HomeMy WebLinkAboutInvestment Advisory Board - IAB - Agenda - Study Session - 0TUESDAY, F'EBRUARY 21 AT 4:00 PM
HUNTINGTON BEACH CITY BALL, B-8
Investment Advisory Board (IAB) Members and City Staff
Contact Alisa Cutchen: City Treasurer (714) 536-5200
Agenda Items
1. Call to Order
2. Roll Call
3. New Business
• Overview of Investment Advisory Board Activity for the period of
October 1, 2010 through September 30, 2011
• Economic Update — Senior Vice President, Institutional Client Group,
Citigroup Global Markets: William Blackwill
4. Adjournment to 'Thursday, April 19t`', 2012 at 6:30 p.m., Room B-7
xB -9- Item 1. - 1
CITY OF HUNTINGTON BEACH
INVESTMENT ADVISORY BOARD (IAB)
ANNUAL REPORT TO THE CITY COUNCIL
FOR THE PERIOD OCTOBER 1, 2010 TO SEPTEMBER 30, 2011
October 1, 2011
Establishment of Board
The IAB was created to act in an advisory capacity to the City Council and City
Treasurer in matters pertaining to all of the City's investments by the City Council in
May, 1995 by Resolution #3284. The Board members are appointed by a member of the
City Council and are currently as follows:
Name
Council Member
Jerrold Clarke (chair)
Devin Dwyer
Joe Foye
Keith Bohr
Bob Glass
Don Hansen
David Hatch
Joe Carchio
Valerie Dickerson
Matthew Harper
Angela Rainsberger
Joe Shaw
Board Activities
The meetings of the Board for the fiscal year ended September 30, 2011 were open to the
public as required by Government Code 54950 and held on the following dates in City
Hall:
October 27, 2010 (Investment Advisory Board)
January 26, 2011 (Investment Advisory Board)
April 27, 2011 (Finance and Investment Advisory Board)
May 25, 2011 (Finance and Investment Advisory Board)
June 29, 2011 (Finance and Investment Advisory Board)
July 27, 2011 (Finance and Investment Advisory Board)
August 31, 2011 meeting was cancelled (Finance and
Investment Advisory Board)
September 28, 2011 meeting was cancelled due to lack of
quorum (Finance and Investment Advisory Board)
December 14, 2011 (Investment Advisory Board)
In addition, a joint study session with the City Council is scheduled to be held on
February 21, 2012.
The two major activities of the Board consisted of reviewing each monthly investment
report and reviewing the City of Huntington Beach Investment Policy annually, prior to
their presentation at a City Council meeting.
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Item 1. - 2 HB -10-
Investment Advisory Board Page Two
Annual Report to the City Council
As required under HB Municipal Code 2.110.040(b), the Board has reviewed matters
pertaining to the City's investments in the following areas:
• Reviewed the annual Investment Policy Statement.
• Discussed Cash Management and ensured that there was sufficient liquidity to meet
the next six month's estimated expenditures for all funds including the General Fund.
• Reviewed Risk -Return Analysis as it relates to Safety, Liquidity, and Yield.
• Reviewed Long -Term Investments and how cash flow forecasting enables the City to
match investments to budgeted expenditures.
• Reviewed New Investment Sources, as appropriate.
• Reviewed Proposed State or Federal Legislation impacting the City's Investments.
• Reviewed any Anticipated Exposure to Loss by looking at liquidity, credit & market
value of investments.
• Reviewed Quarterly and Monthly Reports prior to them being presented to the City
Council.
• Reviewed Quarterly Compliance with Investment Policy and no exceptions were
identified.
Based on the information reviewed by the Board for the period October 1, 2010 to
September 30, 2011, it appears that the City Treasurer has maintained compliance with
all requirements in the City's Investment Policy.
Respectfully submitted,
Jerrold Clarke
Chair — Investment Advisory Board
cc: Alisa Cutchen, City Treasurer
HB -11- Item 1. - 3
Esparza, Pa2x
From: Flynn, Joan
Sent: Tuesday, February 21, 2012 2:33 PM
To: Esparza, Patty
Subject: FW: Today's Study Session
-----Original Message -----
From: Keith.Bohr [mailto:keith.bohr@gmail.com]
Sent: Tuesday, February 21, 2012 2:30 PM
To: Wilson, Fred; Hansen, Don; Flynn, Joan
Subject: Today's Study Session
Sorry for the late notice, but I will not be able to attend our Study Session today, but plan to arrive at
some point during our closed session.
Thank you,
Keith Bohr
714-315-2143 cell
k98tittg Date,-2/2-k�ZI19_11___
Esparza, Patty
From: Flynn, Joan
Sent: Tuesday, February 21, 2012 2:33 PM
To: Esparza, Patty
Subject: FW: 2/21/12 meeting
-----Original Message -----
From: Boardman, Connie
Sent: Monday, February 20, 2012 10:21 PM
To: Wilson, Fred; Flynn, Joan
Subject: 2/21/12 meeting
Hi Fred and Joan,
will miss the study session, and part of closed session tomorrow. I should be at the meeting by 5:30.
Connie Boardman
Councilwoman
City of Huntington Beach
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