Video index
March 15, 2010 Regular Board Meeting - 5:30 p.m.
A. Convene, Roll Call
B. Approve Agenda
C. Consent Agenda
D. Non-Consent Agenda
King County Investment Pool Interlocal Agreements
3. King County Investment Pool Interlocal Agreements
3. King County Investment Pool Interlocal Agreements
TAB 3 - Investment Pool - Nancy asked to have tab 3 little dicussion - in our school district series of investments so as money comes infor bond proceed and other invest dollars. KC agreed to reduce the basis points from 15 to 12 basis points and began to develop new system - lower it and look at it. Second cash management agreement - this portion costs 8 basis 11 points - depends on the interest - and it is capped at 8 basis points. Things that include is doing daily sweep of cash balance - invested - crediting district bank deposit - - designed to sav us money -optional componetn - pleased there is an option to use other investm services and evaluating in -house ando another firm. evaluting what the possibility for us as an organization - presure right now in Olympia around State treasure alolwing districts to take part in these optional program and hearing on Wed to see if we want to testify on work that is going on Olympia to push back on this bill to allow us do to it. Chris Carolson arrived at 5:45 p.m. Janane - two bills - one dpass allow us to become our own treasurer to go outside peopel invest our money - clear our own warrant mucyh like cities can be, port - other govt agencies, KC to be treasurer or own banking serivce.s That bill did not pass. Subsequent bill pass reinforce required infvestmeen pool actual costs basis for caluclation of their fee - it was clarified actual expenses meant. Actual expense bill may only charge actual costs may pass - that resulted in this rethinking of how they set their fee. Only charge actual costs investment pool fee we still provide all these other serives than you have to pay a separte fee. In our anaylsis the savings that we wil incur 2008-009 293,000 for the basis points and was the year 15 basis to 12. the 3% basis points aves 20,000. The current proposal 80,000 substnatial savings . one ofthe challenges with cash managemtn at the interest of 1.2 46,000 - 5%, 192,000 equivalent to what we are paying previously - Jaie - today just th investment pool agrement piece - Need by March 31. Jackie - part of ht ecomplexity. Motion - Nancy -moved Ravi seconded. Motion carried unanimously. (Chris is present). Motion carries.
King County Investment Pool Interlocal Agreements
3. King County Investment Pool Interlocal Agreements
3. King County Investment Pool Interlocal Agreements
TAB 3 - Investment Pool - Nancy asked to have tab 3 little dicussion - in our school district series of investments so as money comes infor bond proceed and other invest dollars. KC agreed to reduce the basis points from 15 to 12 basis points and began to develop new system - lower it and look at it. Second cash management agreement - this portion costs 8 basis 11 points - depends on the interest - and it is capped at 8 basis points. Things that include is doing daily sweep of cash balance - invested - crediting district bank deposit - - designed to sav us money -optional componetn - pleased there is an option to use other investm services and evaluating in -house ando another firm. evaluting what the possibility for us as an organization - presure right now in Olympia around State treasure alolwing districts to take part in these optional program and hearing on Wed to see if we want to testify on work that is going on Olympia to push back on this bill to allow us do to it. Chris Carolson arrived at 5:45 p.m. Janane - two bills - one dpass allow us to become our own treasurer to go outside peopel invest our money - clear our own warrant mucyh like cities can be, port - other govt agencies, KC to be treasurer or own banking serivce.s That bill did not pass. Subsequent bill pass reinforce required infvestmeen pool actual costs basis for caluclation of their fee - it was clarified actual expenses meant. Actual expense bill may only charge actual costs may pass - that resulted in this rethinking of how they set their fee. Only charge actual costs investment pool fee we still provide all these other serives than you have to pay a separte fee. In our anaylsis the savings that we wil incur 2008-009 293,000 for the basis points and was the year 15 basis to 12. the 3% basis points aves 20,000. The current proposal 80,000 substnatial savings . one ofthe challenges with cash managemtn at the interest of 1.2 46,000 - 5%, 192,000 equivalent to what we are paying previously - Jaie - today just th investment pool agrement piece - Need by March 31. Jackie - part of ht ecomplexity. Motion - Nancy -moved Ravi seconded. Motion carried unanimously. (Chris is present). Motion carries.
E. Superintendent Report
F. Board Follow-Up Items
G. Board Member Comments
H. Executive Session re Collective Bargaining
Mar 15, 2010 March 15, 2010 Regular Board Meeting, 5:30 p.m.
