Summary
The PICA Board convened on July 21, 2020, to review and approve the City’s FY2021-2025 Five-Year Financial Plan. Executive Director Harvey Rice presented staff analysis, noting that revenue projections differed by less than 1% over the Plan’s term, but concerns remained over BIRT revenue estimates. The Board approved Resolution 2021-01, requiring the City to submit an overtime reduction plan and monthly obligations reports. Additionally, members discussed the impact of federal CARES Act reimbursements, wage tax losses from remote work, and labor cost uncertainties. The meeting concluded with a motion to adjust the November board meeting to allow for more time to review the QCMR.