Summary
The PICA Board convened on May 26, 2021, to review financial updates and approve key resolutions. Executive Director Harvey Rice reported on PICA’s tax revenue and obligations updates, as well as the staff report on the third-quarter QCMR. The Board approved Resolution 2021-14, engaging The Arbitrage Group for arbitrage rebate calculations at a cost-effective rate of $1,000, significantly lower than the previous year’s contract. Board members also reviewed overtime expenditures in various City departments, raising concerns over inconsistencies in certain agencies. Discussions centered on potential reimbursement through grants and the need for further department accountability. The meeting concluded with discussions on PICA’s upcoming meetings and financial monitoring responsibilities.