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State Government Finance Division

FOURTEENTH MEETING

2009-2010 Regular Session - March 10, 2009

STATE OF MINNESOTA FOURTEENTH MEETING
HOUSE OF REPRESENTATIVES EIGHTY-SIXTH SESSION

STATE GOVERNMENT FINANCE DIVISION

MINUTES


Representative Kahn, Chair of the Division, called the meeting to order at 2:52 P.M. on March 10, 2009 in Room 5 of the State Office Building.

The Committee Legislative Assistant noted the roll.

Members present:

KAHN, Phyllis, Chair
WINKLER, Ryan, Vice-Chair
BIGHAM, Karla
DOWNEY, Keith
HOLBERG, Mary Liz
KALIN, Jeremy
KATH, Kory
KIFFMEYER, Mary
KOENEN, Lyle
MASIN, Sandra
POPPE, Jeanne
SANDERS, Tim
SIMON, Steve

Members excused:

PEPPIN, Joyce, Lead Republican


A quorum was present.

Representative Winkler moved that the minutes of March 5, 2009 be adopted. THE MOTION PREVAILED.

Chairman Jeff Bailey, Investment Advisory Council and Executive Director Howard Bicker, State Board of Investment, presented an overview of how Minnesota invests.

Consultant Mike Stolte, Asset Allocation Incorporated, gave a presentation on how to stop the leaks in the investment management process.

State Auditor Rebecca Otto responded to issues raised in Mr. Stolte’s presentation.

The meeting was adjourned at 4:29 P.M.


____________________________________________
Representative Phyllis Kahn, Chair




____________________________________________
Krysta Niedernhofer, Committee Legislative Assistant
More Info On This Meeting..

A discussion of how Minnesota invests money.