AGENDA
OF A REGULAR MEETING
OF THE INVESTMENT POLICY ADVISORY COMMITTEE
OF PALOS VERDES ESTATES, CA 90274

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1.	MINUTES OF THE REGULAR MEETING OF THE INVESTMENT ADVISORY COMMITTEE HELD ON FEBRUARY 21, 2024 Recommendation: Review and approve.

2.	MINUTES OF THE SPECIAL MEETING OF THE INVESTMENT ADVISORY COMMITTEE HELD ON APRIL 19, 2023 Recommendation: Review and approve.

3.	INVESTMENT REPORTS FOR THE 3 MONTHS AND QUARTER ENDED MARCH 31, 2024. Recommendation: Review, approve and request staff to submit to City Council for approval at the next meeting.

4.

RE-CONFIRM IPAC SCHEDULE TO QUARTERLY, AT 3:00 PM, ON THE WEDNESDAYS THAT FALL CLOSEST TO, BUT NOT LATER THAN, THE 45TH DAY AFTER THE END OF THE QUARTER. Recommendation: Request Staff to submit resolution approved at the April 19, 2023, IPAC Meeting for City Council to approve at the earliest possible future meeting.

5.	DEVELOP A PLAN AND SET DATES FOR MEETINGS WITH CURRENT PVE BROKERS OF RECORD Recommendation: Discuss and recommend content, format and dates for meetings; suggest recommended dates.

6.	DEADLINE FOR APPLICATIONS FOR PVE COMMISSIONS & COMMITTEES, INCLUDING IPAC. Recommendation: Remind current IPAC members that May 15, 2024 (today) is the final day to submit applications if their term expires and they would like to continue to serve on the Committee.

7.

ANNUAL PVE INVESTMENT POLICY REVIEW. Recommendation: Review and discuss legally required and other proposed changes to the City’s current investment policy. Review and compare the PVE Investment Policies to selected policies from other Cities. Recommend revised version of the Investment Policy for FY 2024-25, and request that Staff submit a resolution for City Council to approve revised version at the next meeting.

8.

DIVESTITURE OF LONGER-TERM, VERY LOW-YIELD HOLDINGS. Recommendation: Review and make recommendation regarding sales of certain, older, very low-yield positions a loss to take advantage of the potential to capture higher rates going forward. Evaluate estimated cash impact as well as other implications. Depending on recommendation, develop proposal to take to City Council.

9.

REVISED PROCEDURES TO ENSURE INVESTMENT REPORTS ARE SUBMITTED ON A TIMELY BASIS. Recommendation: Develop and propose changes to current/past practices regarding submission of monthly and quarterly investment reports to Council. Recommend some changes to current/past practice in reporting on cash and investment to avoid missing deadlines. Request suggestions and assistance from staff and submit final recommendations for new procedures to the City Manager.

10.	FUTURE AGENDA ITEMS * Developing annual/quarterly cash flow forecasts. * Revising monthly/quarterly reports to model best practices * Compare PVE’s portfolio to those of "similar" cities.