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BOARD OF FINANCE <br />Committee Members Present: <br />Absent Committee Members: <br />JANUARY 25, 2016 3:30 P.M. <br />Dr. Varner, Tim Scott, Karen White, Gavin Ferlic, <br />Jo Broden, John Voorde, <br />Regina Williams Preston (arrived at 3:36 p.m.), <br />Oliver Davis (arrived at 3:45 p.m.) <br />Randy Kelly <br />Others Present: Kareemah Fowler, Kathleen Cekanski — Farrand, <br />Adriana Rodriguez, Alkeyna Aldridge, Joe Molnar, <br />John Murphy, Paul W. Gifford, Rahman Johnson <br />Agenda: Annual Board of Finance Meeting where the South Bend <br />Common Council convenes as a local Board of Finance to <br />Elect its officers <br />Dr. Varner, past secretary of the Board of Finance, called the meeting to session. <br />Dr. Varner announced at this time motions could be made for nomination of the Chairperson for <br />the Board of Finance. <br />Council Member Gavin Ferlic nominated Council President Tim Scott as Chairperson for the <br />Board of Finance. Council Member Karen White seconded the motion which carried by a voice <br />vote of six (6) ayes. <br />Tim Scott, as Chairperson, announced at this time nominations could be taken for the Board of <br />Finance secretary. <br />Council Member Gavin Ferlic nominated Dr. David Varner as Secretary of the Board of Finance. <br />President Tim Scott seconded the motion which carried by a voice vote of six (6) ayes. <br />John Murphy, City Controller with offices on the 12`h Floor of the County -City Building, <br />presented the Annual Investment Report. Mr. Murphy stated they had emailed the report to the <br />Council and it is available to the public online but he also brought hard copies to the meeting. <br />Mr. Murphy introduced the investment advisors team of Paul Gifford, James Welch, and Erik <br />Clapsaddle. He also announced the city investment officers are himself, Jennifer Hockenhull, <br />and Rahman Johnson. <br />Mr. Murphy went over the structure of the report and how it will be presented. Mr. Murphy <br />asked for a motion to reaffirm the city investment officers for 2016 which was so moved by <br />Council Member Gavin Ferlic and seconded by Dr. Varner. The motion carried by a voice vote <br />of six (6) ayes. <br />