Palos Verdes Estates, CA
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Investment Policy Advisory Committee Special Meeting
- Date: 11/30/2022 3:00 PM - 5:00 PM
- Location: Council Chambers of City Hall
340 Palos Verdes Drive West
Palos Verdes Estates, California 90274
November 30, 2022
3:00 PM
Council Chambers of City Hall
340 Palos Verdes Drive West
Palos Verdes Estates, CA 90274
3:00 PM
Council Chambers of City Hall
340 Palos Verdes Drive West
Palos Verdes Estates, CA 90274
AGENDA
OF A SPECIAL MEETING
OF THE INVESTMENT POLICY ADVISORY COMMITTEE
OF PALOS VERDES ESTATES, CA 90274
Upon request, the agenda and documents in the agenda packet can be made available in appropriate alternative formats to persons with a disability in compliance with the Americans with Disabilities Act. Please contact the City Clerk at 310-378-0383, at least 48 hours prior to the meeting to request a disability-related modification or accommodation.
The Investment Policy Advisory Committee is a new committee, effective July 1, 2017. With the City Treasurer, the Committee shall be responsible for recommending investment brokers, proposing changes to investment policy and practices, presenting investment reports, and evaluating and recommending banking-related matters. Meetings are to review, discuss and develop recommendation on matters such as investment and banking vendors, policy, transactions, returns and performance, brokers, and strategy. The Investment Policy Advisory Committee, at the direction of the Chairman with concurrence of the Committee, may modify the order of items shown on the agenda.
Any person having any question concerning any agenda item may call the Secretary to make inquiry concerning the item. Upon request, the agenda and, if any, documents in the agenda packet can be made available in appropriate alternative formats to persons with a disability in compliance with the Americans with Disabilities Act. Please contact the Secretary at 310-378-0383, at least 24 hours prior to the meeting to request a disability-related modification or accommodation.
The Investment Policy Advisory Committee welcomes and encourages public participation at the Committee meetings.
IMPORTANT NOTE: This meeting will be held in person at City Hall Chambers. Attendance will not be available via Zoom.
Agenda reports and other disclosable public documents relating to each Agenda Item are available on the City’s website under Investment Policy Advisory Meeting Agendas at www.pvestates.org.
CALL TO ORDER
ROLL CALL
APPROVAL OF AGENDA
COMMUNICATIONS FROM THE PUBLIC
This portion of the agenda is reserved for comments from the public on items which are NOT on the agenda. Due to state law, no action can be taken by the Council this evening on matters presented under this section. If the Council determines action is warranted, the item may be referred to staff or placed on a future Council agenda.
This portion of the agenda is reserved for comments from the public on items which are NOT on the agenda. Due to state law, no action can be taken by the Council this evening on matters presented under this section. If the Council determines action is warranted, the item may be referred to staff or placed on a future Council agenda.
NEW BUSINESS
1. REVIEW AND APPROVE THE INVESTMENT REPORT FOR THE FISCAL YEAR AND QUARTER ENDED ON JUNE 30, 2022.
Recommendation: Review and approve the June 30, 2022 Investment Report.
2. REVIEW AND APPROVE THE INVESTMENT REPORT FOR THE FIRST FISCAL QUARTER ENDED ON SEPTEMBER 30, 2022.
Recommendation: Review and approve the June 30, 2022 Investment Report.
3. REVIEW PORTFOLIO INVESTMENT STRATEGY.
Recommendation: Review and make recommendations regarding the portfolio investment strategy. This is a standing item on the agenda.
4. REVIEW AND DISCUSS THE 2022-2023 PALOS VERDES ESTATES INVESTMENT POLICY DATED JUNE 28, 2022.
Recommendation: No action required. This is primarily to answer any questions new IPAC members have and to remind existing members of the Policy guidelines.
5. DISCUSS AND AGREE UPON OPTIMAL TIME FOR FUTURE IPAC MEETINGS.
Recommendation: Obtain consensus from members in attendance regarding first and second preference for meeting days and times. Chair to follow up with any absent members regarding their preferences and will prepare a report proposing the new dates/times for City Council to review and approve at an upcoming meeting. FUTURE AGENDA ITEMS
6. LIST AND PRIORITIZE AGENDA ITEMS FOR FUTURE MEETINGS
a. Monthly PVE Cash Flow Forecast
b. Update regarding transfer of depository accounts to US Bank following its acquisition of MUFG Union Bank’s core regional banking business, effective December 1, 2022.
c. Inviting City Brokers to present at future meetings
d. Other?
Recommendation: Review list of suggested topics listed in prior meeting Minutes; consider new topics. Make recommendations regarding topics for next meeting and future meetings.
ADJOURNMENT TO TUESDAY, JANUARY 17, 2023 AT 4:00 P.M.
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