Financial Advisory Commission

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The Investment Advisory Board (IAB) was established in 1993. Due to additional oversight and responsibilities added in 2017, the IAB was restructured into the Financial Advisory Commission (FAC), and its membership was increased from five to seven members appointed by the City Council. The FAC is coordinated by the Finance Department (760) 777-7000.

Meetings

The FAC meets quarterly on the second Wednesday of February, May, August, and November, at 3:30 p.m. Special meetings may be scheduled on an "as needed" basis. The day and place of the FAC meetings for upcoming fiscal years is established at the last regularly scheduled meeting of each fiscal year.

Functions

The principal functions of the FAC are:

Review at least annually the city's investment policy and recommend appropriate changes;
Review monthly treasury reports and note compliance with the investment policy and adequacy of cash and investments for anticipated obligations;
Receive and consider other reports provided by the city treasurer;
Meet with the independent auditor after completion of the annual audit of the city's financial statements, and receive and consider the auditor's comments on auditing procedures, internal controls, and findings for cash and investment activities;
Review annually the revenue derived from the one percent (1%) transactions and use tax instituted by voters in November 2016 to ensure these funds are used to provide services, programs and capital projects in the City of La Quinta; and
Serve as a resource for the city treasurer on matters such as proposed investments, internal controls, use of change of financial institutions, custodians, brokers and dealers.

Contact

For more information about the FAC contact us at finance@laquintaca.gov or (760) 777-7000.

Apply

Applications are accepted all year long and kept on file in the Clerk's office until a vacancy needs to be filled.

Application to Serve on the FAC

Members

Current List of Commission Members

Agendas, Staff Reports and Minutes

The minutes for the FAC meetings will not be available until they have been approved at the next regular meeting.

The regular quarterly meeting agendas are typically available not less than 72 hours prior to each meeting and may be downloaded by clicking on one of the Event links below. The City reserves the right to make changes to the order of items listed on the agenda.

For copies of staff reports, as well as any accompanying attachments, you may contact the Finance Department at (760)777-7000 or finance@laquintaca.gov.

Agendas for current meetings are located at the event link below and on the City Calendar.

Meeting Calendar

Investment Advisory Board Meeting

Date: 08/10/2016 4:00 PM - 5:30 PM 08/10/2016 4:00 PM 08/10/2016 5:30 PM

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CLICK HERE TO VIEW THE AGENDA IN .PDF FORMAT

CLICK HERE FOR THE COMPLETE AGENDA PACKET IN .PDF FORMAT

INVESTMENT ADVISORY BOARD
AGENDA

CITY HALL STUDY SESSION ROOM
78-495 Calle Tampico, La Quinta

REGULAR MEETING ON WEDNESDAY, AUGUST 10, 2016 AT 4:00 P.M.

CALL TO ORDER

1. Pledge of Allegiance
2. Roll Call

APPOINTMENT OF OFFICERS

1. Appointment of Investment Advisory Board Chairperson
2. Appointment of Investment Advisory Board Vice-Chairperson

PUBLIC COMMENT

At this time members of the public may address the Board on any matter not listed on the agenda. Please complete a “Request to Speak” form and limit your comments to three minutes.

CONFIRMATION OF AGENDA

APPROVAL OF MINUTES

1. Approval of the Minutes of May 11, 2016

CONSENT CALENDAR

1. Receive and File the Fourth Quarter Fiscal Year 2015/2016 Treasury and Pooled Money Reports for April and May 2016

BUSINESS SESSION

1. Overview of Fiscal Year 2016/2017 Investment Policy and Work Plan Items

CORRESPONDENCE AND WRITTEN MATERIALS – None

BOARD MEMBER ITEMS

DIRECTORS ITEMS

1. Update on the Fiscal Year 2016/2017 Budget
2. Update on consideration to expand the Investment Advisory Board Duties

ADJOURNMENT

The next regular meeting of the Investment Advisory Board will be held on November 9, 2016 commencing at 4:00 p.m. at the La Quinta Caucus Room, 78-495 Calle Tampico, La Quinta, CA 92253.

DECLARATION OF POSTING

I, Monika Radeva, Deputy City Clerk, of the City of La Quinta, do hereby declare that the foregoing Agenda for the La Quinta Investment Advisory Board meeting was posted on the City’s website, near the entrance to the Council Chamber at 78-495 Calle Tampico, and the bulletin boards at 78-630 Highway 111, and the La Quinta Cove Post Office at 51-321 Avenida Bermudas, on August 5, 2016.

DATED: August 5, 2016

MONIKA RADEVA, Deputy City Clerk
City of La Quinta, California

Public Notices

The La Quinta Study Session Room is handicapped accessible. If special equipment is needed for the hearing impaired, please call the City Clerk’s office at 777-7123, twenty-four (24) hours in advance of the meeting and accommodations will be made.

If special electronic equipment is needed to make presentations to the City Council, arrangements should be made in advance by contacting the City Clerk’s office at 777-7123. A one (1) week notice is required.

If background material is to be presented to the Investment Advisory Board during an Investment Advisory Board meeting, please be advised that five (5) copies of all documents, exhibits, etc., must be supplied to the Deputy City Clerk for distribution. It is requested that this take place prior to the beginning of the meeting.

Any writings or documents provided to a majority of the Investment Advisory Board regarding any item(s) on this agenda will be made available for public inspection at the City Clerk’s counter at City Hall located at 78-495 Calle Tampico, La Quinta, California, 92253, during normal business hours.

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