HomeMy WebLinkAbout2024-10-24; Investment Review Committee; ; Vice Chair selectionMeeting Date: Oct. 24, 2024
To: Investment Review Committee
From: Zach Korach, Finance Director / Deputy City Treasurer
Staff Contact: Katie Schroeder, Senior Accountant
katie.schroeder@carlsbadca.gov, 442-339-5246
Subject: Vice Chair selection
District: All
Recommended Action
Accept nominations from the floor and a adopt resolution appointing a Vice Chair for the
Investment Review Committee for a term ending October 2025.
Executive Summary
Section 10.0 of the Investment Policy designates the City Treasurer as Chair of the Investment
Review Committee. The Chair presides over all the committee meetings. The Vice Chair serves
in the place and stead of the Chair in the Chair’s absence.
Discussion & Fiscal Analysis
This action has no fiscal impact.
Environmental Evaluation
This action does not require environmental review because it does not constitute a project
within the meaning of the California Environmental Quality Act under California Public
Resources Code Section 21065 in that it has no potential to cause either a direct physical
change or a reasonably foreseeable indirect physical change in the environment.
Exhibits
1.Investment Review Committee resolution appointing a Vice Chair
INVESTMENT REVIEW COMMITTEE
Oct. 24, 2024 Item #1 Page 1 of 2
Staff Report
RESOLUTION NO. 2024-001
A RESOLUTION OF THE INVESTMENT REVIEW COMMITTEE OF THE CITY OF
CARLSBAD, CALIFORNIA, APPOINTING A VICE CHAIR TO PRESIDE AT
INVESTMENT COMMITTEE MEETINGS IN THE CHAIR'S ABSENCE
WHEREAS, the Investment Review Committee (IRC) of the City of Carlsbad, California, was
established per the City of Carlsbad Investment Policy adopted by the City Council on March 12, 2024;
and
WHEREAS, Carlsbad Municipal Code Section 2.15.080 requires the IRC to appoint one
of its members as Vice Chair to preside at committee meetings in the Chair's absence.
NOW, THEREFORE, BE IT RESOLVED by the Investment Review Committee of the City of
Carlsbad, California, as follows:
1. That the above recitations are true and correct.
2. That the following Member is appointed to serve as Vice Chair of the IRC for a term
ending October 2025:
LAURA ROCHA
PASSED, APPROVED AND ADOPTED at a Special Meeting of the Investment Review Committee
of the City of Carlsbad on the 24th day of October, 2024 by the following vote, to wit:
AYES: KORACH, HABER, TRUE
NAYS: NONE.
ABSTAIN: NONE.
ABSENT: ROCHA
ZACH KORACH, Chair
~OEDER, Senior Accountant