2016 08 10 IAB Minutes
INVESTMENT ADVISORY MINUTES 1 AUGUST 10, 2016
INVESTMENT ADVISORY BOARD
MINUTES
WEDNESDAY, AUGUST 10, 2016
CALL TO ORDER
A regular meeting of the La Quinta Investment Advisory Board was called to order at
4:00 p.m. by Finance Director Campos.
PRESENT: Board Members Batavick, Johnson, and Turbow
ABSENT: None
STAFF PRESENT: Finance Director Karla Campos, Accounting Manager Tara
Robinson, Financial Services Analyst Diane Martin, and Deputy City
Clerk Monika Radeva
APPOINTMENT OF OFFICERS
1. Appointment of Investment Advisory Board Chairperson
Motion – A motion was made and seconded by Board Members Turbow/Johnson to
appoint Board Member Batavick as Chairperson. Motion passed unanimously.
2. Appointment of Investment Advisory Board Vice-Chairperson
Motion – A motion was made and seconded by Board Members Turbow/Batavick to
appoint Board Member Johnson as Vice-Chairperson. Motion passed unanimously.
PUBLIC COMMENT – None
CONFIRMATION OF AGENDA – Confirmed
APPROVAL OF MINUTES
Motion – A motion was made and seconded by Board Members Batavick/Johnson to
approve the Minutes of May 11, 2016 as submitted. Motion passed unanimously.
CONSENT CALENDAR ITEMS
1. Receive and File the Third Quarter Fiscal Year 2015/2016 Treasury and Pooled
Money Reports for January, February, and March 2016
INVESTMENT ADVISORY MINUTES 2 AUGUST 10, 2016
Finance Director Campos commended Financial Services Analyst Diane Martin for her
continuous hard work and efforts in preparing the Quarterly Fiscal Year Treasury
reports.
Finance Director Campos introduced Accounting Manager Tara Robinson who joined
the La Quinta team on August 8, 2016.
Finance Director Campos presented the staff report, which is on file in the Finance
Department.
Motion – A motion was made and seconded by Board Members Batavick/Johnson to
receive and file the Fourth Quarter Fiscal Year 2015/2016 Treasury and Pooled Money
Reports for April and May 2016.
BUSINESS SESSION
1. Overview of Fiscal Year 2016/2017 Investment Policy and Work Plan Items
Finance Director Campos presented the staff report, which is on file in the Finance
Department.
Motion – A motion was made and seconded by Board Members Batavick/Turbow to
approve the overview of Fiscal Year 2016/2017 Investment Policy and Work Plan
Items. Motion passed unanimously.
CORRESPONDENCE AND WRITTEN MATERIAL – None
BOARD MEMBERS’ ITEMS – None
DIRECTOR’S ITEMS
1. Update on the Fiscal Year 2016/2017 Budget
Finance Director Campos provided the Board with copies of the approved City’s Fiscal
Year 2016/2017 Budget.
2. Update on consideration to expand the Investment Advisory Board duties
Finance Director Campos said the City Council, at the July 19, 2016 meeting, during
study session discussed expanding the job duties of the Investment Advisory Board
and renaming it to “Finance Advisory and Oversight Board.” The Council will further
consider these changes at a future meeting.
INVESTMENT ADVISORY MINUTES 3 AUGUST 10, 2016
ADJOURNMENT
There being no further business, it was moved and seconded by Board Members
Johnson/Batavick to adjourn this meeting at 5:20 p.m. Motion passed unanimously.
Respectfully submitted,
Monika Radeva, Deputy City Clerk
City of La Quinta, California