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Monday, June 2, 2025 Finance and Investment Committee Minutes 1
MINUTES OF THE
FINANCE AND INVESTMENT COMMITTEE
SPECIAL MEETING
Monday, June 2, 2025 – 12:00 p.m.
A special meeting of the Finance and Investment Committee was held on Monday, June 2, 2025, at
Civic Center, in the Bray Community Room. The meeting was called to order at 12:00 p.m. by
Councilmember Michael McCorriston.
1. CALL TO ORDER
PRESENT: Vice Mayor Kashef Qaadri and Councilmember Michael McCorriston
ABSENT: None
2. ACTION ITEMS
2.1 Approval of the May 6, 2025 Regular Finance and Investment Committee Meeting
Minutes
ACTION: By consensus, the Committee approved the minutes of the Regular Meeting of
May 6, 2025.
2.2 Proposed Updates to the City’s Investment Policy
The Committee received a presentation from Finance Director Jay Baksa on proposed
updates to the City’s Investment Policy, including recommendations on how to integrate
Socially Responsible Investing (SRI) criteria; incorporate Environmental, Social, and
Governance (ESG) principles; and considerations related to the Boycott, Divestment, and
Sanctions (BDS) movement.
There were four public speakers who spoke on this item.
The Committee’s discussion focused on the need to determine how useful ESG ratings
and reporting would be, consideration of the additional cost, and updating the policy with
language that reflects Dublin’s values to further guide the investment portfolio.
ACTION: By consensus, the Committee provided the following direction:
1) Request a sample ESG report from the City’s investment management consultant,
Chandler Asset Management.
2) Update the City’s Investment Policy to align with the City’s Mission, Vision, and Values
by adding three new topics to the list of prohibited investments:
COMMITTEE MEMBERS
Kashef Qaadri, Vice Mayor
Michael McCorriston, Councilmember
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Monday, June 2, 2025 Finance and Investment Committee Minutes 2
a. Companies that develop or manufacture commodities that facilitate violence
or war.
b. Companies engaged in border or mass surveillance industries.
c. Companies involved in mass incarceration or detention industries.
3) Relocate the prohibited investment of tobacco and tobacco related companies into
the dedicated section for prohibited investments within the Investment Policy.
4) Return to the Finance and Investment Committee with the sample ESG report and the
updated Investment Policy for review.
3. ADJOURNMENT
The meeting adjourned at 12:59 p.m.
Minutes prepared by Christopher Rhoades, Financial Analyst.
____________________________________
Councilmember Michael McCorriston
ATTEST: ____________________________________
Finance Director
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