CITY OF SAN CLEMENTE
Investment Advisory Committee Minutes
Regular Meeting – January 26, 2026
A Regular Meeting of the City of San Clemente Investment Advisory Committee was called to order by City Treasurer, Charlie Smith, on January 26, 2026 at 5:33 p.m. in the Community Conference Room at City Hall, 910 Calle Negocio, San Clemente, California.
PLEDGE OF ALLEGIANCE
The Pledge of Allegiance was led by Art Carter.
ROLL CALL
PRESENT: Investment Advisory Committee Members:
Charlie Smith, Victor Cabral, Jeff Willardson, Matthew Koelliker, Chad Ahearn Staff:
Sheryl Mariano, Sandee Chiswick, Melissa Anderson, Brian Brower ABSENT: None.
CHANDLER REPRESENTATIVE: Jayson Schmitt
PUBLIC: Art Carter
(1) MEMBER RECOGNITION
The committee recognized outgoing member Art Carter for his 24 years of service on the Investment Advisory Committee. Art also served on the Golf Committee prior to joining the Investment Advisory Committee. A plaque was presented in appreciation of his dedication and contributions. Art thanked the committee, and photos were taken. (2) APPROVAL OF MINUTES
Minutes from the October 27, 2025 and November 10, 2025 meetings were reviewed.
Motion to approve was made by Matthew Koelliker, seconded by Jeff Willardson.
Carried 5-0.
(3) QUARTERLY INVESTMENT REPORT
The Second Quarter Investment Report was introduced by City Treasurer Charlie Smith. Jayson Schmitt, representative from Chandler Asset Management reviewed the report with the committee and answered questions. Motion to approve was made by Jeff Willardson, seconded by Victor Cabral. Carried 5-0. (4) APPROVAL OF NEW BROKER-DEAL - ACADEMY SECURITIES
The committee discussed Academy Securities’ qualifications and due diligence materials. Staff confirmed required processes for adding broker-dealers. Motion to Investment Advisory Committee Minutes January 26, 2026 Page 2 approve the addition of Academy Securities to the approved broker list was made by Matthew Koelliker, seconded by Chad Ahearn. Carried 5-0. (5) DRAFT RFP - INVESTMENT MANAGEMENT & ADVISORY SERVICES (Chandler representative stepped out during discussion to avoid conflict-of-interest.) The committee reviewed the draft Request for Proposal for Investment Management Services. Revisions were discussed and agreed upon. Motion to approve with proposed edits was made by Jeff Willardson, seconded by Matthew Koelliker. Carried 5-0. (6) CITY TREASURER DISCUSSION
Charlie Smith opened a discussion on next steps for CSCERP, the City’s non-CalPERS retirement plan. Brian Brower explained that the Pension Investment Policy is outdated and still assigns oversight to a committee that no longer exists. He plans to bring an updated policy to the City Council in February to place responsibility with the Investment Advisory Committee.
(7) PUBLIC INPUT
None.
ADJOURNMENT
Motion was made by Matthew Koelliker, seconded by Chad Ahearn, carried 5-0 to adjourn to a Special Meeting to be held on March 9, 2026 at 5:30 pm in the Community Conference Room at City Hall, 910 Calle Negocio, San Clemente, California. _________________________________
Charlie Smith
Chair, Investment Advisory Committee