HomeMy WebLinkAboutMay 1Meeting Minutes
Los Altos Hills Finance and Investment Committee
Monday, May 1, 2006
Town Hall
1. Roll call
Members present: Wilf Corrigan, Karl Kneip, Jim Lai, Frank Lloyd, Stan Mok, Jean
Mordo, Doug Norby, and Lalla Stark
Members absent: none
In attendance: Sarah Ragsdale, Town Administration
Chairperson Mordo called the meeting to order at 6:05
2. Meeting minutes
The minutes of the March 30, 2006 meeting were reviewed and approved by the
committee
3. Presentation on Property Tax by Paula J. Cone, HdL Companies. Paula made a
presentation on the history of property taxes, property tax breakdown, general levy share
estimate and HdL methodology for calculating property tax revenues for the town.
4. Review of Investments by Nsesa Kazadi, The PFM Group. Nsesa reviewed PFM’s
2006 first quarter Quarterly Investment Review. The report covered current economic
conditions, portfolio maturities and cumulative earning analysis against LAIF.
5. Findings of Actuarial Study for Post Employment Health Benefits by Doug Pryor of
Bartel Associates. The preliminary report covered current assumptions, Bartel Associates
interpretations and the estimated actuarial obligations. Chairman Mordo made the
recommendation that everyone read the report for further discussion at our next meeting.
We request that Doug Pryor prepare for a discussion of what is allowed under
CARPERS.
6. Presentations from the floor – Sarah Ragsdale distributed the Monthly Financial
Report for March 31, 2006
7. Adjournment – The meeting was adjourned at 8:00 p.m.