HomeMy WebLinkAbout05-14-2020 IOC Minutes
Minutes
Investment Oversight Committee
Thursday, May 14, 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, May 14,
2020, at 1:30 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 Daniel Humphrey (Public Member)
Others Present: Monique Spyke, Managing Director for PFM Asset Management LLC, David
Reeser Managing Director for PFM Asset Management LLC, Natalie Harnett,
Staff, and Serenity Whorley, Recording Secretary
Note: Due to Covid-19 “Shelter at Home” orders, the meeting was held via Webinar.
PUBLIC COMMENT ITEMS NOT ON THE AGENDA
None.
--End of Public Comment--
APPROVAL OF MINUTES
1. Review of Minutes of the Investment Oversight Committee Meeting of February 13. 2020:
ACTION: UPON MOTION BY COMMITTEE MEMBER JOHNSON, SECONDED BY
COMMITTEE MEMBER MALICOAT, CARRIED 4-0-1 (Committee Member Humphrey
absent), to approve the February 13, 2020 minutes, as presented.
PUBLIC COMMENT
None
--End of Public Comment--
City of San Luis Obispo, Title, Subti tle
Minutes - Investment Oversight Committee Minutes of 14, May 2020 Page 2
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--
ACTION: UPON MOTION BY COMMITTEE MEMBER MALICOAT, SECONDED BY
COMMITTEE MEMBER HARMON, CARRIED 4-0-1 (Committee Member Humphrey
absent), recommendation to approve and confirm investment policy compliance.
3. Presentation for ESG (Environmental, Social, and Governance) Investment Solutions
Monique Spyke and David Reeser provided a PowerPoint presentation on ESG Investments and
responded to Committee inquiries.
Public Comment
Kelsey Zazanis
Jane Swanson
--End of Public Comment--
ACTION: UPON MOTION BY COMMITTEE MEMBER JOHNSON, SECONDED BY
COMMITTEE MEMBER HARMON, CARRIED 4-0-1 (Committee Member Humphrey
absent), recommendation to approve the investment philosophy and make a recommendation
to the City Council to adopt a policy for ESG investments.
COMMENT AND DISCUSSION
Finance Director Elke provided an agenda forecast.
ADJOURNMENT
The meeting was adjourned at 3:08 pm. The next Regular Meeting of the Investment Oversight
Committee is scheduled for Thursday, August 13, 2020, at 1:30 p.m., in the Council Hearing
Room, 990 Palm Street, San Luis Obispo, California.
APPROVED BY INVESTMENT OVERSIGHT COMMITTEE: 09/24/2020