Public School Fund Investment Board

Public School Fund Investment Board

March 15, 2017

2:00 pm

Public School Fund Investment Board

Board Meeting

Agenda

Public School Fund Investment Board Members

Walker Stapleton – Colorado State Treasurer (Board Chair)

Jackie M. Hawkey – Dividend Capitol

Frederick Taylor – Northstar Investment Advisors

John Hereford – Oakleaf Energy Partners

Gregory Moffet – State Land Board Commissioners

  1. Call to Order – 2:03 pm
  1. Roll Call- Via Telephone: Walker Stapleton, Jackie M. Hawkey, Frederick Taylor, John Hereford, Leeann Morrill, Maruti More and Erin Gallegos.

After the roll call Walker Stapleton announced that the new deputy state treasurer Ryan Parcell will start on March 27th. Walker Stapleton also introduced LeeAnn Morrill who is filling in for Grant Sullivan from the Attorney General’s office.

  1. Review and Approval of Minutes – All approved with one fix under section V part b.
  1. Action Items
  1. Callan Contract –
  2. Walker Stapleton has signed the Callan contract and hopes that it will be signed before April 1st.
  3. Maruti More announced that the contract is missing Exhibit B. Annie Lyons was working with Callan to find the missing form.
  4. The contract cannot be signed by the controller’s office without the exhibit.
  1. Investment Conflict of Interest
  2. The board agreed to use the Land Trust’s Investment Conflict of Interest. With the correction of attorney being clarified as the attorney general’s attorney.
  3. Walker Stapleton called a motion to approve the Conflict of Interest at 2:15 pm. Motion passed unanimously.
  1. Investment Policy
  2. Maruti shared a place holder Investment Policy that Maruti and Grant from the Attorney General’s Office worked on together.
  3. The board suggested a lot of changes.
  4. Since this is a place holder investment policy the board decided to not use this policy. They decided to use the 2010 policy from the state treasurer’s office.
  5. This policy will be a starting point and the board will amend it to make it their own investment policy.
  6. Walker Stapleton called a motion to adopt the 2010 state treasurer’s office policy at 2:44 pm. Motion passed unanimously.
  7. Will be posted on the website after Grant Sullivan reviews the policy at the attorney general’s office.
  1. Distribution of Income and Interest
  2. Statute states that the board would need to decide where any money after a certain amount will be allocated by April 1st.
  1. Reimbursement of legal fees to the Treasurer’s Office
  2. At 2:50 pm Walker Stapleton called a motion to approve that the board would reimburse the treasurer’s office for legal fees paid up to July 1st. The motion passed unanimously.
  1. Brief Review of the Callan April 10th Kick-off Meeting Agenda
  2. Discussed having Callan at the next meeting.
  1. Meeting Schedule

Next meeting is April 10, 2017 at 2 pm.

  1. Public Comment – no public comment
  1. Board Adjournment – adjourned 2:53 pm
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