Finance Committee Meeting Agenda                                   
                                                                                                   UPDATED 
                                         Monday, June 6, 2022 - 1:00pm-2:00pm PDT  
                                        Oxnard College President’s Conference Room 
                                                               
            
           I.      Call to Order 
                   Finance Committee Members 
                     Robert Cabral, Finance Chair                  Teresa Waisman, President Elect 
                     Mike Barber, Board President                  Alex Nguyen 
            
           II.     Public Comments 
            
           III.    Action Items 
                   A.  Finance Committee Meeting Minutes. 
                          a.  Accept the minutes from the March 15, 2022 Finance Committee meeting. 
                   B.  Financial account contact change. 
                          a.  Change the primary contact on investment and bank accounts from Connie Owens to 
                              Pete Parker. 
                   C.  Debit and Credit card name changes. 
                          a.  Remove Connie Owens from existing debit and credit cards, and authorize a 
                              Montecito Bank credit card in Pete Parker’s name. 
                   D.  Approve the 2022-2023 budget. 
                          a.  Approve the Oxnard College Foundation budget for the 2022-2023 fiscal year. 
                    
           IV.     Information/Discussion Items 
                   A.  Investment Fund Historical Report 
                   B.  Fiscal Year-to-Date Financial Report 
                   C.  Donor Database Update 
                   D.  Scholarships/Grants Report 
                   E.  Monthly Unaudited Financial Reports (NEW) 
                
           V.      Other Business 
                    
           VI.     Adjournment 
            
            
            
            
            
           Agenda and materials are available at: 
           https://www.oxnardcollege.edu/college-information/foundation/foundation-calendar.  
                          Finance Committee – Special Meeting 
                                                                       DRAFT
                             Agenda for Tuesday, March 15, 2022 
                                   11:30am – 1:00pm PDT 
                                 Lure Fish House (Camarillo) 
        Committee Members 
             Mike Barber, Board President 
             Teresa Elenes-Waisman, Board President Elect 
             Robert Cabral, Finance Committee Chair 
            Alex Nguyen, Finance Committee Member
        Quorum: Yes 
        Subject to Brown Act: Yes 
        1. Call to Order/Roll Call
           1.1  The meeting was called to order at 11:35am PDT by OCF Finance Committee Chair,
               Robert Cabral. A quorum was present. 
        2. Action Items
           2.1  Approval of Agenda
              1. Mike Barber motioned to accept the agenda as presented, Motion was seconded
                by Teresa Elenes-Waisman.
        3. Public Comments
        4. Information/Discussion Items
           3.1  Update on Investment Funds
              1. Tom Derse Portfolio Manager at McMorgan & Company provided a simple
                performance update on the Foundation’s investment funds, currently managed by
                McMorgan & Company.
           Oxnard College Foundation (EIN 77-0003378) is a 501c3 non-profit organization which supports Oxnard College. 
                    4000 South Rose Avenue, Oxnard, CA 93030 – www.OxnardCollegeFoundation.org 
                              2. Tom shared that McMorgan charges 50 basis points (.05%), which is one-half the
                                    standard rate, for the management of the funds.
                              3. Tom noted that the investment position turnover this year is under 20%.
                              4. Tom identified current issues facing fund management as market volatility, rising
                                    interest rates, inflation, and world issues.
                        3.2  Draft Review of Scholarship Endowment Fund Agreement 
                              1. Pete Parker, Foundation Executive Director, presented a draft version of a
                                    Scholarship Endowment Fund Agreement, an instrument (if approved), will be
                                    utilized when establishing future endowment funds.
                        3.3  Draft Review of Named Endowment Distribution Policy 
                              1. Pete presented a draft version of a Named Endowment Distribution Policy,
                                    stipulating allocations from the corpus of future named endowment funds for
                                    programs or scholarships, as determined in the Scholarship Endowment Fund
                                    Agreement.
                        3.4  Review of Investment Policy 
                              1. Pete presented a fresh copy of the Statement of Investment Objectives and Policy
                                    for committee review.
                        3.5  Executive Director Report 
                              1. Pete presented an Executive Director Report on tasks and updates relating to the
                                    Finance Committee.
                              2. Pete provided a progress report for the possible creation of a stand-alone Oxnard
                                    College Foundation website.
                                        i.   Mike Barber Motioned to approve the expenditure of funds to create a stand-
                                             alone website for the Oxnard College Foundation with full approval at the
                                             March 28, 2022 full Board meeting. Motion was seconded by Teresa Elenes-
                                             Waisman.
                         Oxnard College Foundation (EIN 77-0003378) is a 501c3 non-profit organization which supports Oxnard College. 
                                             4000 South Rose Avenue, Oxnard, CA 93030 – www.OxnardCollegeFoundation.org 
              3. Pete informed the committee of potential donations, as well as possible funding
                requests.
        5. Good of the Order
        6. Future Agenda Topics
        7. Adjournment
              1. The meeting was adjourned by Robert Cabral at 12:57pm PDT.
         Approved at March 2022 full OCF Board meeting.
           Oxnard College Foundation (EIN 77-0003378) is a 501c3 non-profit organization which supports Oxnard College. 
                    4000 South Rose Avenue, Oxnard, CA 93030 – www.OxnardCollegeFoundation.org