HomeMy WebLinkAbout01-24-2022 Board of FinanceOFFICE OF THE CITY CLERK
DAWN M. JONES, CITY CLERK
BOARD OF FINANCE
Council Members Present:
Council Members Absent:
Others Present:
JANUARY 24, 2022 4:00 P.M.
Sharon L. McBride, Sheila Niezgodski, Eli Wax,
Rachel Tomas Morgan, Lori K. Hamann,
Canneth Lee, Karen L. White, Troy Warner
Henry Davis Jr.
Dawn Jones, Bianca Tirado, Rachael Coates, Elivet Navarro,
Bob Palmer
Presenters: Dan Parker, Paul Gifford
Agenda: Annual Board of Finance Meeting where the South Bend
Common Council convenes as a local Board of Finance
to Elect its Officers and to Review the City Controller's
Annual Investment Report
Council President Sharon L. McBride called to order the Board of Finance meeting at 4:00
p.m.
Full audio dialogue of the meeting is available upon request from the City Clerk's Office.
Attorney Bob Palmer provided background on the Board of Finance, which consists of all members
of the Common Council and must meet once per year to discuss the investment of the city's
resources.
Councilmember Lori K. Hamann made a motion to volunteer as President for the Board of Finance.
Councilmember Sheila Niezgodski seconded the motion, which passed by a voice vote of eight (8)
ayes.
Councilmember Lori K. Hamann was appointed Board President.
President McBride made a motion to nominate Councilmember Rachel Tomas Morgan for
Secretary of the Board of Finance. Councilmember Sheila Niezgodski seconded the motion, which
passed by a voice vote of seven (7) ayes. Councilmember Karen L. White was experiencing
technical difficulties during the motion.
Councilmember Rachel Tomas Morgan was appointed Board Secretary.
Dan Parker, City Controller, with offices on the twelfth (121h) floor of the County -City Building,
introduced the 2021 Investment Report.
EXCELLENCE 11 ACCOUNTABILITY I INNOVATION 11 INCLUSION I EMPOWERMENT
455 County -City Building 227 WJefferson Bvld South Bend, Indiana 46601 p 574.235.9221' f574,235.9173 TTD574.235.5567 www.soutiibendin.gov
0CITY OF SOUTH BEND j OFFICE OF THE CLERK
Paul Gifford, Chief Investment Officer at lst Source Bank, 100 N Michigan St, South Bend,
Indiana, presented the 2021 Investment Report.
Board President Lori K. Hamann asked if the limit on policy type reduces risk.
Mr.Gifford confirmed that it is a risk management tool.
Mr. Parker presented the Investment Policy of the City of South Bend.
With no further business, Board President Lori K. Hamann adjourned the Board of Finance
meeting at 4:19 p.m.
Respectfully Submitted,
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4LoHama"nn,Board President
EXCELLENCE j ACCOUNTABILITY 1 INNOVATION ; INCLUSION I EMPOWERMENT
455 County -City Building 227 W. Jefferson Bvld South Bend, Indiana 46601 p 574.235.9221 f 574.235.9173 TTD574.235.5567 womsouthhendin.gov
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