April 17, 2018 – Today the PICA Board approved a revision to the City’s FY2018-FY2022 Five Year Financial Plan as Revised – September 5, 2017 (the “September Plan”). Two recently issued interest arbitration awards resulted in $61.1 million in additional labor costs to the City's General Fund, necessitating this revision (the "April Plan"). Based on a review and analysis of the April Plan, PICA staff has determined that the revised fund balances are sufficient to cover the additional labor costs.

To view PICA's Staff Report on the April Plan, click here.