Summary
The PICA Board convened on January 16, 2024, to review recent financial developments and operational matters. Executive Director Marisa Waxman reported that the City ended FY23 with a higher-than-expected fund balance of $300 million, offsetting declines in Realty Transfer Tax revenues. The Board discussed financial risks related to tax collection, labor contract negotiations, and commercial real estate market shifts. Members raised concerns about the Sheriff’s Office’s handling of tax sales and requested further investigation. Additionally, the Board approved funding for PICA staff to attend finance-related conferences (Resolution 2024-06) and continued discussions on lease negotiations. The meeting concluded with a closed executive session to review legal services proposals.