HomeMy WebLinkAbout2017-03-27 10:00AM WORKSHOPBRAZOS COUNTY
BRYAN,TEXAS
NOTICE OF MEETING AND AGENDA
WORKSHOP SESSION
BRAZOS COUNTY COMMISSIONERS COURT
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BRAZOS COUNTY COMMISSIONERS WILL MEET IN A WORKSHOP SESSION AS FOLLOWS.
MEETING DATE. March 27, 2017
MEETING TIME. 10.00 AM
MEETING PLACE Brazos County Administration Budding, 200 South Texas
Ave., Suite 339, Bryan, Texas
1 Call to Order
2. Presentation and discussions with Public Financial Management regarding results In
investments In the Other Post -Employment Benefits Trust.
3. Adjourn
The &ams County Admnistration Building, 200 South Terns Ave , Suite 339, Bryan, Teras is Meelchair accessible
F+andreap parking spaces are available any request for sign interpretive services must be made tvo vorkmg days
before the meeting To make arrangements, please call (979) 361-4102
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MINUTES
MARCH 27, 2017
BRAZOS COUNTY COMMISSIONERS COURT
WORKSHOP SESSION
Call to Order
The Commissioners' Court of Brazos County, Texas met in a Workshop Session in
Room 339 in the Brazos County Administration Building in Bryan, Brazos County,
Texas, beginning at 10:00 a.m. on Monday, March 27, 2017 with the following members
of the Court present:
Duane Peters, County Judge, Presiding;
Steve Aldrich, Commissioner of Precinct 1;
Sammy Catalena, Commissioner of Precinct 2;
Nancy Berry, Commissioner of Precinct 3;
Irma Cauley, Commissioner of Precinct 4;
In addition to the Commissioners' Court the following people were in attendance:
Katie Conner, County Auditor;
Amy Banks, Auditor's Office;
Jennifer Salazar, Human Resources Director;
Irene Jett, Budget Officer;
Cheryl Coffman, Administrative Secretary.
Judge Peters called the meeting to order and invited the County Auditor, Katie Conner
to begin the meeting.
Presentation and discussions with Public Financial Management regarding results in
investments in the Other Post -Employment Benefits Trust.
Ms. Conner stated that Brazos County has a contract with Public Financial Management
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LLC (PFM) to manage the Other Post -Employment Benefits Trust. She stated that the
County has invested $500,000. Ms. Conner introduced John Robinson with Public
Financial Management.
Mr. Robinson handed out copies of the Fourth Quarter Report and explained the report.
Mr. Robinson said that they will make changes to the portfolio as the market indicates to
be the most advantageous. Mr. Robinson said that they manage the portfolio
conservatively. Mr. Robinson went over the report highlighting areas such as: the
economy, domestic equity and fixed income. He said that they are starting to see the
economy pick up and expects it to continue to do so. Mr. Robinson said that the County
invested $500,000 and as of December 31, 2016 the Market Value is $505,859. He
explained that several of the investments are in Mutual Funds.
Commissioner Aldrich asked if they use ETF or Open Ended Funds.
Mr. Robinson said they use Open Ended Funds.
Commissioner Aldrich asked if they use Global Bond Funds.
Mr. Robinson said that yes, they do have some Global Bond Funds. He went on to
explain that they look at all areas and if they see an opportunity in a specific sector, then
they will allocate funds into those sectors. Mr. Robinson also said that they are
concerned over how changes in Congress will affect the market place, but still expects
improvements in the economy. He said they look at it from a long term perspective
instead of a short term perspective.
Commissioner Aldrich asked about investing smaller amounts and would like to see a
dollar cost averaging over a period of time.
Mr. Robinson explained that you will have more manager fees and transaction costs with
smaller amounts. He said that the bank as a trustee charges the fees.
There being no further business to discuss the meeting was adjourned
Adjourn
The foregoing minutes of the Commissioners Court Workshop Session held March 27
2017, have been examined and are approved in open Court this the *91 day of
AD(I' 2017, in Bryan, Brazos County, Texas.
Qters
County Judge
Irma Cauley �/
Commissioner. Precinct 4
Attest
Karefi McQueen
County Clerk
G ✓
Steve Aldrich
Commissioner, Precinct I
Commissioner, Precinct 3
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