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March 15, 2010 Regular Board Meeting - 5:30 p.m.
A. Convene, Roll Call
B. Approve Agenda
C. Consent Agenda
D. Non-Consent Agenda
King County Investment Pool Interlocal Agreements
3. King County Investment Pool Interlocal Agreements
3. King County Investment Pool Interlocal Agreements
TAB 3 - Investment Pool - Nancy asked to have tab 3 little dicussion - in our school district series of investments so as money comes infor bond proceed and other invest dollars. KC agreed to reduce the basis points from 15 to 12 basis points and began to develop new system - lower it and look at it. Second cash management agreement - this portion costs 8 basis 11 points - depends on the interest - and it is capped at 8 basis points. Things that include is doing daily sweep of cash balance - invested - crediting district bank deposit - - designed to sav us money -optional componetn - pleased there is an option to use other investm services and evaluating in -house ando another firm. evaluting what the possibility for us as an organization - presure right now in Olympia around State treasure alolwing districts to take part in these optional program and hearing on Wed to see if we want to testify on work that is going on Olympia to push back on this bill to allow us do to it. Chris Carolson arrived at 5:45 p.m. Janane - two bills - one dpass allow us to become our own treasurer to go outside peopel invest our money - clear our own warrant mucyh like cities can be, port - other govt agencies, KC to be treasurer or own banking serivce.s That bill did not pass. Subsequent bill pass reinforce required infvestmeen pool actual costs basis for caluclation of their fee - it was clarified actual expenses meant. Actual expense bill may only charge actual costs may pass - that resulted in this rethinking of how they set their fee. Only charge actual costs investment pool fee we still provide all these other serives than you have to pay a separte fee. In our anaylsis the savings that we wil incur 2008-009 293,000 for the basis points and was the year 15 basis to 12. the 3% basis points aves 20,000. The current proposal 80,000 substnatial savings . one ofthe challenges with cash managemtn at the interest of 1.2 46,000 - 5%, 192,000 equivalent to what we are paying previously - Jaie - today just th investment pool agrement piece - Need by March 31. Jackie - part of ht ecomplexity. Motion - Nancy -moved Ravi seconded. Motion carried unanimously. (Chris is present). Motion carries.
King County Investment Pool Interlocal Agreements
3. King County Investment Pool Interlocal Agreements
3. King County Investment Pool Interlocal Agreements
TAB 3 - Investment Pool - Nancy asked to have tab 3 little dicussion - in our school district series of investments so as money comes infor bond proceed and other invest dollars. KC agreed to reduce the basis points from 15 to 12 basis points and began to develop new system - lower it and look at it. Second cash management agreement - this portion costs 8 basis 11 points - depends on the interest - and it is capped at 8 basis points. Things that include is doing daily sweep of cash balance - invested - crediting district bank deposit - - designed to sav us money -optional componetn - pleased there is an option to use other investm services and evaluating in -house ando another firm. evaluting what the possibility for us as an organization - presure right now in Olympia around State treasure alolwing districts to take part in these optional program and hearing on Wed to see if we want to testify on work that is going on Olympia to push back on this bill to allow us do to it. Chris Carolson arrived at 5:45 p.m. Janane - two bills - one dpass allow us to become our own treasurer to go outside peopel invest our money - clear our own warrant mucyh like cities can be, port - other govt agencies, KC to be treasurer or own banking serivce.s That bill did not pass. Subsequent bill pass reinforce required infvestmeen pool actual costs basis for caluclation of their fee - it was clarified actual expenses meant. Actual expense bill may only charge actual costs may pass - that resulted in this rethinking of how they set their fee. Only charge actual costs investment pool fee we still provide all these other serives than you have to pay a separte fee. In our anaylsis the savings that we wil incur 2008-009 293,000 for the basis points and was the year 15 basis to 12. the 3% basis points aves 20,000. The current proposal 80,000 substnatial savings . one ofthe challenges with cash managemtn at the interest of 1.2 46,000 - 5%, 192,000 equivalent to what we are paying previously - Jaie - today just th investment pool agrement piece - Need by March 31. Jackie - part of ht ecomplexity. Motion - Nancy -moved Ravi seconded. Motion carried unanimously. (Chris is present). Motion carries.
E. Superintendent Report
F. Board Follow-Up Items
G. Board Member Comments
H. Executive Session re Collective Bargaining
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