HomeMy WebLinkAbout09-09-2021 IOC Minutes
Minutes
Investment Oversight Committee
Thursday, September 9, 2021
Regular Meeting of the Investment Oversight Committee
CALL TO ORDER
A Regular meeting of the Investment Oversight Committee was called to order on Thursday,
September 9, 2021, at 1:32 p.m. in the Council Hearing Room at 990 Palm Street, San Luis Obispo,
California, by Chair Brigitte Elke.
ROLL CALL
Oath of Office: Oath of office taken by Committee Member Anni Wang
Present: Committee Members Natalie Harnett, Derek Johnson, Debbie Malicoat, Erica A.
Stewart, Anni Wang, and Chair Brigitte Elke
Others Present: David Reeser, Managing Director for PFM Asset Management LLC, Monique
Spyke, Managing Director for PFM Asset Management LLC, Sarah Walsh,
Senior Analyst for PFM Asset Management LLC, and Serenity Whorley,
recording secretary
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 May 13, 2021:
ACTION: UPON MOTION BY COMMITTEE MEMBER JOHNSON, SECONDED BY
COMMITTEE MEMBER STEWART, CARRIED 6-0-0, to approve the May 13, 2021
minutes, as presented.
PUBLIC COMMENT
None.
--End of Public Comment--
BUSINESS ITEMS
City of San Luis Obispo, Title, Subtitle
Minutes - Investment Oversight Committee Minutes of Thursday, September 9, 2021 Page 2
2. Presentation of ESG Investing 101.2
The City’s investment advisor provided additional insight into ESG investing and the critical
factors to be considered. This information will help in developing the commissioners’ ability to
read and interpret the ESG report results and applicable criteria.
3. 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 JOHNSON, CARRIED 6-0-0, to accept the quarterly report.
4. Retirement of the LIBOR Standard
The City’s investment advisor will provide a report on the retirement of the LIBOR Standard
and what it means for the City’s investments.
COMMENT AND DISCUSSION
The committee will review topics to discuss at the next regularly scheduled meeting.
ADJOURNMENT
The meeting was adjourned at 3:07 pm. The next Regular Meeting of the Investment Oversight
Committee is scheduled for Thursday, November 18, 20 21, at 1:30 p.m., in the Council
Hearing Room, 990 Palm Street, San Luis Obispo, California.
APPROVED BY INVESTMENT OVERSIGHT COMMITTEE: 11/18/2021