HomeMy WebLinkAboutOut-of-State Travel - City Treasurer & Deputy CT - Gvrnmnt Invstmnt Officers' AssociationCITY OF PALM DESERT
OFFICE OF THE CITY TREASURER
STAFF REPORT
REQUEST: Authorize the City Treasurer and the Deputy City Treasurer to
attend an investment conference in Las Vegas, Nevada.
APPLICANT: N/A
CASE NOS. N/A
DATE: January 13, 2004
CONTENTS: Exhibit "A": GIOA Invitation Letter
Exhibit "B": GIOA Meeting Agenda
Recommendation:
By Minute Motion: That the City Council authorize the City Treasurer and the
Deputy City Treasurer to attend the Government Investment
Officers' Association's First Annual Meeting in Las Vegas,
Nevada from March 30-April 1, 2004.
Background:
The City Treasurer's Office recently received an invitation from the Government
Investment Officers' Association ("GIOA") to attend its First Annual Conference in Las
Vegas, Nevada from March 30-April 1, 2004.
GIOA was recently formed to serve as a clearinghouse for investment officers
throughout the 50 states, in terms of exchanging investment strategies and information.
As pointed out in the attached letter, many existing government finance organizations
(i.e., California Society of Municipal Finance Officers) focus more on accounting,
auditing, and financial . reporting than on investments. GIOA, in contrast, focuses
exclusively on investments. This should draw government agencies with full-time
investment officers and $100+ million portfolios as members. They could be a useful
source of information for the City Treasurer's Office.
The City Treasury staff would like to attend this conference in order to assess the
potential of this new organization. Prior to receiving this invitation, we had received an
e-mail from our Merrill Lynch broker recommending this conference. The estimated
cost for one person to attend the conference would be $975.
Staff Report
Authorization for City Treasury Staff to Travel Out -of -State
January 13, 2004
Page2of2,
Submitted By:
Paul S. Gibson, C.C.M.T., City Treasurer
Approved By:
os L. Orte a it
Manager g y
EXHIBIT "A"
Government Investment
Officers' Association
Government Investment
Officers Association
www.GIOA.us
Rick Phillips
President
Tonya Dazzio
Vice President
Chris Woodard
Treasurer
Phone: (702) 455-6443
Fax: (702) 382-3014
Dear Government Investment Officer:
Sure...you must be thinking...l wish I was only an Investment Officer and didn't have to
wear 10 other hats! I'm sure a more appropriate title might be "experienced juggler" as you
manage the many tasks required of a typical Investment Officer in the municipal world. I
know this first hand since I have worked in the wonderful world of municipal treasury
management for the past 15 years. My name is Rick Phillips and 1 am currently the Chief
Investment Officer of Clark County Nevada. Prior to working at the County, I also served as
the Investment Officer for the City of Las Vegas. Through my work experience and my
relationships with many of you, I have come to understand the various challenges of
working at both large and small entities.
I am writing to tell you about an exciting opportunity to bring many profes 'annals together so
we can assist each other in this very unique area of investment management.
Like you, I: have been a member of many great professional organizations and have
attended many of their conferences: Attendance and membership have provided a
tremendous benefit to me personally and professionally. However, most of these -
organizations have a multiple focus -- accounting, auditing, tax collection, financial
reporting, investments etc. Since the challenges of money management continue to be
more complex, I believe there are many Investment Officers who would benefit from a
greater focus on the day-to-day investment functions; therefore, a new non-profit
organization has been formed.
The Government Investment Officers' Association or "GIOA" - is a national organization
and has a mission to address the needs and challenges for managers of portfolios of all
sizes. Membership benefits will include newsletters, surveys, and a mentoring program. To
kick us off, the GIOA's first conference will be held in Las Vegas, Nevada from March
30 thru April 1, 2005. We are excited to have CNBC's Rick Santelli as the keynote
speaker. Attached you will find a conference agenda, membership registration form, and
more information regarding GIOA. You can also visit our website at www.GIOA.us. If you
would like to get involved, we are also looking for individuals to serve as members of the
board and on various committees.
If you need additional information, please contact me via phone or email. I look forward to
seeing you in Las Vegas!
Rick Phillips
GIOA President
702-455-6443
rph@co.clark.nv.us
GIOA 10300 West Charleston Blvd. #13-390 LAS VEGAS NV 89135-1038 Tax ID: 01-0774114
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