CITY OF SAN CLEMENTE
Investment Advisory Committee Minutes
Special Meeting – August 5, 2024
A Special Meeting of the City of San Clemente Investment Advisory Committee was called to order by City Treasurer, Charlie Smith, on August 5, 2024 at 5:30 p.m. This meeting was conducted in the Community Conference Room at City Hall, 910 Calle Negocio, San Clemente. (1) PLEDGE OF ALLEGIANCE
The Pledge of Allegiance was led by Charlie Smith.
(2) ROLL CALL
PRESENT: Investment Advisory Committee Members:
Charlie Smith, Victor Cabral, Art Carter, Jeff Willardson, Matthew Koelliker
Staff:
Andy Hall, Brian Brower, Jake Rahn, Melissa Anderson
ABSENT: None
CHANDLER
REPRESENTATIVE: Jayson Schmitt
PUBLIC: Jake Ison
(3) APPROVAL OF MINUTES
Minutes from the April 29, 2024 meeting were approved. Motion was made to approve by Art Carter, seconded by Victor Cabral. Approved 5-0. (4) APPROVE 4
th QUARTER FY 2023-24 INVESTMENT REPORT
The fourth quarter investment report was introduced by City Treasurer, Charlie Smith. Jayson Schmitt, Chandler Asset Management representative, and Charlie Smith reviewed the fourth quarter investment report with the committee and answered questions raised by committee members. Art Carter moved to approve the 4
th Quarter Investment Report, seconded by Jeff Willardson. Approved 5-0. (5) DISCUSS SECTION 115 TRUST ACCOUNT
The committee decided to meet with PARS at the next meeting to discuss investment strategies for the Section 115 Trust.
Investment Advisory Committee Minutes August, 5, 2024 Page 2 (6) DISCUSS PORTFOLIO ALLOCATION, CURRENT ECONOMIC
ENVIRONMENT AND OTHER RELATED TOPICS
Andy Hall discussed not spending money we don’t have. The residents will decide if they want to increase sales tax to fund sand on the beach. The city lost two large revenue sources. Rather than touch investments or fund balances, the city has cancelled projects or used other project resources to fund priority capital projects. (7) PUBLIC INPUT
Jake Ison of Matthews Real Estate Investment Services introduced himself. (8) ADJOURNMENT
The committee agreed to change the date of the next meeting from October 28th to November 4th. Motion was made by Art Carter, seconded by Jeff Willardson, carried 5-0 to adjourn to the next meeting on November 4, 2024. _________________________________
Charlie Smith
Chair-Investment Advisory Committee
Future Meeting Dates:
November 4, 2024
January 27, 2025
April 28, 2025
July 28, 2025