HomeMy WebLinkAbout10-30-2025 IOC Minutes
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Investment Oversight Committee Minutes
October 30, 2025, 10:30 a.m.
Conference Room 6 at City Hall, 990 Palm Street, San Luis Obispo
Investment Oversight
Committee Members
Present:
City Manager Whitney McDonald, Member Anni Wang, Chair
Emily Jackson, Riley Kuhn, Emily Francis
Investment Oversight
Committee Members
Absent:
Member Debbie Malicoat
City Staff Present: Administrative Assistant Michelle Karpovich
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1. CALL TO ORDER
A Regular Meeting of the San Luis Obispo Investment Oversight Committee was
called to order on October 30, 2025 at 10:30 a.m. in Room # 6 at City Hall, 990
Palm Street, San Luis Obispo, by Chair Jackson.
2. PUBLIC COMMENT FOR ITEMS NOT ON THE AGENDA
Public Comment:
--End of Public Comment--
3. CONSENT
3.a CONSIDERATION OF MINUTES - MAY 29, 2025 INVESTMENT
OVERSIGHT COMMITTEE MINUTES
Motion By Member Wang
Second By Riley Kuhn
To approve the Investment Oversight Committee Minutes of May 29, 2025.
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Ayes (4): City Manager Whitney McDonald, Member Wang, Riley Kuhn,
and Chair Jackson
Abstained (1): Emily Francis
Absent (1): Member Malicoat
CARRIED (4 to 0)
4. BUSINESS ITEMS
4.a PRESENTATION OF THE QUARTERLY INVESTMENT REPORT ON
PORTFOLIO PERFORMANCE & ECONOMIC OUTLOOK
Motion By Emily Francis
Second By Riley Kuhn
To approve the Quarterly Investment Report on Portfolio Performance and
Economic Outlook for the second quarter.
Ayes (5): City Manager Whitney McDonald, Member Wang, Chair
Jackson, Riley Kuhn, and Emily Francis
Absent (1): Member Malicoat
CARRIED (5 to 0)
4.b ANNUAL REVIEW OF CITY INVESTMENT POLICY AND MANAGEMENT
PLAN
Justin Resuello with PFM Asset Management LLC, provided an update via
PowerPoint presentation and responded to Committee inquiries.
Public Comment:
--End of Public Comment--
Motion By City Manager Whitney McDonald
Second By Member Wang
Committee directed staff to continue the item to the next meeting
scheduled for November 20, 2025 and provided direction to staff to revise
the City's Investment Policy and Management Plan as follows:
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• Add the following industries to the list of the City’s investment
exclusions: e-cigarettes, gambling, casinos, and racetracks.
• Incorporate language to reflect recently signed legislation.
Ayes (5): City Manager Whitney McDonald, Member Wang, Chair
Jackson, Riley Kuhn, and Emily Francis
Absent (1): Member Malicoat
CARRIED (5 to 0)
5. COMMENT AND DISCUSSION
5.a STAFF UPDATES AND AGENDA FORECAST
Chair Jackson provided updates.
6. ADJOURNMENT
The meeting was adjourned at 11:40 a.m. The next Regular Meeting of the
Investment Oversight Committee is scheduled for November 20, 2025.
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APPROVED BY INVESTMENT OVERSIGHT COMMITTEE: 11/20/2025