Summary
The PICA Board convened on April 16, 2019, to discuss financial planning and investment decisions. Executive Director Harvey Rice presented the need for independent revenue analysis for the Five-Year Plan, leading to the approval of Resolution 2019-08, engaging Charles Swanson. Additionally, the Board considered Citibank’s proposal for refunding PICA’s Series 2009 bonds, which could yield $6 million in savings. Resolution 2019-09 was passed, authorizing an RFP for a financial advisor to evaluate the feasibility of the transaction. Discussions also focused on City overtime costs, pension funding, and the impact of tax appeals on revenue projections. The meeting concluded with a review of upcoming budget hearings and fiscal oversight priorities.