2012 09 12 IAB MinutesINVESTMENT ADVISORY BOARD
Meeting
September 12, 2012
CALL TO ORDER
Regular meeting of the La Quinta Investment Advisory Board was called to order at the
hour of 4:00 p.m. by Chairman Blum followed by the Pledge of Allegiance.
PRESENT: Board Members Mortenson (via teleconference), Donais
Blum, Spirtos and Park
ABSENT: None
OTHERS PRESENT: Robbeyn Bird, Finance Director, Louise West, Accounting
Manager and Vianka Orrantia, Senior Secretary
At this time Ms. Robbeyn Bird, Finance Director introduced herself and gave a brief
background of her employment history.
II PUBLIC COMMENT - None
III CONFIRMATION OF AGENDA - Confirmed
IV CONSENT CALENDAR
A. Approval of Minutes of Meeting on July 11, 2012 for the Investment Advisory
Board.
Board Member Donais requested that a correction be made to page 3 Item B,
second paragraph to read; Mr. Falconer further advised that the yield decreased
by approximately 5 basis points and the maturity increased by approximately 40
Wits
MOTION - It was moved by Board Members Park / Donais to approve the Minutes
of July 11, 2012 as amended. Motion carried unanimously.
V BUSINESS SESSION
A. Transmittal of Treasury Report for June and July 2012
Ms. Bird presented and reviewed the staff report for the month of June 2012.
In response to Chairman Blum, Ms. Bird advised that she is pleased with the
current format of the Treasurer's report and staff is open to any suggestions
and /or changes.
MOTION — It was moved by Board Members Spirtos /Park to review, receive,
and file the Treasurers Report for June 30, 2012. Motion carried unanimously.
Ms. Bird presented and reviewed the staff report for the month of July.
In response to Board Member Spirtos, Board Member Donais clarified that the
City has been investing in short-term investments due to the current interest
rate environment.
MOTION — It was moved by Board Members Donais /Park to review, receive, and
file the Treasurers Report for July 2012. Motion carried unanimously.
VI CORRESPONDENCE AND WRITTEN MATERIAL
A. Month End Cash Report — August 2012
Ms. Bird presented and reviewed the Month End Cash report for the month of
August.
Noted and Filed
B. Pooled Money Investment Board Reports — June and July 2012
Ms. Bird presented and reviewed the Pooled Money report for the month of
June and July 2012.
General Discussion ensued amongst the Board regarding future attendance to
the LAIF Conference in Sacramento.
Noted and Filed
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VII BOARD MEMBER ITEMS
In response to Board Member Mortenson, Ms. Bird advised that the broker
considered for future purchases of CD's is First Empire Securities located in
New York. She further advised that staff would consider any other brokers
recommended by the Board.
Chairman Blum asked staff to follow -up on who is required to attend this year's
AB 1234 Ethics Training.
VIII ADJOURNMENT
MOTION - It was moved by Board Members Spirtos /Park to adjourn the meeting at
4:24 p.m. Motion carried unanimously.
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