Summary
The PICA Board convened on June 21, 2016, to discuss financial reports, tax revenue collections, and labor cost trends. Executive Director Harvey Rice presented PICA’s annual audit timeline and updates on City overtime spending. The Board approved contracts for revenue analysis and arbitrage services, ensuring continued financial oversight. Discussions also focused on the DNC’s security grant funding, with City officials explaining the reimbursement process for overtime expenditures. Board members requested further details on the DNC’s financial impact and the potential risks associated with pending litigation on the Sweetened Beverage Tax. The meeting concluded with a motion to monitor the City’s real estate tax collections and labor contract negotiations.