PHILADELPHIA (KYW Newsradio) — The state watchdog that oversees Philadelphia’s finances got a change in leadership last week. The Pennsylvania Intergovernmental Cooperation Authority, or PICA, lost executive director Harvey Rice to retirement.
His replacement is someone whose work he used to oversee — the city’s former budget director, Marisa Waxman.
“I’m very proud of these last nine years during difficult times with the pandemic and how that affected the budget and the city’s looking into the future, so it shows that there’s a need and a necessity for PICA,” Rice said.
He increased and simplified reporting on revenues and expenses and highlighted overtime to address his Board’s concern that the city continually exceeded its overtime budget. He counts a plan to reduce police overtime for court appearances among his victories.
The state created PICA in 1991 to help it through a severe economic crisis and it’s credited with helping the city maintain balanced budgets for the last 25 years—even through crises like COVID.
When PICA used to issue reports about Philadelphia spending, it often fell to Waxman, as budget director, to explain the city’s position. Now, as PICA executive director, she’ll be the one issuing reports and making recommendations.
“I have that operational experience that really helps the recommendations we make from PICA be ones that are feasible and can be actually used,” Waxman says.
She says she always valued PICA’s input and wants to supply the same kind of support.
“When people talk about maintaining a healthy diet or a good exercise regimen, often it’s suggested, ‘Do it with a friend. Do it with a family member. Hold each other accountable. Work through it together.’ And that’s how I see the role of PICA."
Waxman takes over at a time when city finances are in the best shape they’ve been in for years, but she sees challenges in the offing.
“Federal funds that we got to help us navigate COVID are going to end. We have upcoming labor contracts. In FY29, a very large payment coming due on our pension obligation bond so those are things that the city is going to have to navigate.”
Meanwhile, Rice says he looks forward to increasing his volunteer work in his retirement.