2015 03 11 IAB MinutesREPORTS AND INFORMATIONAL ITEM: 23
INVESTMENT ADVISORY BOARD
Wednesday, March 11, 2015
CALL TO ORDER
A regular meeting of the La Quinta Investment Advisory Board was called to order
at 4:03 p.m. by Chairperson Donais.
PRESENT: Board Members Spirtos, Donais and Mortenson
ABSENT: Board Members Park and Godbey
STAFF PRESENT: Finance Director Rita Conrad, and Senior Secretary, Vianka
Orrantia
PUBLIC COMMENT - None
CONFIRMATION OF AGENDA— Confirmed
APPROVAL OF MINUTES
Approval of the Minutes of January 14, 2014
Motion — A motion was made by Board Members Spirtos/Mortenson to approve the
Minutes of January 14, 2015. AYES: Board Members Mortenson, Spirtos and
Donais. NOES: None. ABSENT: Board Members Godbey and Park ABSTAIN:
None.
CONSENT CALENDAR ITEMS
1 . Receive and File Treasurer's Reports for December 31, 2014 and January 31,
2015 and the Pooled Money Investment Board Reports for December 2014 and
January 2015
Mrs. Conrad presented and reviewed the Treasurer's Reports for December 31,
2014 and January 31, 2015 and the Pooled Money Investment Board Reports for
December 2014 and January 2015.
Motion — A motion was made by Board Members Mortenson/jSpirtos to receive and
file the Treasurer's Report for December 31, 2014 and January 31, 2015 and the
INVESTMENT ADVISORY MINUTES 1 March 11, 201E
Pooled Money Investment Board Reports for December 2014 and January 2015 as
with the Treasurer's report amendment pending the follow-up on G.E. Banks.
AYES: Board Members Mortenson, Spirtos, and Donais. NOES: None. ABSENT:
Board Members Godbey and Park ABSTAIN: None.
BUSINESS SESSION
1. Consideration of Fiscal Year 2015/2016 Investment Policy and Work Plan
Items
Mrs. Rita Conrad advised that the City is currently updating their Municipal Code.
The Government Code states that a Treasurer's Report can be reported on a
quarterly basis and the City Ordinance specifies that the Investment Advisory Board
usually meets monthly unless the Board with Council concurrence believes less
frequent meetings are considered necessary. As a result, Mrs. Conrad asked the
Board if they would consider meeting on a quarterly basis versus monthly. It was
the consensus of the Board to meet on a quarterly basis.
Motion — A motion was made by Board Member Mortenson/Spirtos to continue the
review of the Fiscal Year 2015/2016 Investment Policy and Work Plan. AYES:
Board Members Mortenson, Spirtos and Donais. NOES: None. ABSENT: Board
Members Godbey and Park ABSTAIN: None.
CORRESPONDENCE AND WRITTEN MATERIAL - None
BOARD MEMBER ITEMS - None
DIRECTOR'S ITEMS
Mrs. Conrad and ' Chairperson Donais updated the Board on the City Council's
decision to continue further discussion in regards to the Reserve Policy. In
addition, Mrs. Conrad updated the Board on the joint meeting with all
Boards/Commissions and City Council.
ADJOURNMENT
There being no
Spirtos/Mortenson
unanimously.
further business, it was moved by
to adjourn this meeting at 4:31 p.m.
Board Members
Motion passed
INVESTMENT ADVISORY MINUTES 2 March 11, 201254
Res,PaYly submit ` ` ,
iank ''Orrantia, Ser a r Secreta
Cit bf La Quinta, California
INVESTMENT ADVISORY MINUTES 3 March 11, 20)A