Summary
The PICA Board convened on May 22, 2018, to evaluate the City’s financial condition and discuss pending labor contract negotiations. Executive Director Harvey Rice presented updates on the Quarterly City Managers Report (QCMR), emphasizing increased pension contributions and unexpected budget surpluses. The Board approved Resolution 2018-07, engaging Maher Duessel for financial auditing, ensuring continued compliance with regulatory requirements. Additional discussions included tax revenue trends, investment earnings performance, and potential risks posed by pending labor contract settlements. The meeting concluded with a review of overtime spending and hiring trends across key City departments.