HomeMy WebLinkAbout08-08-2018 Minutes IAC IOC (unsigned)MINUTES
INVESTMENT ADVISORY (IAC) COMMITTEE
INVESTMENT OVERSIGHT (IOC) COMMITTEE
Wednesday, August 8,2018,3:00 p.m. - Finance Conference Room
PRESENT:
IAC COMMITTEE
Robert Foley, Chair
Ken Romero (absent)
Larry Sallinger
IOC COMMITTEE (non-voting)
Richard Rohm, City Treasurer
Will Kolbow, Finance Director (absent)
Rick Otto, City Manager (absent)
STAFF
Katrin Bandhauer, Assistant Finance Director
Josephine Chan, Investment/Revenue Officer
Diane Hornsby, Executive Assistant
1. Call to Order
Chairman Robert Foley called the meeting to order at 3:03 p.m.
2. Approval of Meeting Minutes of May 2, 2018.
Mr. Foley moved to approve; Mr. Sallinger seconded; motion carried.
3. Rate Summary
Highs and lows for various investments during period of July 2017 through June 2018.
Action: Received and filed.
4. Investment Portfolio Update
A report showing City's portfolio's investment percentages in various areas, as of July 30, 2018.
Action: Received and filed.
5. Treasurer's Investment Reports for April, May, and June, 2018
Explanation of disbursements, investment activity, and sales tax revenue by month.
Action: Received and filed.
6. Comparison of Investment Policy with Other Cities
Although the cities of Garden Grove, Tustin, and Anaheim have fewer restrictions in their
investment policies, Orange, which is more conservative, has seen a competitive rate of return in
investments compared to these cities.
7. Sales Tax Update
Sales tax receipts and the fifteen top business types comparing latest quarter to corresponding
quarter of previous year.
Action: Received and filed.
DATE OF ITEM NO. 2 PAGE / MEETING //7i?
Minutes of the Joint Meeting of the
Investment Advisory and Investment Oversight
Committees, August 8, 2018
8. i. Chapman Economic & Business Review
ii. California Forecast: Sales Trends & Economic Drivers
Findings by the forecast show a positive outlook for Orange County in 2018.
Action: Received and filed.
9. City Update
A verbal report was given regarding PERS unfunded liability and the upcoming Council election.
10. Next meeting date
Wednesday, November 7, 2018, at 3:00 p.m. in the Finance Conference Room.
11. Public Comment - None
12. Adjournment - The meeting adjourned at 3:42 p.m.
Robert Foley, Chair Richard Rohm, City Treasurer
Investment Advisory Committee Investment Oversight Committee
Distribution:
Mayor and City Council City Manager, IOC Investment/Revenue Officer
Administrative Services Director, IOC City Treasurer, IOC City Clerk
Investment Advisory Committee
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