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HomeMy WebLinkAbout2019 02 14 Consent 300 Unapproved Minutes from the November 8, 2018 Regular MeetingBOARD OF TRUSTEES AGENDA ITEM ITEM 300 February 14, 2019 Regular Meeting REQUEST: Informational Consent X Public Hearings Regular The Office Of The City Clerk Is Requesting The Board Of Trustees Consider And Approve The Thursday, November 8, 2019 Board Of Trustees Regular Meeting Minutes. ATTACHMENT(S): A. Unapproved Copy Of The Thursday, November 8, 2019 Board Of Trustees Regular Meeting Minutes (3 Pages) CITY OF WINTER SPRINGS, FLORIDA dk MINUTES BOARD OF TRUSTEES REGULAR MEETING NOVEMBER 8, 2018 CALL TO ORDER s1;1;21 MIMI It -111—Z U111.111. ? The Regular Meeting of Thursday, November 8, 2018 of the Board of Trustees was called to Order by Chairperson David Withee at 5-35 p.m. in the Commission Chambers of the Municipal Building (City Hall, 1126 East State Road 434, Winter Springs, Florida 32708). Roll Call: Chairperson David Withee, present Vice -Chairperson Robin Paris, present Board Member Michael Blake, present Board Member Stephen Krohn, present Board Member Barbara Watkins, present Assistant to the City Clerk Antonia DeJesus, present A moment of silence was held followed by the Pledge of Allegiance. 1126TAMM AWARDS AND PRESENTATIONS 100. Not Used mffljml� Chairperson Wither opened "Public Input". CITY OF WINTER SPRINGS, FLORIDA MINUTES BOARD OF TRUSTEES REGULAR MEETING - NOVEMBER 8,2018 PAGE 2 OF 3 CONSE.11T 300. Office Of The City Clerk The Office Of The City Clerk Is Requesting The Board Of Trustees Consider And Approve The Thursday, August 9, 2018 Board Of Trustees Regular Meeting Minutes. A 101010:1951911 VOTE: VICE -CHAIRPERSON PARIS: AYE BOARD MEMBER KROHN. AYE BOARD MEMBER BLAKE: AYE CHAIRPERSON WITHEE: AYE BOARD MEMBEIRI WATKINS: AYE MOTION CARVIED. 1"MR REGULAR 500. Finance And Administration Services Departmel The Finance And Administrative Services Department Is Requesting The Board Of Trustees Receive From AndCo Consulting The Fourth Quarter Investment Return Report And To Enter Into Discussion. Mr. Dave West, Senior Consultant, AndCo Consulting, 4901 Vineland Road, State 60 Orlando, Florida.- introduced the Agenda Item and referenced Page 2 of the Quarter Investment Report. Continuing, Mr. West discussed the investment environment over t I last quarter and commented on domestic and international equity returns as well as doll strengths and geopolitical risks. Moving on, Mr. West remarked on rising interest rates and commented on asset allocati referencing Page 12. Mr. West then turned to Page 18 and reviewed year-to-date numbe I as well as three (3) and five (5) year projections with additional comments and note "Excellent year; I'm very happy with what transpired." Mr. West continued to comme on equity distributions, peer gr p rankings, and investment mana ers. on 9 CITY OF WINTER SPRINGS, FLORIDA MINUTES BOARD OF TRUSTEES 018 REGULAR MEETING — NOVEMBER 8, 2 - PAIGE 3 OF 3 &Mft�'4040 Much discussion followed on levered funds, cash flow, investment management fees, and �,` I wvw fiscal year end details with additional comments on US Treasury inflation -protected NEW'= securities (TIPS). Further discussion ensued on various funds and indexes, 60 With additional remarks regarding intermediate investment strategies, Mr. West noted, "Again I'm not suggesting the cycle is ending tomorrow, it may go on for three (3) or five (5) years but we're nine and a half (9 '/2) years into this cycle and — I think sooner than later interest rates are materially higher than they were before, and at some juncture, not too far in the future, we should get our investment grade bond allocation back to target and make sure our equity allocation at target and not too overweight." Discussion continued on investment strategies related to market behavior, advantages d to strategic investments in the City's portfolio relative to other agencies portfolios, risil interest rates, asset allocation, cas�a flow, and unfunded liabilities. Brief comments, PUBLIC INPUT Chairperson Withec opened "public Input" Chairperson TVithee closed "public Input ", Chairperson Withee adjourned the Regular Meeting 6:48 p.m. RESPECIFULL YSUBM/77ED: ANTONIA DEJESUS ASSISTANT TO THE CITY CLERK NOTE: These Minutes were Approved at the , 2419 Board of'Trustees Regular Meeting.