Summary
The PICA Board convened on June 20, 2017, to assess financial oversight responsibilities and upcoming budget approvals. Executive Director Harvey Rice reported that PICA’s 30-day review period for the Five-Year Plan had begun, with a staff report draft scheduled for release by July 11. Board members debated the impact of pending arbitration settlements on the City’s financial stability, noting potential budget overruns. The Board approved Resolution No. 12, engaging Parker Bond Consulting to handle arbitrage rebate calculations for PICA bonds. Discussions also covered beverage tax revenue trends, the City’s plan to fund new labor contracts, and legal updates on tax litigation. The meeting concluded with an executive session regarding investment strategies and budgetary risks.