Staff Reports
Tracey Christianson will give us an update on the Select Inc. contract renewal/renegotiation as well as plans for future deliverables and focus of their work. She will also brief the committee on the results of the Competitive Grant (no applications); at a later meeting she will propose a repositioning of this program.
Subcommittee Reports:
Progress reports on the various subcommittee efforts – no decisions needed. Please look at the five revised CFP-related Policy statements in Sharepoint as well as the Nominations Committee policy.
Discussion Items:
(1) Nominations Committee - the EC should weigh in on whether the process needs any tweaking before I start the ball rolling with appointing the Committee.
(2) Fiduciary Liability – Tom Kramer makes a number of suggestions for action (such as asking ICMA to officially assume fiduciary liability) that the EC may want to pursue. In addition, the EC will have a policy related decision to make at the September 10th meeting.
(3) Investment Strategy – Staff is proposing a change to more active management, which will impact the work on the Investment Policy. Note that an investment strategy is a statement of what should be done versus the investment policy which defines what is legal.
(4) Nature of WSTIP’s Relationship with GEM –the goal is to make explicit the EC expectations in this area, given the intra-staff discussions that have heretofore taken place.
(5) Role of General Counsel – appropriate time to revisit and clarify the EC’s expectations with regard to what Ron Franz does or doesn’t do (or shouldn’t be expected to do) for WSTIP.
Recap:
We’ll review the work plan for the next few months and adjourn before lunch.