HomeMy WebLinkAbout02-13-2020 IOC Minutes
Minutes
Investment Oversight Committee
Thursday, February 13, 2020
Regular Meeting of the Investment Oversight Committee
CALL TO ORDER
A regular meeting of the Investment Oversight Committee was called to order on Thursday, February
13, 2020, at 1:37 p.m. in the Council Hearing Room at 990 Palm Street, San Luis Obispo, California,
by Chair Brigitte Elke.
ROLL CALL
Present: Committee Members Heidi Harmon, Derek Johnson, Debbie Malicoat, and
Chair Brigitte Elke
Absent: Committee Member Humphrey (Public Member)
Others Present: Monique Spyke, Managing Director for PFM Asset Management LLC, Natalie
Harnett, Staff, and Megan Wilbanks, Recording Secretary
APPROVAL OF MINUTES
1. Review of Minutes of the Investment Oversight Committee Meeting of November 14,
2019:
ACTION: UPON MOTION BY COMMITTEE MEMBER JOHNSON, SECONDED BY
COMMITTEE MEMBER HARMON, CARRIED 4-0-1 (Committee Member Humphrey
absent), to approve the November 14, 2019 minutes, as presented.
PUBLIC COMMENT
None.
--End of Public Comment--
BUSINESS ITEMS
2. Presentation of the Quarterly Investment Report on Portfolio Performance
Monique Spyke, Managing Director for PFM Asset Management LLC, provided a PowerPoint
presentation and responded to Committee inquiries.
Public Comment
None.
--End of Public Comment--
City of San Luis Obispo, Title, Subtitle
Minutes - Investment Oversight Committee Minutes of Thursday, February, 13, 2020 Page 2
ACTION: UPON MOTION BY COMMITTEE MEMBER JOHNSON, SECONDED BY
COMMITTEE MEMBER HARMON, CARRIED 4-0-1 (Committee Member Humphrey
absent), to accept the Quarterly Investment Report and confirm compliance with the City’s
Investment Policy, with the following addition:
• Managing Director Monique Sykes will provide an additional slide, for the official record,
showing compliance with the Socially Responsible Investing component of the Investment
Management Plan.
COMMENT AND DISCUSSION
Finance Director Elke provided a Cash Flow Analysis update and an agenda forecast. Committee
Member Harmon asked for a presentation to assess the possibility to divest from investments in
weapons, arms, and akin industries. The item will be placed on the next committee agenda.
ADJOURNMENT
The meeting was adjourned at 2:19 p.m. The next Regular Meeting of the Investment Oversight
Committee is scheduled for Thursday, May 14, 2020, at 1:30 p.m., in the Council Hearing
Room, 990 Palm Street, San Luis Obispo, California.
APPROVED BY INVESTMENT OVERSIGHT COMMITTEE: 05/14/2020