Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Votes topic
No spam. Unsubscribe anytime.
San Clemente advisory committee approves fourth-quarter investment report
Summary
The Investment Advisory Committee voted unanimously to approve the fourth-quarter investment report, noting the consolidated portfolio is in compliance with the city's investment policy and California Government Code; no amendments to policy were made at the session.
The San Clemente Investment Advisory Committee voted on April 27 to approve its fourth-quarter investment report after a presentation from Chandler, the committee's external advisor.
The chair called for a motion to approve the report; a member moved, another seconded, and the chair stated the motion "carried unanimously." Committee materials presented by Chandler showed a consolidated market value of about $155,000,000 and sector distributions that left treasuries as the dominant holding.
Committee discussion preceding the vote covered duration, purchase and market yields, compliance with California Government Code, and the committee's plan to watch upcoming maturities before making allocation changes. No amendments to the current investment policy were adopted during the vote.
The committee directed staff and Chandler to model any proposed tactical shifts and to return with specifics and legal confirmations before holding a substantive vote on allocation changes.
The committee set its next regular meeting for Oct. 26 at 5:30 p.m.
