Veritas Preparatory Charter School
Minutes
Investment Sub-Committee Meeting
Date and Time
Tuesday April 25, 2023 at 4:30 PM
Location
Committee Members Present
D. Ford (remote), M. Landon (remote), R. Romano (remote)
Committee Members Absent
A. Mendelson, L. Mills, S. Howard
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
M. Landon called a meeting of the Investment Sub-Committee Committee of Veritas Preparatory Charter School to order on Tuesday Apr 25, 2023 at 4:30 PM.
C.
Approve Minutes
M. Landon made a motion to approve the minutes from Investment Sub-Committee Meeting on 01-24-23.
D. Ford seconded the motion.
The committee VOTED unanimously to approve the motion.
II. Investment Sub-Committee
A.
Annual Investment Policy Review
B.
Veritas Investment Portfolio Update
Steve Howard was not present to answer questions. The committee reviewed and discussed changes to the portfolio. It is conservative and relatively strong compared to the world. Steve and SH has done a good job protecting the investment and there is an increase this period. Matt will email Steve with a few questions and we can consider having Steve come to present to the full board in the near future.
III. Closing Items
A.
Adjourn Meeting
There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 4:52 PM.
Respectfully Submitted,
R. Romano
The committee reviewed the policy and there is not a need to revise anything at this time. The guidelines allow for some flexibility. Seeley Howard has done a great job protecting our assets and we are confident they will be ready to make changes when the market rallies. We are in a good spot relative to the economy and feel good about the guidelines as they are. No need to change policy at this time as all are comfortable with where we are. We will ask SH to review the IPS and consider if they have any changes or revisions. We will bring this to the board in June at the annual meeting.