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Committee moves three financial policies to full board for final action
Summary
After reviewing public comments (few were received), the committee recommended one change to Policy DAA and no changes to DIG or GIG, and voted unanimously to send DAA, DIG and GIG to the full board for final action.
The Policy Management Committee voted Dec. 3 to forward three financial policies — DAA (physical responsibility and control), DIG (operating fund investments), and GIG (funding retirement and pension system) — to the full board for final action following a public-comment period that produced very few responses.
Leslie Turner Percival and guest Yvonne Alfonso Windsor told the committee staff consulted stakeholders during drafting, posted the drafts for comment and recommended only one change to DAA; no changes were recommended for DIG or GIG. "As a result we are recommending one change to policy DAA and no changes to DIG or GIG," Turner Percival said.
Board members asked for clarity about language moved from policy into implementing regulations, and staff confirmed that regulatory details are being placed in regulations where appropriate while summary policy language remains clear and compliant with state law. The committee moved all three policies to the full board for final action; anuva Malu moved the motion and Chair Julie Yang seconded. The chair announced the committee vote was unanimous.
No public commenters were recorded during the committee meeting on these items; staff will forward the materials and the recommended DAA change to the full board for final consideration.
