CITY OF SAN CLEMENTE
INVESTMENT ADVISORY COMMITTEE
APPLICATION
1. Name Arthur P. Carter
2. How long have you lived in San Clemente?
32 years
3. What is your occupation?
Retired
4. Please explain why you would like to serve on the Investment Advisory Committee.
City of San Clemente
MAY 18 2023
City Clerk Department
I have had the privilege serve on the Investment Advisory Committee {IAC) since 2001 and wish to continue to do so. In the time I have served on the IAC I have witnessed a number of economic cycles and the impact they have had on our portfolio and the related changes in risk. My only agenda is to preserve our city portfolio, comply with our investment policy as established by our city counsel, and to make sure we meet the cash flow needs of our city. I am as well open to new opportunities and investment strategies as long as they are fiscally prudent and met our investment policy.
5. Please ex lain how our back round and ex erience would contribute to the Investment Advise Committee. n my 44 years in commercial banking I had the opportunity to work in the many disciplines that define ommercial banking which include commercial and tax exempt financing, cash management and the related reasury management tools as well as working closely with treasury departments addressing their cash anagement systems and to some degree investing opportunities. I maintained the Certified Cash Manager ertificate of the Association of Financial Professionals. While I did not serve as an investment advisor my ackground has allowed me to play an active role on the IAC with an understanding of the implications of our ecisions as they relate to risk, as well as be able to review the future cash flow needs of the city.
6. What is your educational background?
High School/Colleges Attended Major Field of Stud'./ Degree? Chico High School College Prep Yes
California State University Chico Political Science-Ee pn BA American Graduate School of International Management Finance & Marketi ng MBA
7. Please explain any experience that you have in community, governmental, charitable or educational affairs.
Prior to being on the IAC I served on the Golf Committee for 4 years. I worked in community scouting or 1 years in both Boy Scouts and Sea Scouts.
I currently serve on the Board of Governors for Sherman Library & Gardens as well as work as a volunteer n the garden.
8. Please describe your understanding of the principal roles and responsibilities of the Investment Advisory Committee.
The primary purpose of the Investment Policy, as approved by the city counsel, is to provide comprehens1v guidelines for the responsible management of city funds designated for investment. Therefore the primary purpose of the IAC is to insure the policy is being followed. The policy is structured such that the first priorit is the preservation of principal, the second to receive a fair market rate of return, and third to ensure funds ar available to meet the city needs. While the "Policy and Procedure" does not give the IAC the authority to se the investment guidelines, the IAC does provide opinions on investment opportunities. These opinions represe t the diverse and broad experience of the IAC members and their knowledge of the markets. While not a dire t responsibility of the IAC, the committee does discuss the future projected cash flow needs of the city and th investment maturities to ensure the city will have sufficient liquidity to meet the requirements.
9. Please use the space below to explain any other factors about yourself that you would like for the Council members to consider as they review your application.
t as een sue a p easure or me to serve my city on t e IA an am t ankfu t at t e City ounsel as ven me that opportunity. I believe that my years of experience on IAC as well as my banking background provide me with a solid platform to be a valued member of the IAC. I would like to continue to serve on the IAC with this amazing group of community leaders.
PLEASE ATTACH YOUR MOST RECENT RESUME TO THE APPLICATION, IF AVAILABLE.