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Finance/Investment Committee Meeting

May 21 @ 3:00 pm - 4:30 pm

SPECIAL MEETING

REGIONAL ACCESS PROJECT FOUNDATION
FINANCE/INVESTMENT COMMITTEE MEETING
Wednesday May 20, 2020 at 9:00 AM

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https://us02web.zoom.us/j/81297126691

CALL-IN Information 1 669 900 6833 Meeting ID: 812 9712 6691

This meeting is being conducted utilizing teleconferencing and electronic means only. There will not be a physical location. Members of the public may be able to participate by telephone, using the following dial- in information: 1 669 900 6833 Meeting ID: 812 9712 6691 Reasonable accommodation: Any individual with a disability who requires reasonable accommodation to attend or participate in this meeting may request assistance by emailing MReyes@RAPFoundation.org. Notification at least 48 hours prior to the meeting start time will enable us to make reasonable arrangements to ensure accessibility to the meeting.

I. CALL TO ORDER

II. APPROVAL OF THE AGENDA

In order to meet Brown Act requirements, items may be added to the agenda only upon a decision by a majority of the Board of Directors to add the item because of a need for immediate action.

Motion:         Second:              Yes____ No____ Abstain

III. PUBLIC COMMENTS/PRESENTATIONS:

Public Comments: All persons wishing to speak are requested to provide their name so they may be recognized at the appropriate time. General comments regarding non- agenda items will be called at this time. Specific comments regarding agenda items will be called for during discussion of each item. Please be prepared to limit your remarks to 3 minutes.

IV. Review the Monthly Financials ending March 31, 2020 (Provided by Treasurer  attach. #1)

Motion:       Second: Yes____ No____ Abstain _____

V. Review the Two Investment Accounts Most Recent Statements -IE Community Foundation (attach. #2a #2b #2c) and Wells Fargo (WF0 attach.#3a #3b #3c). Review Investment Policy Resolution 2019.04
(attach. # 4) and make a recommendation to the Board to make changes in future investments or investment entities.

Motion Second: Yes____ No____ Abstain

VI. Review and modify Proposed FY 2020-21 Budget for Board Recommendation . (attach. #5). Motion:       Second:      Yes____ No____ Abstain_____

VII. Recommendation for Insurance Policy Renewals.
Price and policy changes are reflected in the spreadsheet ( attach. #6).

  • General Liability Policy # 6012172848
  • Commercial Umbrella Policy # 612172865
  • Workers Comp. Policy # 6021048070
  • Employees, Practices Liab., (EPLI) and Directors & Officers (D & O) #EPP3898489
  • Professional Liab. Policy # 596578856

Staff Recommendation: To Recommend to the Board to renew the policies after getting the “okay” from board member V. Tanner (who needs additional time to review the policies) and Treasurer M. Gonda who will determine that coverage is adequate, sufficient, and at a reasonable cost.

Motion          Second:         Yes____ No____ Abstain

VIII. Discuss Banking Relationships and determining key criteria for making recommendation to the Executive Committee and subsequently the Board. (attach.#7)

Motion:        Second:       Yes____ No____ Abstain_____

IX. Board Comments or future actions. Review the Reserve Funds Policy, Quarterly Investment Review. Next tentative meeting set for June 15, 2020 at 10:00 AM? Grants Committee at 1:30

X. ADJOURNMENT: Agendas will be posted on the Foundation website – www.rapfoundation.org – a minimum of 72 hours prior to the meeting date. All public record documents for matters on the open session of the Agenda are available for inspection at the meeting listed in this Agenda, and at the following location three (3) days prior to the meeting date: Regional Access Project Foundation, 41550 Eclectic St. Palm Desert, CA

92260. If a public record document that relates to a matter on the open session of the Agenda is distributed less than 72 hours prior to the meeting date, the public record document shall be

available for inspection, at the same time it is distributed, at the address listed above. Upon request, this agenda will be made available in appropriate alternative formats to persons with disabilities, as required by Section 202 of the Americans with Disabilities Act of 1990.

Details

Date:
May 21
Time:
3:00 pm - 4:30 pm