HomeMy WebLinkAboutInvestment Committee Minutes 2019-07-29 INVESTMENT COMMITTEE MEETING MINUTES
July 29, 2019
The Investment Committee held a regular meeting on July 29, 2019 at 4:00 p.m. at City Hall in
Friendswood,Texas. The following members were present:
Bob Bozka
Larry Collison
Katina Hampton, Investment Officer
Rhonda Bloskas, Deputy Investment Officer
Allan Rasmussen was absent.
1. Committee meeting minutes from April 29, 2019 were reviewed.
- Mr. Bozka suggested waiting until the next meeting in October to approve the minutes as
he was not present at the April meeting and only Mr. Collison was present to vote.
2. The Committee reviewed and discussed the quarterly investment report for the period ending
June 30, 2019.
- Katina stated that several securities had matured during the quarter and some of the
funds had been reinvested but we were in a period where less tax revenue is received.
- A discussion took place regarding interest rates. The City is currently receiving over 2%
interest on securities that were purchased during this quarter.
- Katina discussed making the shift from Texas Class to Texas Class Government. Mr.
Bozka suggested moving all Texas Class funds to Texas Class Government.
- Mr. Collison made a motion to accept the Investment Report for the quarter ended
06/30/19. Mr. Bozka seconded the motion and it carried unanimously.
3. The Committee performed the annual review of the City's Investment Policy.
- Katina noted there were only a few minor changes to the Public Funds Investment Act
that came out of the 2019 Texas Legislative session.
- Katina stated that the updated policy would be approved by City Council in September.
4. The committee discussed upcoming meeting dates. The next meeting will be on October 21,
2019.
5. The meeting was adjourned at 5:02 p.m.
Minutes approved by:
Katina Hampton
Investment Officer
Date Approved: October 21, 2019