City Receives Unanimous Approval of Philadelphias 2026-2030 Five Year Plan from PICA Board
The Pennsylvania Intergovernmental Cooperation Authority (PICA) approved Philadelphia's FY26-FY30 Five-Year Plan, highlighting confidence in its assumptions. Mayor Cherelle L. Parker thanked PICA for recognizing the administration's commitment to fiscal stability, which underpins investments in city services. The plan aims to position Philadelphia as the safest, cleanest, and greenest large city in America, with equitable economic opportunities. PICA Chair Kevin Vaughan acknowledged the city's responsible budgeting amid economic challenges, commending strategic investments in core services.
The plan includes positive fund balances and significant funding for initiatives like the H. O. M. E. program, aiming to create 30,000 housing units.
The budget also allocates nearly $550 million for a labor reserve to ensure fair collective bargaining agreements. Budget Director Sabrina Maynard called the approval an important milestone for the city’s fiscal health. Established to remedy a fiscal crisis, PICA mandates balanced financial plans from Philadelphia each year.