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Council names two to Investment Advisory Committee: Rick Veal and Eli Grady
Summary
The council appointed two residents, Rick Veal and Eli Grady, to the city’s Investment Advisory Committee after a brief interview process and a voice vote.
San Clemente’s City Council appointed Rick Veal and Eli Grady to the Investment Advisory Committee following interviews and a formal vote.
Councilmembers said the committee provides technical review of the city’s investment policy and oversight of third‑party investment managers. Candidates discussed municipal liquidity needs, the city’s conservative investment policy and the tradeoffs between liquidity and yield. The council asked candidates about experience reviewing large financial commitments and risk oversight.
Rick Veal (listed on the record as “Rick”) and Eli Grady were put forward by motion, seconded and approved by the council. City staff said the committee will advise on portfolio allocations and upcoming cash-flow planning; the new members are expected to attend an orientation with the city finance director.
Councilmembers asked staff to provide the Investment Advisory Committee with a calendar of upcoming cash-flow needs and the third‑party manager’s performance reports.
