Meet PICA
The Pennsylvania Intergovernmental Cooperation Authority (PICA) is the financial oversight board for the City of Philadelphia. It was created through state legislation in 1991 and began its work in 1992.
One of its most important first roles was to issue bonds on behalf of the city, which had largely lost access to the market. In later years, its mediation on behalf of labor contracts and its requirement of five-year budgets were seen as influential to improve the city’s investment grade and finances.
In 2013, Harvey Rice was named its Executive Director.