2001.08.07_FAB_Minutes_Special• FINANCIAL ADVISORY BOARD
SPECIAL MEETING
MINUTES
Tuesday, August 7. 2001 9.30 A.M.
Chairman Felix R. Goldenson called the meeting to order at 9:30 a.m. Also present
were Vice -Chair Marianne Salibello, Byron R. McKinley and Alan Teller. Town Manager
Ben Saag, Finance Director Stan Novak and members of the general public were also
present.
NEW BUSINESS - Investment Policy Review
Mr. Novak presented guest speaker Mark Keerkel who is a broker with Multi -Bank
Securities, Inc. Mr. Keerkel spoke to the Board about consideration of additional
investments other than the currently used SBA (State Board of Administration Local
Government Surplus Trust Fund). These may include: Fanny May; Freddy Mack;
taxable munies (municipal bonds); bankers acceptance.
After further discussion, it was recommended to add changes to subject policy.
Investments could only be implemented by passing through the Town Commission on
a case by case basis.
• A Quarterly meeting will be held in the November timeframe, whereby a second review
of subject proposed policy will be considered.
With no other business to come before the Board, MOTION to adjourn was made by
MR. TELLER/MR. McKINLEY at 10:50 a.m.
APPROVAL
Felix R. Goldenson, Ch.
Marianne Salibello,
l
cKinley
. Attu
Alan Teller Da-