Board of Trustees of the Galveston Wharves 

FINANCE COMMITTEE

Tuesday, April 19, 2022 9:00 a.m.
Port of Galveston
123 Rosenberg Avenue, 8th Floor
Galveston, Texas 77550


FINANCE COMMITTEE MEMBERS
Todd Sullivan, Chairman
Jeff Patterson
Victor Pierson

NOTICE OF MEETING

 The Finance Committee Meeting is open to the public. 

 

Members of the public may participate in the meeting in the following ways:

1. Watch the meeting at the following online at: 

    https://www.portofgalveston.com/68/watch-meetings-online

2. Submit public comment in advance of the meeting. Comments can be submitted to

    https://www.portofgalveston.com/formcenter/public-comment-form-2/public-comment-form-36

3. Attend the meeting in person at the above address. 


I.

CALL TO ORDER

1.A. Roll Call

1.B. Declaration of Quorum

1.C. Declaration of Conflicts of Interest 

1.D. Invocation 

1.E. Comments from the public

II.

BUSINESS ITEMS

II.A.

Consider and Approve Portfolio Performance Analysis Report, Summary of Investment Performance Report and Investment Detail of the Galveston Wharves Pension Plan for the Quarter Ending March 31, 2022 and Discuss and Consider any Percentage Changes in Fund Mix that may be Necessary to Increase Investment Results (F1)

Documents:
  1. F1.pdf
II.B.

Discuss and Consider Acceptance of the Actuarial Valuation of the Galveston Wharves Pension Plan as of January 1, 2022 Which includes the GASB 67 and 68 Report, Related Assumptions and Approval of Contribution to the Plan for 2022 (F2)

Documents:
  1. F2.pdf
II.C.

CFO REPORT/CONSENT AGENDA (F3)

  • Consider Board and Staff Expense Reports (a.) 
  • Consider Financial Statements (b.)
  • Accept Port Investments Report (c.)
  • Accept Bank Reconciliation Report and Schedule of Restricted Fund Balances Report (d.)
  • Accept Cash Flow Projections (e.)
  • Accept Monthly Delinquent Accounts Receivable Analysis (f.)
  • Accept Vendor Check Register Report (g.)
  • Consider Trade Development (h.)
II.D.

Discuss and Consider Resolution Approving the Galveston Wharves Investment Policy Following the Annual Review as Required by the Public Funds Investment Act (F4)

Documents:
  1. F4.pdf
II.E.

Discuss and Consider Adoption of Reimbursement Resolution to Reimburse Cash Fund Expenditures with Bond Funds in the Event a of a Subsequent Bond Issue by the Galveston Wharves (F5)

Documents:
  1. F5.pdf
II.F.

Discuss Understanding of the Formula from the Contingency Agreement with Law Firm, and Show Examples of Recent Payout Calculations

III.

COMMENTS FROM THE FINANCE COMMITTEE ON AGENDA ITEMS

IV.

SET DATE AND TIME OF NEXT MEETING

V.

ADJOURNMENT

I certify that the above Notice of Meeting was posted in a place convenient to the public, in accordance with Chapter 551 of the Texas Government Code, on or before 4:00 p.m. Thursday, April 14, 2022.
 
 
 ____________________________________________
 Rodger Rees, Port Director/CEO

Please Note:

IT IS POSSIBLE THAT ONE OR MORE MEMBERS OF THE BOARD OF TRUSTEES WHO ARE NOT MEMBERS OF THE FINANCE COMMITTEE MAY ATTEND THIS MEETING. IF THE ATTENDANCE BY SUCH TRUSTEES RESULTS IN A QUORUM OF THE FULL BOARD OF TRUSTEES BEING PRESENT AT THE MEETING, THIS MEETING WILL ALSO BE CONSIDERED A MEETING OF THE FULL BOARD OF TRUSTEES. 

IN ACCORDANCE WITH THE PROVISIONS OF THE AMERICANS WITH DISABILITIES ACT (ADA), PERSONS IN NEED OF A SPECIAL ACCOMMODATION TO PARTICIPATE IN THIS PROCEEDING SHALL, WITHIN THREE (3) DAYS PRIOR TO ANY PROCEEDING, CONTACT THE SECRETARY’S OFFICE, 123 ROSENBERG, 8TH FLOOR, GALVESTON, TEXAS 77550 (409-766-6105).