2013 08 14 IAB MinutesINVESTMENT ADVISORY BOARD
MINUTES
WEDNESDAY, AUGUST 14, 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 Mortenson (via
teleconference call)
ABSENT: Board Member Park
STAFF PRESENT: Finance Director, Robbeyn Bird, and Senior Secretary, Vianka
Orrantia
APPOINTMENT OF OFFICERS
1. Appointment of Investment Advisory Board Chairperson
Chairman Blum opened nominations for Chairperson. Board Member Spirtos
nominated Board Member Mortenson for the position of Chairperson.
With no other nominations, Chairman Blum closed the nominations.
Board Member Mortenson was unanimously elected as Chair.
2. Appointment of Investment Advisory Board Vice -Chairperson
Board Member Spirtos opened nominations for Vice -Chairperson and nominated
Board Member Donais for the position of Vice -Chairperson.
With no other nominations, Chairman Mortenson closed the nominations.
Board Member Donais was unanimously elected as Vice -Chair.
PUBLIC COMMENT — None
INVESTMENT ADVISORY MINUTES 1 August 14, 2013
CONFIRMATION OF AGENDA — Confirmed
APPROVAL OF MINUTES
Approval of the Minutes of June 12, 2013
Motion — A motion was made by Board Members Blum/Spirtos to approve the
Minutes of June 12, 2013. Motion passed unanimously.
CONSENT CALENDAR ITEMS
1. Transmittal of Treasury Report for May 31, 2013
Ms. Bird presented and reviewed the staff report for the month of May.
Motion — A motion was made by Board Members Spirtos/Blum to review, receive
and file the Treasurer's Report for May 31, 2013. Motion passed unanimously.
BUSINESS SESSION
1. Consideration of Fiscal Year 2013/2014 Meeting Schedule
Motion - It was moved by Board Members Blum/Donais to accept the Fiscal Year
2013/2014 Meeting Schedule as presented. Motion carried unanimously.
CORRESPONDENCE AND WRITTEN MATERIAL
1. Month End Cash Report, June 2013 and the Pooled Money Investment Board
Reports for May 2013 and June 2013
Noted and Filed
2. Distribution of Investment Policy for Fiscal Year 2013/2014
Noted and Filed
BOARD MEMBER ITEMS
In response to Chairman Mortenson, Ms. Bird summarized for the Board
Councilmen Osborne's request to revisit the possible use of a Money Manager, the
INVESTMENT ADVISORY MINUTES 2 August 14, 2013
Board's and staff's view on the use of a Money Manager and the Council's decision
not to use a Money Manager at this time.
ADJOURNMENT
There being no further business, it was moved by Board Members Blum/Donais to
adjourn this meeting at 4:24 p.m. Motion passed unanimously.
Resp;eatfully s b ' �'d '
Vianka Orran ia;�Senior Se retarryy—
City of La Quinta, California
INVESTMENT ADVISORY MINUTES 3 August 14, 2013