financial plan in part because of the recent firefighters’ arbitration award.

On Tuesday Finance Director Rob Dubow told the Pennsylvania Intergovernmental Cooperation Authority that the city would submit the plan to them today, but Dubow said there are a couple of things that need to be combed out first.

“There are a couple of little issues that came up that we have to iron out before we submit it,” he said, speaking of the firefighters’ arbitration award which includes raises. “We’ll get [the plan] to them next week.”

The city has to figure how to deal with the costs associated with the award and Dubow said, the plan could reflect an appeal even if the city ultimately decides not to. That means the plan may not necessarily reflect the city’s final decision.

The city has not yet said whether they plan to appeal the award and they have 30 days from the announcement to make a decision.

"It's a matter of whether or not they're going to appeal," said PICA Board Chairman Sam Katz. "We'll see what happens."

After receiving the city’s five-year financial plan, PICA has 30 days to approve it or reject it.