2017 02 15 IAB MinutesCALL TO ORDER
INVESTMENT ADVISORY BOARD
MINUTES
WEDNESDAY, February 15, 2017
A special meeting of the La Quinta Investment Advisory Board was called to order at
4:00 p.m. by Chairperson Batavick.
PRESENT: Board Members Mills, Rosen, Johnson, Turbow, and Chairperson
Batavick
ABSENT: None
STAFF PRESENT: Finance Director Karla Campos, Financial Services Analyst
Rosemary Hallick, and Management Assistant Jessica Delgado.
PLEDGE OF ALLEGIANCE
Board Member Johnson led the audience in the pledge of allegiance.
PUBLIC COMMENT - None.
At this time Chairperson Batavick introduced new board members Steven Rosen
and Richard Mills.
CONFIRMATION OF AGENDA - Confirmed
APPROVAL OF MINUTES
Chairperson Batavick said the year in Director's Item No. 3 on page 2 should be 2017
instead of 2016.
Motion - A motion was made and seconded by Board Members Turbow/Johnson to
approve the Minutes of November 9, 2016, as amended. Motion passed unanimously.
CONSENT CALENDAR ITEMS
1. Receive and File the 2nd Quarter Fiscal Year 2016/17 Treasury and Pooled
Money Report (Oct, Nov, and Dec 2016)
Finance Director Campos presented the staff report, which is on file in the Finance
Department.
INVESTMENT ADVISORY MINUTES 1 FEBRUARY 15, 2017
SPECIAL MEETING
Motion - A motion was made and seconded by Board Members Mills/Johnson to
receive and file the Second Quarter Fiscal Year 2016/17 Treasury and Pooled Money
Reports for October, November, and December 2016 Motion passed unanimously.
BUSINESS SESSION - None.
CORRESPONDENCE AND WRITTEN MATERIAL - None.
BOARD MEMBERS' ITEMS
1. Investment Advisory Board expanded duties update.
Finance Director Campos provided the Board with a verbal update on expanded duties.
DIRECTOR'S ITEMS
1. Finance Director Campos provided a handout and gave a verbal update on the
timeline and process of the Request for Proposals for City-wide auditing
services. Chairperson Batavick and Board Member Rosen volunteered to assist
with the review and selection process of an auditing firm.
2. Finance Director Campos gave a verbal update on the Mid -Year Budget Report
and noted a special meeting will be required in late March for an update on
Measure G oversight, audit firm selection, cash flow analysis, and Investment
Policy.
ADJOURNMENT
There being no further business, it was moved and seconded by Board Members
Turbow/Johnson to adjourn this meeting at 5:46 p.m. Motion passed unanimously.
Respectfully submitted,
Jessica Delgado, Management Assistant
City of La Quinta, California
INVESTMENT ADVISORY MINUTES 2 FEBRUARY 15, 2017
SPECIAL MEETING