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Authorizing the Committee on Fiscal Stability and Intergovernmental Cooperation to hold quarterly hearings that include monthly reporting requirements, to discuss the fiscal position and overarching social impact goals of the City, including and as related to the Five-Year Plan and the reporting requirements set forth in the Quarterly City Manager’s Report (“QCMR”) and as submitted to the Pennsylvania Intergovernmental Cooperation Authority (“PICA”).
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WHEREAS, The City Council of Philadelphia recognizes the ongoing need for fiscal oversight and transparency in the post-pandemic era, as the city continues to navigate economic challenges and recovery efforts, while maintaining policies that are fiscally sound and equitable for all; and
WHEREAS, The City has seen significant changes in its fiscal landscape, including the allocation of the $1.4 Billion in American Rescue Plan (ARP) funding, which replaced lost revenue following the pandemic and must be spent down by the end of December 2024; and
WHEREAS, ARP funding approaches depletion, it is imperative that the City Council maintains vigilant oversight of the budget to ensure continued fiscal stability and effective allocation of resources; and
WHEREAS, The Pennsylvania Intergovernmental Cooperation Authority (PICA) continues to play a vital role in overseeing the City's financial planning and reporting, as established by the Intergovernmental Cooperation Agreement signed in January 1992 and reauthorized by bipartisan legislation in 2022 to extend the agency’s oversight through at least 2047; and
WHEREAS, The City's Five-Year Plan, as required by PICA, outlines crucial financial projections and strategies that demand regular review and assessment to ensure alignment with the City's evolving needs and goals; and
WHEREAS, The ongoing process of gathering information about the fiscal health and social progress of the City remains essential for City Council to make informed decisions during budget seasons and throughout the year as the body works to ensure a Philadelphia that is inclusive and fair; and
WHEREAS, The City is required to submit monthly reports to PICA and provide quarterly reporting forty-five days after the end of each fiscal quarter. These reports include information on personnel and overtime spending, performance, cash flow, and quarterly financial results for the General Fund, Water Fund, and Aviation Fund; and
WHEREAS, Regular assessment of the City's fiscal position and its impact on broader societal goals, including poverty reduction, public safety, health, education, and economic progress, is crucial for effective governance and policy-making; now, therefore, be it
RESOLVED, THAT THE COUNCIL OF THE CITY OF PHILADELPHIA, Hereby authorizes the Committee on Fiscal Stability and Intergovernmental Cooperation to hold quarterly hearings that include monthly reporting requirements to discuss the fiscal position and overarching social impact goals of the City including and as related to the Five-Year Plan and the reporting requirements set forth in the Quarterly City Manager’s Report (“QCMR”) and as submitted to the Pennsylvania Intergovernmental Cooperation Authority (“PICA”).
FURTHER RESOLVED, That the Fiscal Stability and Intergovernmental Cooperation may hold hearings with the authorization to issue subpoenas to compel attendance of witnesses and the production of documents to the full extent authorized under Section 2-401 of the Philadelphia Home Rule Charter.
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