HomeMy WebLinkAbout1996-04-02 Packet CITY OF UKIAH
CITY COUNCIL AGENDA
Regular Adjourned Meeting
COUNCIL WORKSHOP REGARDING INVESTMENT STRATEGY
CIVIC CENTER COUNCIL CHAMBERS
300 Seminary Avenue
Ukiah, CA 95482
April 2, 1996
9:00 a.m.
.
.
Roll Call
AUDIENCE COMMENTS ON NON-AGENDA ITEMS
The City Council welcomes input from the audience. If there is an item of business on the
agenda that you are interested in, you may address the Council when this matter is considered.
If you wish to speak on a matter that is not on this agenda, you may do so at this time. In order
for everyone to be heard, please limit your comments to three (3) minutes per person and not
more than ten (10) minutes per subject. The Brown Act regulations do not allow action to be
taken on audience comments in which the subject is not listed on the agenda.
3. NEW BUSINESS
a. Council Workshop Regarding Investment Strategy
ADJOURNMENT
To 5:30 p.m. on April 3, 1996, for Electric Utility Workshop in Council Chambers of Ukiah
Civic Center, 300 Seminary Avenue, Ukiah, CA.
The City of Ukiah complies with ADA requirements and will attempt to reasonably accommodate
individuals with disabilities upon request.
Introdt~ctory Biography
Nancy Jones is a Managing Director in PFM's San Francisco Office, where she is responsible for
the firm's investment advisory services in the Western United States. PFM is one of the nation's
leading financial and investment advisory firms. PFM is unique among investment advisors
because the firm provides investment advice exclusively to public agencies. This is the firm's
specialty and has been so since the firm was fonned in 1980.
N ~mcy has worked extensively with clients to---
Establishinvestmcnt objectives
· Determine the types of securities that should be permitted
Establish credit criteria for each type of investment
Develop a list of approved brokers and dealers, and
Determine an appropriate investment strategy.
She has also helped agencies set up internal control systems to minimize the chance of the agency
losing money due to employee error or fraud.
Nancy works closely with each of the firm's clients coordinating their cash and investment needs
with the portfolio managers and discussing transactions and overall performance with clients
qu::rterly.
Nancy has over fifteen years experience working with public agencies. Prior to joining P¢'M she
worked as Vice President in the Trading and Investment Group of Wells Fargo Bank selling t~ed
income securities to public agencies in the western states.
Nancy is a Phi Beta Kappa araduate of the University of California at Berkeley.
P LIC FINANCIALMANAG , INC.
Financial and Investment Advisors
505 Montgomery Street, Suite 800
San Frandsco, California 94111
415-982-5544 (Fax) 415-982-4513
April 3, 1996
Ms. Candace Horsley
Interim City Manager
City of Ukiah
300 Seminary Avenue
Ukiah, CA 95842
Dear Candace:
I really enjoyed yesterday. The level of interest shown by the City Council was so
refreshing. How fortunate the City is to have council members who are willing to take the
time to learn more about such an important topic.
Enclosed are copies of the slides which I think will be most useful to you, members
of the council, Gordon and Pat.
I have also included a sample Request for Proposal for investment advisory
services.
If I can be of further assistance, please do not hesitate to call.
NBJ/pjr
Cordially,
Nancy B. Jones~
Managing Director
Enclosures
Atlanta Austin Boston Dallas Fort Myers Harrisburg Memphis Minneapolis Newport Beach Orlando Philadelphia Pittsburgh San Frandsco
-t
?n
ITEM NO. 3a
DATE: April 2, 1996
AGENDA SUMMARY REPORT
SUBJECT: COUNCIL WORKSHOP REGARDING FINANCIAL INVESTMENTS
The City Council had requested a workshop to gain further information on investment strategies and
policies.
The presenter at the workshop is Nancy Jones, Managing Director of Public Financial Management,
Inc. She has had over 15 years experience working with public agency investments. Her
presentation will be informative and allow for questions and answers throughout the hour-long
session.
RECOMMENDED ACTION: Council hold workshop on investment policies.
ALTERNATIVE COUNCIL POLICY OPTIONS:
1. Council provide further direction to staff, and/or continue workshop to another date.
Acct. No. (if NOT budgeted): N/A
Appropriation Requested: N/A
Citizen Advised: N/A
Requested by:
Prepared by:
Coordinated with:
Attachments: 1.
Acct. No.:
(if budgeted)
Candace Horsley, City Manager
Introductory Biography for Nancy Jones
APPROVED:
4/CM:ASRWshop
Can~'~e H~)rs'ley,- Cit~M~anager
.~it
0
I~
c.~
.,i¢
c~
0
0
· ~-..,t
0
~.~
F.~
.,i¢
F.~
c~
0
~,~
.~i.¢
0
.~i¢
F.~
c~
(~1
II
II
II
(~1
~.
0
~~o o
~e
.<
Z
.<
Z
Z
r.r.l
CZ)
0
0