File #: 21-0428    Version: 1
Type: Work Session Item Status: Filed
File created: 9/2/2021 In control: City Council
On agenda: 9/7/2021 Final action: 9/7/2021
Title: Annual Permanent Fund Meeting
Sponsors: City Council
Attachments: 1. Council I. 2021 2Q City Council_Valdez-Final, 2. Council III. Staff Presentation

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.