Summary
PICA adopted Resolution No. 2020-14, approving the City’s request to defer submission of a required revision to its FY2020-FY2024 Five-Year Financial Plan. The City had entered into new labor contracts that required financial plan revisions, but requested an extension due to pending budget decisions. The Board agreed that submitting a revised plan before City Council finalized the budget would be impractical. As a result, the City was allowed to submit its upcoming FY2021-FY2025 Five-Year Plan instead of revising the existing plan. The resolution ensures compliance while allowing flexibility in financial reporting. It takes effect immediately.