Summary
The PICA Board convened on March 15, 2016, to discuss financial oversight matters, including the Five-Year Financial Plan and the proposed Sweetened Beverage Tax. Executive Director Harvey Rice introduced new staff member Daniel Esposito and provided updates on PICA’s financial reports. The Board approved Kevin Vaughan as the new Chair following Suzanne Biemiller’s resignation. Budget Director Anna Adams presented the City’s FY17-FY21 initiatives, which included pre-K expansion, community schools, and infrastructure investment funded by the proposed beverage tax. Board members debated the tax’s potential legal challenges and its implications for bond ratings, highlighting concerns about revenue stability if the tax faced litigation. The meeting concluded with discussions on the City’s pension fund contributions and tax enforcement measures.