TOWN OF MANCHESTER, VERMONT
INVESTMENT ADVISORY COMMITTEE (IAC) MINUTES
Committee Attendees: Andy Shaw, Donald Brodie, Marie Ferrarin, Glenn Cestaro, John O'Keefe, Tara Dowden
Town Staff Attendees: None
Public Attendees: None
Brian Vogel called the meeting to order at approximately 9:00am.
Minutes from August 3, 2020
Shaw moved, seconded by Brodie, to approve the minutes from August 3, 2020. Motion carried 6-0.
Review of Town Investments
Vogel reviewed the investment performance since the last meeting and that all of the investments were performing acceptably within Town regulations.
O'Keefe and the other members discussed the recent local option revenue figures.
The Board discussed capital needs for the near future. Vogel stated the there was about 11% cash in the portfolio. He recommended holding the cash for the time. Board members agreed.
The Board agreed to meet again on October 9.
Adjournment
Ferrarin moved, seconded by Dowden, to adjourn. Motion carried 6-0.
APPROVED BY: ______________________________________________
CLERK