HomeMy WebLinkAbout10-25-2023 Minutes IACMINUTES
City of Orange
Investment and Audit Committee
October 25, 2023
The Investment and Audit Committee of the City of Orange, California convened on October
25, 2023, 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 3:00 p.m.
1.1 PLEDGE OF ALLEGIANCE
Committee Member Mike Ludin led the flag salute.
1.2 ROLL CALL
Present: Mittmann, Prell, Christensen, Grampp, Ludin, and Rohm
Absent: Horton
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 26,2023.
A motion was made by Vice Chair Mittmann, seconded by Committee Member
Christensen, to approve the minutes as presented. The motion carried by the following
vote:
Ayes: Mittmann, Prell, Christensen, Grampp, Ludin, and Rohm
Noes: None
Absent: Horton
4. INVESTMENT ITEMS
4.1. 'Investment Portfolio Update.
Karl Meng, Portfolio Strategist with Chandler Asset Management, presented the City of
Orange Investment and Portfolio Report for July through August 2023.
ACTION: Received and filed.
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Investment and Audit Committee Minutes-Draft October 25,2023
4.2. Comparison of various terms of US Treasury bond yields with Local Agency
Investment Fund (LAIF) yields in a Rate Summary for September 2022-
September 2023.
ACTION: Received and filed.
4.3. Review of July - September 2023 Treasurer's Investment Report for presentation.
to City Council.
ACTION: Received and filed.
5. ECONOMIC UPDATES
5.1. California Forecast Sales Tax Trends and Economic Drivers-September 2023.
ACTION: Received and filed.
5.2. Quarterly Sales Tax Update April -June 2023.
ACTION: Received and filed.
6. CITY MANAGER FINANCIAL UPDATE
City Manager, Tom Kisela, gave a brief financial update.
7. ADJOURNMENT
There being no further business, the meeting was adjourned at 4:34 p.m.
The next regular meeting will be held on Wednesday, January 24, 2024, at 3:00 p.m. in
the Weimer Room, 300 E. Chapman Avenue, Orange, CA 92866.
ichard Rohm, City Treasurer
Chair
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