Board adds KeyBank to approved broker list and directs warrants purchases under Act 1098 of 2013

Bob Serrano introduced a request to add KeyBank to the State Board’s approved broker list, saying several sales and trading professionals the treasury previously worked with have moved to KeyBank after industry consolidation. Board members asked where KeyBank is headquartered; a participant replied that it is Cleveland.

A motion to add KeyBank was made, seconded and passed by voice vote; the transcript records ayes but does not include a roll‑call vote or numeric tally.

Separately, the chair moved a routine quarterly directive under which the board directed the treasurer to purchase warrants for the period Jan. 1–Mar. 31, 2024 pursuant to Act 1098 of 2013 to maintain reasonable demand deposits and money market levels for day‑to‑day transactions. That motion was seconded and approved by voice vote. The transcript does not show a roll‑call or detailed vote counts for either motion.

What’s next: Staff will add KeyBank to the approved broker list and proceed with the warrant purchases consistent with Act 1098; any further documentation or execution steps were not detailed in the transcript.