The mission of the Investment Advisory Board is to act in an advisory capacity to the City Council and City Treasurer in matters pertaining to all the City's investments.

Background

The Investment Advisory Board (IAB) was established in 1995 and meets on a quarterly basis. Its duty is to prepare an Annual Report to the City Council by January 20. In preparing this report, the Board shall review the Investment Policy, Annual Financial Audits, and any other investment information determined by the Board to be applicable to the Annual Report. The Board will review and make recommendations in its Annual Report, on the following items: Investment Policies, Annual Investment Audit, Cash Management, Proposed State and Federal Legislation, Compliance with Investment Policies, Anticipate Exposure to Loss, and other areas as outlined in Municipal Code 2.110.030, including performing other duties or studies as directed by the City Council. The IAB consists of seven (7) members. Each City Council Member shall appoint one member of the Board to serve the same term as the City Council Member.

The IAB members act only in an advisory capacity and are not vested with final authority in the establishment of priorities, the expenditure of funds or the establishment of the investment policy. In addition, the IAB shall not interfere with the duties of any elected or appointed officer specified in the City Charter. The IAB has the power to appoint subcommittees of not more than three (3) of its own members to perform tasks within the scope of duties.

Agendas

July 30, 2008
April 30, 2008
January 23, 2008
October 24, 2007
October 25, 2006

Minutes

April 30, 2008
January 23, 2008
October 24, 2007
July 18, 2007
October 25, 2006
July 19, 2006
April 19, 2006
January 25, 2006

Meeting Time and Dates

The IAB meets quarterly, generally the 4th Wednesday of the month at 6:00 p.m. in the Council Caucus Room of City Hall. Meeting months are January, April, July and October. In addition, the IAB has one annual joint study session meeting with City Council. This meeting is generally held in November. All meetings are open to the public and special meetings may be called in conformance with the Ralph M. Brown Act. The meeting agenda is posted outside of City Hall at least 3 days prior to the meeting.

Vacancies
In the event a member retires or is unable to compete his term, an appointment shall be made to fill the remainder of the unexpired term. To apply to become a member, please fill out the Boards & Commission Application.

Commission Members

Christopher Palmer (Chair) - Appointed by Cathy Green, term expires 12/2010

Joe Foye - Appointed by Debbie Cook, term expires 12/2008

Bob Glass - Appointed by Don Hansen, term expires 12/2008

Brian Olson - Appointed by Keith Bohr, term expires 12/2008

Angela Rainsberger, Appointed by Joe Carchio, term expires 12/2010

Diann Shelton - Appointed by Gil Coerper, term expires 12/2010

James Steinkirchner - Appointed by Jill Hardy 12/2010, term expires 12/2010

Staff Contact

Shari Freidenrich, City Treasurer

(714) 536-5200