Board welcomes new member Jenny Ritchie and approves annual governance motions

The meeting opened with the acting chairman introducing new board member Jenny Ritchie, who was identified in the transcript as a native of Little Rock appointed by Senator Bart Hester to serve as the general securities representative for the State Board of Finance. The chairman reviewed Ritchie's experience, family details and local ties.

The board recognized outgoing member Keith Knetnick for his years of service, noting his knowledge of insurance and securities and that he will receive a state citation. The board adopted the minutes of the May 22, 2024 meeting by voice vote.

Acting chairman then presented a set of batched quarterly and annual motions for a single approval. The motions approved included that no funds are available for deposit into the State Board of Finance certificate of deposit program for the quarter, direction for the treasurer to purchase warrants for Oct. 1'Dec. 31, 2024 pursuant to Act 1088 of 2023 and to maintain reasonable demand deposits and money market balances for transactions, and approvals for record keeping/reporting requirements, the current collateralization policy, a code of ethics and criminal background checks, minimum employee qualifications for those handling treasury funds, eligibility requirements for bank and broker advisors, and approval of the Arkansas State Treasury Investment Policy and Money Management Trust Fund Policy (attachments referenced). The motions passed by voice vote.

The acting chairman announced the next quarterly meeting for Wednesday, Nov. 6 at 10:00 a.m. and the board adjourned.