Minutes Investment Over.7 26 01CITY OF DUBUQUE, IOWA
MEMORANDUM
TO:
FROM:
RE:
Members of City of Dubuque Investment Oversight Advisory Commission
Kenneth J. TeKippe, Finance Director
Un-approved Minutes of the July 26, 2001 Meeting of the Investment
Oversight Advisory Commission
DATE: July 27, 2001
Commission members Paul Lassance, Stephen Reisdorf, and Gary Ruden were
present. Ken TeKippe, Finance Director, and Dawn Lang, Assistant Finance Director,
were also present.
The meeting was called to order at 3:43 p.m. in Conference Room A in City Hall by
Chairperson Paul Lassance. Finance Director, Ken TeKippe, certified that the
meeting was in compliance with the Iowa open meetings law.
2. Steve Reisdorf moved that the minutes of the April 19, 2001, meeting be approved
as written. The motion was seconded by Gary Ruden and approved unanimously.
Gary Ruden and Steve Reisdorf were recently re-appointed to the three-year terms
on the Investment Oversight Advisory Commission. Ken TeKippe indicated
commission listing would be updated and distributed with the minutes to commission
members.
The Commission briefly reviewed the June 2001 quarter-ended investment reports
prepared by Dawn Lang. Ken TeKippe indicated that the City has continued in
recent months to invest in Certificates of Deposit (primarily 6 month) when the U.S.
Treasuries and Certificates of Deposit mature due to higher returns. Ken TeKippe
distributed, investment return information through June 30, 2001 from the three
investment managers: Dubuque Bank & Trust, Firstar and Dana Investment
Advisors. In addition, a recap of manager/custodian fees based on June 30, 2001
market values was distributed. A brief discussion was held on the anticipated Vision
Iowa Grant funds that will be received by the City for the America's River Project.
5. There was no communication from the public, commission or staff to report
according to Ken TeKippe.
6. Ken TeKippe reminded commissioners that the Boards and Commissions picnic
would be held Monday evening, July 30 at Eagle Point Park.
7. Annual statements for the managed funds were received by the Finance Office. After
discussion it was decided that the commission members did not wish to receive
copies since they had previously received the 12 individual monthly statements.
8. The next meeting of the Commission was scheduled for Thursday, October 25,
2001, at 3:30 p.m. in City Hall. A representative from Dana Investment Advisors will
be invited to the meeting.
9. Steve Reisdorf moved that the meeting adjourn. The motion was seconded by Gary
Ruden and approved unanimously. The meeting adjourned at 4:08 p.m.