HomeMy WebLinkAbout10-26-2022 IAC MinutesMINUTES
City of Orange
Investment and Audit Committee
October 26, 2022
The Investment and Audit Committee of the City of Orange, California convened on October
26, 2022, at 3:00 p.m. in a Regular Meeting in the Weimer Room, 300 E. Chapman Avenue,
Orange, California.
1. OPENING/CALL TO ORDER
Chair Rohm called the meeting to order at 3:07 p.m.
1.1 PLEDGE OF ALLEGIANCE
Led by Chair Rohm.
1.2 ROLL CALL
Present: Mittmann,Prell,Christensen,Grampp, and Rohm
Absent: None
2. PUBLIC COMMENT
None.
3. APPROVAL OF MINUTES
3.1. Approval of minutes of the City of Orange Investment and Audit Committee
Regular meeting held on July 27,2022.
A motion was made by Committee Member Mittmann, seconded by Committee
Member Prell, that these Minutes be Approved. The motion carried by the following
vote:
Ayes: Mittmann,Prell, and Rohm
Noes: None
Absent: None
Abstain: Christensen, and Grampp
4. SELECTION OF INVESTMENT AND AUDIT COMMITTEE OFFICER
Selection of a Vice Chair for a one-year term ending July 30, 2023.
A motion was made by Committee Member Prell, seconded by Chair Rohm, to select
Committee Member Mittmann as Vice Chair of the Investment and Audit Committee of
the City of Orange. The motion carried by the following vote
Ayes: Mittmann,Prell,Christensen,Grampp, and Rohm
Noes: None
Absent: None
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Investment and Audit Committee Minutes October 26,2022
5. INVESTMENT ITEMS
5.1. Rate Summary September 2021 -September 2022
ACTION: Received and filed.
5.2. Investment Portfolio Update
Jayson Schmitt, Co-Chief Investment Officer at Chandler Asset Management,
presented their Investment Report for the City's Account Profile and Portfolio Holdings
through September 30, 2022.
ACTION: Received and filed.
5.3. Treasurer's Investment Report
ACTION: Received and filed.
6. AUDIT ITEMS
Will Kolbow, Assistant City Manager/Adminstrative Services Director, updated
committee on status of ongoing audit. Audit representative will attend next meeting.
7. ECONOMIC UPDATES
7.1. Sales Tax Update, Q2
ACTION: Received and filed.
7.2. California Forecast Sales Tax Trends and Economic Drivers
ACTION: Received and filed.
8. CITY UPDATE
9. ADJOURNMENT
There being no further business, the meeting was adjourned at 4:36 p.m.
The next regular meeting will be held on Wednesday, January 25, 2023, at 3:00 p.m. in
the Weimer Room, 300 E. Chapman Avenue, Orange, CA 92866.
2a
RICHARD ROHM, CITY TREASURER
CHAIR
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