ITEM TITLE:
Annual Permanent Fund Meeting
SUBMITTED BY: Brian Carlson, Finance Director
FISCAL NOTES:
Expenditure Required: n/a
Unencumbered Balance: n/a
Funding Source: n/a
RECOMMENDATION:
Receive and file
SUMMARY STATEMENT:
• This one-hour workshop is the annual Permanent Fund discussion with Council.
• City’s Investment Advisor, Alex Browning, from Callan LLC will join remotely. Normally Mr. Browning makes a site visit, but recent developments made travel seem inadvisable to Callan, staff, and some Committee members.
• Workshop is a high-altitude view of the Fund and its history and purpose, presented by Mr. Browning. There will likely be abundant time for Council Q&A, as well as interaction with Permanent Fund Committee.
• Staff will also present simple modeling of Fund growth rates, appropriations, and future income scenarios.