Summary
PICA adopted Resolution No. 2022-05, approving the revised Five-Year Financial Plan for FY2022-FY2026, which incorporates the financial impact of recent labor agreements. The revised plan, submitted on October 29, 2021, accounts for the costs associated with an arbitration award for the Fraternal Order of Police Lodge No. 5 and new contracts with AFSCME District Council 33 and District Council 47. These agreements were deemed out of compliance with the previously approved plan, necessitating adjustments. The resolution confirms that the revised plan meets all applicable financial requirements and provides an updated framework for the City’s fiscal management. PICA staff reviewed and recommended approval of the plan, ensuring that financial projections remain realistic. The resolution takes effect immediately, ratifying prior actions taken in the review process.