Formed 1991 | Jurisdiction Philadelphia | |
Headquarters 1500 Walnut Street
Philadelphia, PA Agency executive Lawrence J. Tabas , chair | ||
The Pennsylvania Intergovernmental Cooperation Authority (PICA) is a special administrative body created by the Commonwealth of Pennsylvania to oversee the finances of the City of Philadelphia.
The PICA was created by the Pennsylvania General Assembly though the Pennsylvania Intergovernmental Cooperation Authority Act for Cities of the First Class, also known as the PICA Act, on June 5, 1991. The PICA is charged with "restoring the financial stability" and "achieving balanced budgets" in Philadelphia.
The PICA operates within the context of an "Intergovernmental Cooperation Agreement" between it and the City of Philadelphia whereby the PICA had the authority to "evaluate and approve" the city's finances, the power to levy the "PICA Tax" to solve budget shortfalls, and the ability to withhold state funds if necessary to achieve the goals set out in the PICA Act.