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HomeMy WebLinkAboutMINUTES - 07111989 - IO.3 ..s----L.:o I.O. 3 TO. Board of Supervisors FROM: INTERNAL OPERATIONS COMMITTEE a s me ; DATE: June 26, 1989 Y o - SpA_cou SUBJECT: APPOINTMENT TO THE RETIREMENT BOARD Specific Request(s) or Recommendations(s) & Background & Justification RECOMMENDATIONS: 1. Appoint to the Retirement Board for a term expiring June 30, 1992: Donald A. Boltz 25 Julianne Court Walnut Creek, CA 94595 2. Create a position entitled Retirement Board Member-Emeritus as a non-paid, non-voting advisory adjunct to the Retirement Board and invite Mr. Robert L. Augenthaler to accept appointment as the Retirement Board Member-Emeritus with the right to attend all public meetings of the Retirement Board and provide such counsel and advice as he may wish to share with the Retirement Board from time to time. 3. Remove this item as a referral to our Committee. BACKGROUND: The Retirement Board consists of nine members, four of.whom are elected by members of the retirement association and four of whom are appointed by the Board of Supervisors. The Treasurer- Tax Collector serves ex officio as the ninth member. The term of one of the Board's appointments expires June 30, 1989. The terms of the other three members expire June 30, 1990. On March 21., Continued on attachment: YES Signature: Recommendation of County Administrator Recommendation of Board Committee Apprv_e�y��,�� Other: Signature(s) O`1` M POWE SUNNE WRIGHT MC PEAK Action of Bo rd on: July 11, 1989 Approved as Recommended x Other Vote of Supervisors I HEREBY CERTIFY THAT THIS IS A TRUE AND CORRECT COPY OF AN ACTION TAKEN x Unanimous (Absent — ) AND ENTERED ON THE MINUTES OF THE Ayes: Noes: BOARD OF SUPERVISORS ON DATE SHOWN. Absent: Abstain: Attested & /i /989 cc: County Administrator Phff BaYchelor, Clerk of the Board Retirement Administrator Donald A.Boltz of Supervisors and County Administrator Robert L.Augenthaler �/ Auditor-Controller By �L,✓ Deputy Clerk 1989 the Board of Supervisors asked our Committee to advertise for applicants for the seat whose term is expiring in 1989, to interview the applicants and return a recommendation to the Board of Supervisors. The Board of Supervisors received 21 applications for the seat whose term expires in 1989. On June 26, 1989 the Internal Operations Committee interviewed 16 of the 21 applicants. The others either did not appear for their interview or withdrew prior to the interviews. We were extraordinarily pleased with the overall quality of the experience, background and knowledge of all the applicants. We have asked the County Administrator's office,to indicate to several of the applicants that we were so impressed with them that we hope they can be consid- ered for appointment to the Retirement Board next year. The sheer talent of the applicants made our job extremely difficult. However, after interviewing all of the applicants and carefully considering their resumes we are recommending the appoint- ment of Mr. Boltz, whose application and resume are attached to this report. We recognize the many contributions that Mr. Robert Augenthaler has made to the Retirement Association over the years that he has served on the Retirement Board. We do not want to lose the years of wisdom, knowledge and commitment that Mr. Augenthaler has shared so freely with the County over the years. We are, therefore, recommending that Mr. Augenthaler be invited to serve as Retirement Board Member-Emeritus, so that he can continue to attend Retire- ment Board meetings and share with the Retirement Board the advice and knowledge he has gained over his years of with the Retirement Association. CLVM io-3bo - 2 - CONTRA COSTA COUNTY ADVISORY BOARDS, COMMISSIONS OR COMMITTEES APPLICATION FORM Name of advisory board applying for CeAWRA 4e.STA &Vr—y AV~0 X.1 - Rereea ZVE &on ee Application Form must be typed or hand printed. Name of Applicant: Donald A. Boltz Home Address: 25 Julianne Ct. Home Phone: 932-1328 Walnut Creek, CA 94595 Business Address: Work Phone: Signature: aa� Date: May 24, 1989 Personal Experience, Skills and Interests Education/Background: attached is a summary of my education, background, and the duties of my last position with Pacific Bell before taking advantage of Bell' s early retirement program on 1/1/88. Occupation (student, for pay work, not for pay work, retiree or similar): Retired Assistant Treasurer, Pacific Bell. Community Activities: - Treasurer, Trinity Lutheran, Walnut Creek - Investment Committee, California-Nevada-Hawaii District, Lutheran Church Missouri Synod Special Interests: Volunteer work, managing investments, reading, studying- auditing university courses, travel. Information: 1. File completed application with Clerk of the Board, 651 Pine Street, Room 106, Martinez, CA 94553. 2. Members of some advisory bodies may be required to file annual Conflict of Interest Statements. 3. Meetings of advisory bodies may be held in Martinez or in areas not accessible by public transportation. 4. Meetings may be held either in the evenings or during the day, usually once or twice a month. 