BOARD MEETING DATE: March 13, 1998 AGENDA NO. 35
REPORT:
Investment Oversight Committee
SYNOPSIS:
The Investment Oversight Committee met Friday, February 6, 1998 and discussed various issues detailed in the Committee report. The next Investment Oversight Committee meeting is Friday, May 1, 1998 at 12:00 noon in Conference Room CC8.
RECOMMENDED ACTION:
Receive and File this report.
Norma J. Glover, Chairman
Investment Oversight Committee
Attendance: Present were Committee members Michael Antonovich and Norma Glover. Pursuant to the Procedures for Standing Committees of the Governing Board, adopted March 8, 1996, Chairman Glover appointed Supervisor Jon Mikels as an ad hoc Member of the Investment Oversight Committee for the February 6, 1998 meeting only. Absent were Dr. William Burke, Committee Members Gary Burton and Mary Simpson.
Investment Committee Discussion Items:
Quarterly Report of Investments: Review of quarterly investment report to Governing Board. The Committee approved this report as a receive and file.
Approve AQMD Annual Investment Policy and Delegation of Authority to Los Angeles County Treasurer to Invest AQMD Funds: The Committee reviewed this item and discussed the reasoning behind the proposed changes to the AQMD Investment Policy which for the most part are being made to reflect changes in state law. In addition, the Committee discussed the renewal of its delegation of authority to its treasurer to invest or reinvest AQMD funds. The AQMD Annual Investment Policy and the reauthorization of the Los Angeles County Treasurer to invest and reinvest AQMD funds were recommended by the Committee for approval at the March 13, 1998 meeting of the Board.
Other Business: None
Public Comment: None
/ / /