The Intergovernmental Cooperation Authority for Harrisburg Accepts Five-Year Financial Plan for 2022
October 3, 2022
Harrisburg, Pennsylvania – The Intergovernmental Cooperation Authority for Harrisburg (the Authority) has approved the submission of the City of Harrisburg’s Five-Year Financial Plan (the Plan) for 2022 at its meeting on September 28, 2022. The approved Plan represents a comprehensive financial roadmap for the administration of Mayor Wanda R.D. Williams.
The Plan addresses all areas of reporting and projects balanced budgets as required by Act 124. The Plan also sets the goal of early repayment of the bond insurance liability owed to AMBAC, a debt of approximately $20 million arising from the City’s default on indebtedness obligations over ten years ago.
In correspondence transmitted by Board Chair Audry Carter, the Authority laid out items of focus going forward including:
- Implementation of the American Rescue Plan Act (ARPA) funding; Development of an Economic Development Strategic Plan;
- Receivables in the Neighborhood Services Fund;
- Real estate tax collection and an expanded use of Payments In Lieu of Taxes (PILOTs) for tax-exempt property owners and the Commonwealth.
Chair Audry Carter shared that the Authority “looks forward to continuing to work collaboratively with the Williams’ administration.” She adds, “Given the cooperation and collaboration seen so far between the Authority and Mayor Williams, the willingness of City staff to seek advice from the Authority, and the positive financial status of the City, we are optimistic that the FY23 budget, complemented with ARPA funding initiatives, puts Harrisburg’s future in a promising position.”
The full report can be found at the Authority website, www.hbgica.org or by clicking on this direct link: https://hbgica.org/download/1013/.
About the ICA
The Intergovernmental Cooperation Authority for Harrisburg (ICA) is a public authority and instrumentality of the Commonwealth of Pennsylvania. The ICA was created for the general purpose of fostering the fiscal integrity of the City of Harrisburg, pursuant to the Intergovernmental Cooperation Authorities Act for Cities of the Third Class (Act of October 24, 2018, P.L. 751, No. 124).
The Intergovernmental Cooperation Authority for Harrisburg (ICA) was created by an act of the General Assembly. The Authority, composed of members experienced in finance and management, advises the City of Harrisburg, the General Assembly, and the Governor concerning solutions to fiscal problems the City of Harrisburg may face.
A governing board, composed of five appointed members, exercises the powers and duties of the Authority. The current five members are residents of the city and/or have their primary place of business or employment in the city. In addition, there are two ex officio, non-voting members of the board representing the City and the Secretary of the Budget.
The governing board of the ICA retains an Authority Manager and Independent General Counsel to assist in its mission. If you have any questions about the ICA, please contact Authority Manager Jeffrey Stonehill at email@example.com.