HomeMy WebLinkAbout02-10-2025 FIC Minutes - Signed
Monday, February 10, 2025 Finance and Investment Committee Minutes 1
SUMMARY MINUTES OF THE
FINANCE AND INVESTMENT COMMITTEE
REGULAR MEETING
Monday, February 10, 2025 – 11:30 a.m.
A regular meeting of the Finance and Investment Committee was held on Monday, February 10, 2025, at
City Hall in the City Manager’s Conference Room. The meeting was called to order at 11:31 a.m. by
Councilmember Michael McCorriston.
1. CALL TO ORDER
PRESENT: Vice Mayor Kashef Qaadri and Councilmember Michael McCorriston
ABSENT: None
2. PUBLIC COMMENT
None.
4. REPORTS
4.1 Investment Policy – Presentation on Socially Responsible Investing (SRI) /
Environmental, Social, and Governance (ESG) Investing
The Committee moved Item 4.1 ahead of Item 3 on the agenda.
The Committee received a presentation from Bill Dennehy, Co-Chief Investment Officer
with Chandler Asset Management Inc. (Chandler), on SRI, ESG, and Chandler’s options for
incorporating those options into the City’s policy and portfolio. The Committee requested
that City staff and Bill Dennehy research the Boycott, Divestment, and Sanctions
Movement (BDS) and how it compares to ESG.
3. ACTION ITEMS
3.3 Discussion of Future Meetings Schedule
The Committee moved Item 3.3 ahead of Item 3.1 on the agenda.
The Committee discussed a scheduling cadence of quarterly or semi-annually meetings
after an initial monthly meeting phase.
ACTION: The Committee requested that Jay Baksa, Finance Director, work with Bill
Dennehy to determine the next available meeting date in March.
3.1 Discussion of Bylaws and Mission
Finance Director Jay Baksa presented draft bylaws and a mission to serve as guiding
principles for the Committee.
ACTION: By consensus, the Committee approved the bylaws.
COMMITTEE MEMBERS
Kashef Qaadri, Vice Mayor
Michael McCorriston, Councilmember
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Monday, February 10, 2025 Finance and Investment Committee Minutes 2
3.2 Discussion of Topics for Future Meetings
The Committee discussed topics for future meetings.
ACTION: The Committee did not take an action on this item.
5. ADJOURNMENT
The meeting adjourned at 12:36 p.m.
Minutes prepared by Christopher Rhoades, Financial Analyst.
__________________________________
Vice Mayor
ATTEST: _______________________________
Finance Director
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