2013 03 13 IAB MinutesINVESTMENT ADVISORY BOARD
MINUTES
WEDNESDAY, MARCH 13, 2013
CALL TO ORDER
A regular meeting of the La Quinta Investment Advisory Board was called to order
at 4:08 p.m. by Chairman Blum.
PRESENT: Board Members Mortenson, Blum, Spirtos, Park and Donais
ABSENT: None
STAFF PRESENT: Finance Director, Robbeyn Bird and Senior Secretary, Vianka
Orrantia
PUBLIC COMMENT - None
CONFIRMATION OF AGENDA - Confirmed
APPROVAL OF MINUTES
Approval of the Minutes of January 9, 2013
Motion - A motion was made by Board Members Spirtos/Park to approve the
Minutes of January 9, 2013. Motion passed unanimously.
CONSENT CALENDAR ITEMS
1. Transmittal of Treasury Report for December 2012 and January 2013
Ms. Bird presented and reviewed the staff reports for the month of December 2012
and January 2013.
Motion - A motion was made by Board Members Parks/Donais to review, receive
and file the Treasurer's Reports for December 2012 and January 2013. Motion
passed unanimously.
INVESTMENT ADVISORY MINUTES 1 March 13, 2013
BUSINESS SESSION
1. Consideration of Fiscal Year 2013/2014 Investment Policy and Work Plan Items
Ms. Bird presented the draft 2013/2014 Investment Policy and a draft 2013/2014
Statement of Investment Policy according to the Association of Public Treasurers
of the United States & Canada (APT) Investment Policy Certification as well as a
copy of APT's Investment Policy Certification and the approved 2012/2013 work
plan item staff report from the previous year for the Board's review and
consideration for the upcoming fiscal year. Ms. Bird advised that the advantage to
certifying the City's Investment Policy is additional review certifying the policy is in
compliance according to the states government codes.
In response to Board Member Mortenson, Ms. Bird advised that the only change to
the policy staff is recommending at this time is an increase in LAIF to $50 million
and the elimination of the 30% investment limit requirement.
Motion — It was moved by Board Members Mortenson/Donais to continue the
review of the 2013/2014 Investment Policy. Motion carried unanimously.
Board Member Spirtos asked the Board to consider incorporating "serving as City
liaisons" as part of the 2013/2014 Work Plan.
Motion — It was moved by Board Members Spirtos/Mortenson to continue the
review of the 2013/2014 Work Plan Items.
CORRESPONDENCE AND WRITTEN MATERIAL
1. Month End Cash Reports for January 2013 and February 2013 and the Pooled
Money Investment Board Reports for December 2012 and January 2013
Ms. Bird presented the staff reports for January 2013 and February 2013 and the
Pool Money Investment Board Reports for December2012 and January 2013.
Noted and Filed. .
BOARD MEMBER ITEMS
In response to Board Member Mortenson, Ms. Bird
Oversight Board's decision to approve the transfer
properties as well the status of the Department
Controller's activities.
updated the Board on the
of certain governmental use
of Finance and the State
INVESTMENT ADVISORY MINUTES 2 March 13, 2013
ADJOURNMENT
There being no further business, it was moved by Board members Mortenson/Park
to adjourn this meeting at 4:52 p.m. Motion passed unanimously.
Vianka Orr6nti6, Senior Sabi
City of La Quinta, California
INVESTMENT ADVISORY MINUTES 3 March 13, 2013