HomeMy WebLinkAboutInvestment Committee Minutes 2019-04-29 INVESTMENT COMMITTEE MEETING MINUTES
April 29, 2019
The Investment Committee held a regular meeting on April 29, 2019 at 4:00 p.m. at City Hall in
Friendswood,Texas. The following members were present:
Allan Rasmussen
Larry Collison
Katina Hampton, Investment Officer
Rhonda Bloskas, Deputy Investment Officer
Bob Bozka was absent.
We had one visitor, Gerald Stacy. Mr.Stacy is a member of the City's Citizen Advisory Team and also a
member of a local church where he serves as Treasurer. His main interest was in learning what an
investment committee does.
1. Committee meeting minutes from January 22, 2019 were reviewed.
- Larry made a motion to approve the minutes as presented and Allan seconded the
motion. Motion passed unanimously.
2. The Committee reviewed and discussed the quarterly investment report for the period ending
March 31, 2019.
- Katina stated that seven securities had matured during the quarter and securities had
been purchased to replace these. She stated she is currently seeing interest rates
between 2.5-2.7%. Allan stated that right now it appeared the Fed wasn't going to raise
rates and that they were in a holding pattern.
- For the benefit of our visitor,the investment report was explained in more detail. Allan
noted securities were not purchased with greater than three year maturities. Katina
explained the Texas Class accounts and their purpose.
- Larry inquired as to future bond issuances. Katina explained that the City had formed a
Citizen Advisory Team and the purpose was to evaluate the needs of the community and
make recommendations for upcoming bond issuances. Mr.Stacy is a member of this
team.
- Larry made a motion to accept the Investment Report for the quarter ended 03/31/19.
Allan seconded the motion and it carried unanimously.
3. The committee discussed upcoming meeting dates. The next meeting will be on June 24, 2019.
Katina mentioned that the Investment Policy would be reviewed at that meeting. Mr.Stacy was
invited back for this meeting.
4. Katina informed the members that both she and the Deputy Investment Officer would be
obtaining eight hours of Public Funds Investment Act training that is required every two years.
5. The meeting was adjourned at 4:20 p.m.
Minutes approved by:
6/0-1.i/t)CUaM /
Katina Hampton
Investment Officer
Date Approved: October 21, 2019