1.

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 that Staff submit a resolution for City Council approval at the earliest possible future meeting to memorialize the new IPAC meeting schedule. Meetings for FY 2024-25 will be as follows: * August 14, 2024 * November 13, 2024 * February 12, 2025 * May 14, 2025

2.	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.

3.	REVIEW INVESTMENT REPORT 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.

INVESTMENT REPORT 

ATTACHMENT A EXHIBIT A 

ATTACHMENT B EXHIBIT B 

ATTACHMENT C EXHIBIT C 

ATTACHMENT D EXHIBIT D 

4.

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.

INVESTMENT POLICY 

ATTACHMENT A 

5.

DIVESTITURE OF 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.

Staff Report 

6.

REVISED PROCEDURES TO ENSURE INVESTMENT REPORTS ARE SUBMITTED ON A TIMELY BASIS. Recommendation: Discuss, 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.

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