BOARD MEETING DATE: September 10, 1999 AGENDA NO. 31
REPORT:
Investment Oversight Committee
SYNOPSIS:
The Investment Oversight Committee met Friday, August 6, 1999 and discussed various issues detailed in the Committee report. The next Investment Oversight Committee meeting is Friday, October 29, 1999 at 12:00 noon in Conference Room CC8.
RECOMMENDED ACTION:
Receive and file.
Gary Burton
Investment Oversight Committee
Attendance:
Present were Committee members Gary Burton, David Ertel and Jerry Rogers. Absent were Committee members Michael Antonovich, William Burke and Norma Glover.
Investment Committee Action Items:
Quarterly Report of Investments: Reviewed the quarterly investment report to the Governing Board. The Committee approved this report.
Contract Renewal with Sperry Capital: As provided for in the contract, the Committee approved renewing the contract with Sperry Capital for investment consultant services for two additional years at a cost not to exceed $13,000 annually.
Investment Committee Discussion Items:
Status Report on Y2K Readiness of Financial Institutions used by AQMD: Rick Pearce, Chief Financial Officer, reported on the actions taken to date by the AQMD to bring its internal systems into compliance with year 2000 readiness and the efforts and responses received from other agencies and institutions which the AQMD relies upon.
Los Angeles County Treasurer and Tax Collector Investment Policy and Issuers Report: Terry McGuire, AQMD’s Investment Consultant, summarized Los Angeles County’s investment program. The Committee commented positively on the extensiveness and thoroughness of the county’s investment program.
Other Business: None
Public Comment: None
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