Votes at a glance: State Board of Finance, Nov. 2021 meeting
November 17, 2021 | Arkansas State Treasurer's Office, Arkansas
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The State Board of Finance took several formal actions during its meeting. The following summarizes motions and outcomes recorded in the meeting transcript.
- Adoption of minutes (Aug. 15, 2021): A motion to adopt the minutes was moved (SEG 062) and seconded (SEG 064); the board voted 'aye' with no opposition recorded.
- Acceptance of the Treasury Investment Performance Report: After Treasurer Milligan’s presentation, a motion to accept the report was moved and seconded (SEG 172, SEG 174); the board voted in favor.
- Certificate Deposit Program: The chairman moved that no funds were available for deposit into the State Board of Finance Certificate Deposit Program for the upcoming quarter (SEG 184); the motion was seconded (SEG 187) and the board voted 'aye'.
- Purchase of warrants under Act 1088 of 2013: The chairman moved to direct the treasurer to purchase warrants for the succeeding quarter (Jan. 1–Mar. 31, 2022) pursuant to Act 1088 of 2013 and to keep reasonable working balances in deposit accounts (SEG 194); the motion was seconded (SEG 203) and approved.
- Booked-rate target for Q2 FY2022: The board set a target booked rate of return at 0.70%–0.80% for Q2 FY2022 (motion moved SEG 480, seconded SEG 488) and approved the motion.
- Rules committee resolution on Act 1,004: The board voted to adopt a resolution prepared by the rules committee stating that Act 1,004 did not require new rulemaking and to request removal from the BLR monthly-reporting list (motion moved SEG 723, seconded SEG 732); the board approved the resolution.
- Drug Utilization Evaluation Committee report: The board accepted the DU‑E committee report (motion SEG 1102, second SEG 1106) following a subcommittee meeting summary.
- Chief compliance officer's report: A motion to accept the compliance officer's quarterly report was moved and seconded (SEG 1149, SEG 1152) and approved.
Several other substantive items were presented but not voted on at this meeting, including proposed investment policy revisions and EBD consultant recommendations, which the board deferred for additional review or legislative action.
Notes on vote records: The transcript records voice votes and 'aye' responses but does not provide a roll‑call tally with individual member votes for all motions; where a mover or second was explicitly spoken in the transcript these are noted above. If a named mover or seconder was not explicitly recorded in the transcript, that detail is listed as not specified.
- Adoption of minutes (Aug. 15, 2021): A motion to adopt the minutes was moved (SEG 062) and seconded (SEG 064); the board voted 'aye' with no opposition recorded.
- Acceptance of the Treasury Investment Performance Report: After Treasurer Milligan’s presentation, a motion to accept the report was moved and seconded (SEG 172, SEG 174); the board voted in favor.
- Certificate Deposit Program: The chairman moved that no funds were available for deposit into the State Board of Finance Certificate Deposit Program for the upcoming quarter (SEG 184); the motion was seconded (SEG 187) and the board voted 'aye'.
- Purchase of warrants under Act 1088 of 2013: The chairman moved to direct the treasurer to purchase warrants for the succeeding quarter (Jan. 1–Mar. 31, 2022) pursuant to Act 1088 of 2013 and to keep reasonable working balances in deposit accounts (SEG 194); the motion was seconded (SEG 203) and approved.
- Booked-rate target for Q2 FY2022: The board set a target booked rate of return at 0.70%–0.80% for Q2 FY2022 (motion moved SEG 480, seconded SEG 488) and approved the motion.
- Rules committee resolution on Act 1,004: The board voted to adopt a resolution prepared by the rules committee stating that Act 1,004 did not require new rulemaking and to request removal from the BLR monthly-reporting list (motion moved SEG 723, seconded SEG 732); the board approved the resolution.
- Drug Utilization Evaluation Committee report: The board accepted the DU‑E committee report (motion SEG 1102, second SEG 1106) following a subcommittee meeting summary.
- Chief compliance officer's report: A motion to accept the compliance officer's quarterly report was moved and seconded (SEG 1149, SEG 1152) and approved.
Several other substantive items were presented but not voted on at this meeting, including proposed investment policy revisions and EBD consultant recommendations, which the board deferred for additional review or legislative action.
Notes on vote records: The transcript records voice votes and 'aye' responses but does not provide a roll‑call tally with individual member votes for all motions; where a mover or second was explicitly spoken in the transcript these are noted above. If a named mover or seconder was not explicitly recorded in the transcript, that detail is listed as not specified.
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