SUBJECT:
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Approval of a resolution appointing Kevin Conlan, Interim Executive Vice President & Chief Financial Officer, to the CapMetro Investment Committee as an investment officer, with the authorization to withdraw, invest, reinvest, and accept payment with interest, consistent with the investment policy.
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FISCAL IMPACT:
This action has no fiscal impact.
STRATEGIC PLAN:
Strategic Goal Alignment:
☐ 1. Customer ☐ 2. Community
☐ 3. Workforce ☒ 4. Organizational Effectiveness
EXPLANATION OF STRATEGIC ALIGNMENT: This appointment ensures that CapMetro is in compliance with its investment policy.
BUSINESS CASE: There is a vacancy on the CapMetro Investment Committee. This appointment ensures that CapMetro is in compliance with its investment policy by having a complete Investment Committee.
COMMITTEE RECOMMENDATION: This item will be presented to the full board on August 25, 2025.
EXECUTIVE SUMMARY: CapMetro’s investment policy provides for the delegation of authority to invest CapMetro funds and the execution of any documentation necessary to evidence the investment of CapMetro funds to the investment advisory firm under the current contract (PFM Asset Management LLC) and those CapMetro personnel authorized as investment officers. The policy further provides that CapMetro's Board of Directors will designate in writing those CapMetro personnel serving as investment officers and authorized to invest on behalf of CapMetro. These designated investment officers shall perform their duties in accordance with the investment policy adopted annually by the Board of Directors. The investment officers form an investment committee that meets quarterly with the investment advisory firm to review performance results. The investment policy dictates the type of investments that can be made and the maximum percentages of the portfolio for each type of investment. Decisions on how to invest CapMetro’s funds are made with the advice of the investment advisory firm and concurrence from the investment committee.
There is currently a vacancy on the committee and this item will appoint Kevin Conlan, Interim Executive Vice President and Chief Financial Officer, to the committee.
DBE/SBE PARTICIPATION: Does not apply.
PROCUREMENT: Does not apply.
RESPONSIBLE DEPARTMENT: Finance
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RESOLUTION
OF THE
CAPITAL METROPOLITAN TRANSPORTATION AUTHORITY
BOARD OF DIRECTORS
STATE OF TEXAS
COUNTY OF TRAVIS
AI-2025-1577
WHEREAS, the Capital Metropolitan Transportation Authority Board of Directors is required by CapMetro’s investment policy to designate in writing investment officers to invest on behalf of CapMetro with the advice of CapMetro’s investment advisory firm under contract.
NOW, THEREFORE, BE IT RESOLVED by the Capital Metropolitan Transportation Authority Board of Directors that Kevin Conlan, Interim Executive Vice President and Chief Financial Officer, is hereby appointed as an investment officer to the CapMetro Investment Committee and is authorized to withdraw, invest, reinvest and accept payment with interest consistent with the investment policy.
____________________ Date: ____________________
Secretary of the Board
Becki Ross