Philadelphia watches clock as budget deadline nears

    The clock is ticking for Philadelphia officials as the state waits for them to turn in their budget plans. Based on state law, the city has until June 30 to submit its 2010 budget and five year plan to PICA, the state-created agency that oversee Philadelphia’s finances.

    The clock is ticking for Philadelphia officials as the state waits for them to turn in their budget plans.  Based on state law, the city has until June 30 to submit its 2010 budget and five year plan to PICA, the state-created agency that oversee Philadelphia’s finances.

    City officials are waiting to find out if state lawmakers approve their proposals to increase the sales tax, and to make changes to pension financing.

    The city may have to turn in its budget documents even before state lawmakers weigh in on key pieces of Philadelphia’s budget plans.

    PICA Board Chairman Jim Eisenhower says he’s not ruling out the possibility that the board could approve the budget plans even before state lawmakers give the okay.

    Listen:

    [audio:090617lfpica.mp3]

    Eisenhower: I wouldn’t want to prejudge anything because we haven’t been submitted anything at this point.  There is some precedent in the past that the board has approved some budget and plans that required state action.  And I think it’s going to be up to each member to evaluate it and consult with their appointing authority and vote for what we think is right at that time.

    Once the city submits a plan, PICA has 30 days to approve or reject it.

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