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4 4.:AoI4'Rj. . <br /> '',,,14.°.'"13 a.. <br /> Board of Finance <br /> City of South Bend, Indiana <br /> 2013 Board of Finance Meeting Minutes <br /> The Board of Finance President, Council Member Gavin Ferlic called the January 28, 2013 meeting <br /> of the Board of Finance to order at 5:55 p.m. in the Council Informal Meeting Room, 4th Floor <br /> County-City Building. <br /> Persons in attendance included Council Members Scott, Henry Davis, Jr., Schey, Dr. Ferlic, Dr. <br /> Varner, Oliver J. Davis, Gavin Ferlic, Dieter and White; City Controller Mark Neal, Assistant <br /> Controller John Murphy, Interim City Attorney Aladean DeRose, Paul W. Clifford, Jr. of 1st Source <br /> Bank, and Kathleen Cekanski-Farrand, Council Attorney. <br /> Council Member Gavin Ferlic noted that the Board of Finance meeting is being called pursuant to <br /> the notice sent by the Office of the City Clerk on January 24, 2013. Such a meeting is required by <br /> Indiana state law and must be conducted before the end of January each year. <br /> The first item on the agenda was to election officers for 2013 for the Board of Finance. Upon voice <br /> motions, Council Member Gavin Ferlic was re-elected as President and Tim Scott was re-elected as <br /> Board Secretary. <br /> Board President Ferlic then called upon the City Controller Mark Neal to give a presentation on the <br /> "Annual Investment Report for the Year Ended December 31, 2012" which consists of 37-pages <br /> and sets forth detailed information on the following topics: <br /> • Executive Summary <br /> • Report of 2012 Investments <br /> • Report of Interest Earnings <br /> • Report of Outstanding Loans <br /> • City Recommendations <br /> • Payroll Stale Dated Checks <br /> • Disbursement Stale Dated Checks <br /> • Investment Policy recommended for 2013 <br /> • Stale Dated Check Policy recommended for 2013 <br /> • Cash Reserve Policy/Procedure recommended for 2013 <br /> Following a presentation summarizing each of the above [which are attached] voice motions were <br /> made to approve each report and recommendation, with the motions passing. The Committee also <br /> approved a motion to have City Controller Mark W. Neal and Deputy City Controller John H. <br /> Murphy as the Investment Officers for 2013. <br />