PHILADELPHIA —  The Pennsylvania Intergovernmental Cooperation Authority (PICA) today unanimously approved the City’s FY26-FY30 Five Year Plan. In recommending approval of the Plan, PICA staff said they “are confident that the Plan is based on reasonable and appropriate assumptions.”

The Five-Year Plan lays out Mayor Cherelle L. Parker’s vision for Philadelphia and demonstrates how the City will fund services and initiatives that will make Philadelphia the safest, cleanest, greenest big city in America, with access to economic opportunity for all.

“I want to thank PICA for its thorough and comprehensive review of the Plan,” said Mayor Cherelle L. Parker, “and for the Board’s acknowledgement of the Parker Administration’s unwavering commitment to fiscal stability. That commitment makes all our investments in services for our residents possible.”

“This Plan reflects the City’s continued commitment to fiscal stability and responsible budgeting, even in the face of complex economic challenges,” said Kevin Vaughan, Chair, PICA Board. “We commend the City’s leadership for making strategic investments in core services while also building toward long-term pension stability and reserving resources to weather future uncertainty.”

“PICA’s approval represents an important milestone in our budget process and is a testament to all the City employees whose hard work contributes to the City’s long-term fiscal health,” said Sabrina Maynard, Budget Director, City of Philadelphia.

PICA was established by the Commonwealth of Pennsylvania to oversee the City’s finances when the City faced a fiscal crisis three decades ago. Under the act establishing PICA, the City is required to produce a Five Year Plan each year, and the PICA Board is tasked with reviewing that Plan to ensure that it is balanced based on reasonable assumptions.

The Parker Administration’s FY26-FY30 Plan includes positive fund balances in each of its years and includes funding for the historic H.O.M.E. initiative to build, preserve and restore 30,000 units of housing, the innovative wellness ecosystem, further investments in public safety and in 2026 special events, funding for workforce development and, at almost $550 million, the largest ever labor reserve to pay for collective bargaining agreements that are fair to City employees and fiscally responsible.