5. Some boards assign members to subcommittees or work groups requiring additional time. + Following is a brief summary of ry educational background and work experience: I hold a Bachelor of Commercial Science degree in accountan- cy from Benjamin Franklin University, Washington, D.C. , and a Bachelor of Arts degree in mathematical statistics from George Washington University, Washington, D.C. I an a member of the National Corporate Cash Management Association and the National Society of Rate of Return Analysts. I have attended a number of seminars and courses in the fields of management, banking, finance, rate of return and accounting. I am currently the Assistant Treasurer of Pacific Bella I also hold the position of Treasurer for Nevada Bell. These two companies are the operating subsidiaries of Pacific Telesis Group, one of the seven Regional Holding Companies formed as a result of the divestiture of AT&T. My work experience began with the Federal government (Federal Bureau of Investigation, 1945 to 1953 , and Central Intelligence Agency, 1953 to 1954) where I held a variety of accounting, statistical, analytical and investigative positions. In November 1954 , I went to New York City, joining Bell Telephone Laboratories as a member of their nontechnical staff and working in a number of staff assignments, personnel, methods and accounting. In 1957, I transferred to Pacific Telephone and have worked in San Francisco ever since, with the exception- of a 2 year assignment in Sacramento. My duties with Pacific, in the Accounting Department until 1972 and in the Treasury Depart- ment from 1972 to date, have been primarily in accounting and financial assignments. My principal duties involve Treasury operations and related banking relations, financial planning, long-term financing studies, Securities and Exchange Commission compliance and registration work for new issues of securities, credit rating agency liaison, financial research and, analyses, and earnings requirements studies. My position requires frequent contact with financial institutions, investment banking firms, security analysts, credit rating agencies and various governmental agencies. Further, my position requires that I keep abreast of the advances in cash manage- ment, other corporate security issues and the financial markets in general . I .have also testified before state regulatory commissions on earnings requirements. I manage a division of 90 employees, including 25 managers, both line and staff, with Treasury offices in San Francisco and Los Angeles. My organization manages all of the bank accounts for Pacific Bell throughout California and negotiates contracts for all banking services. We have reduced the size of our force considerably and consolidated offices since divestiture, but my annual expense budget still exceeds $9 million. l�//l6, rF s�/ �r�.. /.� a�ns� pr,i;ak� �✓� (L��HJAr Wit? 25 Julianne Ct. Walnut Creek, CA 94595 May 24, 1989 Board of Supervisors 651 Pine Street Martinez, CA 94553 I am submitting, for your consideration, the attached application for membership on the Contra Costa County Employees ' Retirement Board. I have been interested in finding an area of community work where I could make a significant contribution, and feel that this opening is one which would fulfill that objective . I feel that I am well qualified for serving on this Board for the following reasons: 1) Educational background - University degrees in the fields of accountancy and mathematical statistics= in addition, I have attended numerous post-graduate courses and seminars on investments, banking, finance , rate of return, taxes and accounting. 2) Work experience - Many years of experience in both government and industry in responsible positions of management, in the fields of accounting, personnel, computers, budgets, finance and treasury, as well as keeping abreast of the financial markets. Specific experience in pension fund administration, which involved monitoring the multi-billion dollar pension fund for the telephone company, which included liaison with the investment managers, advisors and trustees, supervising the associated analytical and reports work, arranging and reporting on performance review meetings with the portfolio managers, and participating in recommendations relative to asset allocation and selection of managers. 3) A long-time resident of the County - since 1957, taking the concerns of the County to heart, and sympathetic to the needs of the County employees, including the maintenance of a strong and sound pension system. 4) Strong background for making a contribution to the team effort, and at the same time with absolutely no conflict-of-interest problems, having no personal ties with investment firms or advisors or with Contra Costa County. There is no conceivable way where I could personally benefit financially from the Board' s decision making process. Y I look forward to your favorable consideration of my application and would be happy to discuss my credentials with you in person. Sincerely, Donal A. z