PICA Staff recommended approval of the Plan, based on the following:

  • Revenue and expenditure projections are reasonable and appropriate.
  • Preliminary revenue results for FY16 suggest another year of solid performance in revenue.
  • PICA staff is encouraged by the City’s efforts to move in the direction of higher fund balances, which is evidenced by its setting aside higher fund balances in this Plan than in recent years. However, PICA continues to advocate for allocating funds to the Budget Stabilization Reserve.
  • This Plan includes a $328 million reserve for future labor costs over the life of the Plan.

Read the full report here.