HomeMy WebLinkAbout2025-10-16; Investment Review Board; Minutes; Special SessionINVESTMENT REVIEW BOARD
Special Meeting
Minutes
Oct. 16, 2025, 2 p.m.
CALL TO ORDER: 2 p.m.
ROLL CALL: Ganelin, Rubinstein, Veiga, Peacox
Council Chamber
1200 Carlsbad Village Drive
Carlsbad, CA 92008
PLEDGE OF ALLEGIANCE: Board Chair Peacox lead the Pledge of Allegiance.
APPROVAL OF MINUTES: None.
PRESENTATIONS:
Board Member and staff introductions.
Board Member Ganelin introduced himself and provided brief background.
Board Member Rubinstein introduced himself and provided brief background.
Board Member Veiga introduced himself and provided brief background.
Katie Schroeder introduced herself as the staff liaison for the Investment Review Board.
PUBLIC COMMENT: None.
CONSENT CALENDAR: None.
PUBLIC HEARINGS: None.
DEPARTMENTAL REPORTS:
1. VICE CHAIR SELECTION: Accept nominations from the floor and adopt a resolution
appointing a Vice Chair for the Investment Review Board for a one-year term ending
October 2026. (Staff contact: Katie Schroeder, Treasury Department)
Recommended Action: Adopt a resolution appointing a Vice Chair.
Board Member Rubinstein recommended nominating a two-year member.
Motion by Board Member Rubinstein nominating Board Member Ganelin to serve as Vice
Chair of the Investment Review Board adopting resolution 2025-001, seconded by Board
Member Veiga. Motion carried 4/0/1 (Frieda absent).
2. RALPH M. BROWN ACT AND PUBLIC RECORDS ACT PRESENTATION: Receive a
presentation regarding the Ralph M. Brown Act and Public Records Act. (Staff contact:
Cindie McMahon, City Attorney Department and Faviola Medina, Constituent and Clerk
Services Department Director)
Recommended Action: Receive the presentation
City Attorney Cindie McMahon presented a PowerPoint presentation summarizing Public
Ethics Laws: Public Records Act and Brown Act; anti-corruption laws: Political Reform Act,
Common Law Conflict of Interest and Anti-Self -Dealing Law as well as resources for
additional information.
Director of Constituent & Clerk Services Faviola Medina continued the PowerPoint
presentation of the components of a successful meeting including parts of an agenda,
discussions/motions/votes, requesting items on a future agenda, and minutes, as well as
resources relevant to the Board.
Board Member Rubinstein inquired how to determine conflict of interest and was
instructed by City Attorney McMahon to request advice when unsure.
Board Member Veiga inquired how to share information to the Board and was instructed
by Constituent and Clerk Services Department Director Faviola Medina and City Attorney
Cindie McMahon how to proceed.
3. OVERVIEW OF THE CITY OF CARLSBAD TREASURY DEPARTMENT: Receive an overview of
the City of Carlsbad Treasury Department including the Investment Review Board duties
and provide feedback to staff regarding future Board presentation topics. (Staff contact:
Katie Schroeder, Treasury Department)
Recommended Action: Receive the presentation
City Treasurer/Board Chair Peacox presented a PowerPoint presentation on the overview
of the Treasury Department.
4. ANNUAL REPORT SUMMARY: Receive summary of the city's annual investment report for
fiscal year 2024-25. (Staff contact: Katie Schroeder, Treasury Department)
Recommended Action: Receive the presentation
City Treasurer/Board Chair Peacox presented a PowerPoint presentation summarizing the
data and trends from the Fiscal Year 2024-25 Annual Report of Investments.
Board Member Rubinstein complimented the presentation and analysis of the Annual
Report of Investments.
5. APPROVAL OF THE INVESTMENT REVIEW BOARD REGULAR MEETING SCHEDULE: Review
and adopt a resolution approving the Investment Review Board Regular Meeting
Schedule as proposed by staff. (Staff contact: Katie Schroeder, Treasury Department)
Recommended Action: Adopt the resolutions for calendar years 2025 and 2026.
Motion by Board Chair Peacox to approve the calendar years 2025 and 2026 resolutions
adopting resolutions 2025-002 for calendar year 2025 and 2025-003 for calendar year
2026, seconded by Board Member Veiga. Motion carried 5/0.
Board Member Commentary and Request for Consideration of Matters
Motion by Board Member Veiga to bring forward request for feedback of the Investment
Policy as described by Board Chair Peacox, seconded by Board Member Frieda. Motion
carried 5/0.
Staff Comments: None.
Adjournment: 3:01 p.m.
Katie Schroeder
Senior Accountant