HomeMy WebLinkAbout11-12-2020 IOC Minutes
Minutes
Investment Oversight Committee
Thursday, November 12, 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,
November 12, 2020, at 1:40 p.m., by Chair Brigitte Elke with all member present via teleconference.
.
ROLL CALL
Present: Committee Members Natalie Harnett, Derek Johnson, Debbie Malicoat, and
Chair Brigitte Elke
Absent: Committee Members Heidi Harmon and Committee Member Daniel Humphrey
(Public Member)
Others Present: Monique Spyke, Managing Director 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 September 24,
2020:
ACTION: UPON MOTION BY COMMITTEE MEMBER JOHNSON, SECONDED BY
COMMITTEE MEMBER MALICOAT, CARRIED 4-0-2 (WITH MEMBER HARMON
AND MEMBER HUMPHREY absent), to approve the September 24, 2020 minutes, as
presented.
PUBLIC COMMENT
None
--End of Public Comment--
City of San Luis Obispo, Title, Subtitle
Minutes - Investment Oversight Committee Minutes of Thursday, November, 12, 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 JOHNSON, SECONDED BY
COMMITTEE MEMBER HARNETT, CARRIED 4-0-2, (WITH MEMBER HARMON
AND MEMBER HUMPHREY absent) recommendation to approve and confirm investment
policy compliance.
3. Cash Flow Analysis and agenda forecast
Monique Spyke presented the cash flow analysis. Finance Director Elke provided an agenda
forecast.
Public Comment
None.
--End of Public Comment--
ACTION: UPON MOTION BY COMMITTEE MEMBER JOHNSON, SECONDED BY
COMMITTEE MEMBER MALICOAT, CARRIED 4-0-2, (WITH MEMBER HARMON
AND MEMBER HUMPHREY absent) recommendation to approve to reinvest excess
liquidity in longer-term, higher-yielding securities with a 15% liquidity cushion.
ADJOURNMENT
The meeting was adjourned at 1:30 pm. The next Regular Meeting of the Investment Oversight
Committee is scheduled for Thursday, February 11, 2021 at 1:30 p.m., in the Council Hearing
Room, 990 Palm Street, San Luis Obispo, California.
APPROVED BY INVESTMENT OVERSIGHT COMMITTEE: 02/11/2021