2013 06 12 IAB MinutesINVESTMENT ADVISORY BOARD
MINUTES
WEDNESDAY, JUNE 12, 2013
CALL TO ORDER
A regular meeting of the La Quinta Investment Advisory Board was called to order
at 4:00 p.m. by Chairman Blum.
PRESENT: Board Members Donais, Blum, Spirtos and Park
ABSENT: Board Member Mortenson
STAFF PRESENT: Finance Director, Robbeyn Bird, City Manager, Frank Spevacek,
City Attorney, Kathy Jenson (via teleconference) and Senior
Secretary, Vianka Orrantia
PUBLIC COMMENT — None
CONFIRMATION OF AGENDA — Confirmed
APPROVAL OF MINUTES
Approval of the Minutes of May 8, 2013
Motion — A motion was made by Board Members Park/Spirtos to approve the
Minutes of May 8, 2013. Motion passed unanimously.
CONSENT CALENDAR ITEMS
1. Transmittal of Treasury Report for April 30, 2013
Ms. Bird presented and reviewed the staff report for the month of March.
Motion — A motion was made by Board Members Spirtos/Donais to review, receive
and file the Treasurer's Report for April 30, 2013. Motion passed unanimously.
BUSINESS SESSION
1 - Consideration of Fiscal Year 2013/2014 Investment Policy and Work Plan Items
INVESTMENT ADVISORY MINUTES 1 June 12, 2013
Ms. Bird advised that the 2013/2014 Investment Policy is presented with the final
changes/additions/deletions incorporated within the policy.
At this time Staff Item No. 1 was discussed. - Mr. Spevacek advised the Board of
the City Council's consideration of procuring a Money Management Investment
Firm.
Motion - It was moved by Board Members Park/Spirtos to approve the amended
2013/2014 Investment Policy and proceed for final approval by the City Council at
the June 18, 2013 meeting. Motion passed unanimously.
2013/2014 Investment Advisory Board Work Plan Items
Motion - A motion was made by Board Members Spirtos/Park to approve the
2013/2014 Investment Advisory Board Work Plan and proceed for final approval by
the City Council at the June 18, 2013. Motion passed unanimously.
CORRESPONDENCE AND WRITTEN MATERIAL
1 - Month End Cash Report, May 2013 and the Pooled Money Investment Board
Reports - April 2013
Noted and Filed
BOARD MEMBER ITEMS - None
STAFF ITEMS
1. Money Management Investment Firm - (This item was discussed under
Business Session Item No. 1)
Mr. Spevacek updated the Board on the
operating expense surplus, in addition to
Redevelopment Agency litigation.
ADJOURNMENT
City's upcoming Fiscal Year 2013/2014
updating the Board on the status of the
There being no further business, it was moved by Board Members Donais/Park to
adjourq,this-m�e,etin
_g--at.4:44 p.m. Motion passed unanimously.
ully
11
Vianka Orranf—ia, Senior Secretary
City of La Quinta, California
INVESTMENT ADVISORY MINUTES 2 June 12, 2013