2022 CMTA Onsite Program

2022 CMTA Annual Conference

VEA Newport Beach, a Marriott Resort & Spa May 3-6, 2022 | Newport Beach, CA

ONSITE PROGRAM

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ONSITE PROGRAM TUESDAY, MAY 3, 2022 11:00 am – 5:00 pm Registration Opens Riviera Ballroom Foyer 1:00 pm – 4:00 pm First Annual Bank of the West Pickleball Mixer Newport Beach Tennis & Pickleball Club 11 Clubhouse Dr, Newport Beach, CA 92660 Space is limited. Separate registration required.

Be an ACE at the First Annual Bank of the West Pickleball Mixer at The Tennis and Pickleball Club at Newport Beach!

Smash and Flapjack at the country’s largest pickleball court located in between the worldfamous Fashion Island and Pacific Coast Highway! Between matches, feel free to relax at the clubhouse and shop like the stars in the onsite pro shop!

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Separate Registration Required

Pre-Conference Track ONE: CMTA Investment Foundations (8 CMTA Specialized Training Hours) Day One: Cardiff Room 12:00 pm - 1:10 pm Investment Process - Nuts and Bolts Speakers • Vishal Thacker, CIO and Assistant Treasurer, Alameda County Treasurer and Tax Collector • Damien Charlety Investment Officer, City of San Jose CPE: 1 Program Level: Basic Field of Study: Finance Prerequisite: None 1:10 pm - 1:25 pm Break

1:25 pm - 2:15 pm California State Code and LAIF Update Speaker • Jeff Wurm, Assistant Director, Investment Division, California State Treasurer’s Office CPE: 1 Program Level: Intermediate Field of Study: Finance Prerequisite: Two years of treasury, finance, or capital markets education and/or experience 2:15 pm - 2:30 pm Break 2:30 pm - 3:00 pm Investment Policy Overview Speakers • Deborah Higgins, President, Higgins Capital Management, Inc. • John Johnson, Chief Deputy Treasurer, San Bernardino County Learn how California Government Code prescribes the authorized investments available to California public agencies and the importance of your investment policy in guiding your investment program within the legal parameters. Develop a better understanding of an investment policy through what is important to include, while learning to identify common trouble spots.

Learning Objectives • Understand California Code parameters and investment policy importance • Demonstrate investment policy best practices • Illustrate investment policy guidelines specific to your entity CPE: 1 Program Level: Intermediate Field of Study: Specialized Knowledge Prerequisite: Two years of treasury, finance, or capital markets education and/or experience 3:00 pm – 3:15 pm Break 3:15 pm – 5:00 pm Investment Policy Workshop Speakers • Deborah Higgins, President, Higgins Capital Management, Inc.

• John Johnson, Chief Deputy Treasurer, San Bernardino County Learn how to prepare your investment policy for CMTA certification with an exercise in reviewing, grading, and understanding an investment policy “submitted” for Certification.

Learning Objectives • Identify the importance of investment policy structure • Analyze the areas of an investment policy from the perspective of an evaluator in order to score/grade accordingly • Evaluate the results in preparation for the certification of your investment policy CPE: 4 Program Level: Intermediate Field of Study: Specialized Knowledge Prerequisite: Two years of treasury, finance, or capital markets education and/or experience 7:00 pm – 12:00 am Pop-Up Bar (No Host) Marea Canvas 1

WEDNESDAY, MAY 4, 2022 7:30 am – 4:00 pm Registration Riviera Ballroom Foyer 7:30 am – 11:00 am Exhibitor Set Up Grand Pacific Ballroom 7:30 am – 9:00 am Continental Breakfast Near the Cardiff Room and Sunset Rooms foyer 11:00 am – 12:00 pm Exhibit Hall Opens Grand Pacific Ballroom Separate Registration Required

Pre-Conference Track ONE: CMTA Investment Foundations Day Two: Cardiff Room 8:00 am - 9:00 am A Foundational Overview of the Fed and Treasury 4

Speakers • Rick Phillips, President and CIO, FHN Financial Main Street Advisors • Laura Glenn, Director, Investment Advisory Services, Public Trust Advisors Will review the role of the U.S. Treasury and the Fed, the monetary tools of the Fed and the use of these tools throughout history, the current economic and inflationary environment and the effects of recent Fed actions on the markets.

Are You Ready for GASB-87?

9:10 am - 10:25 am Fighting Fraud with Strong Internal Controls

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Speakers • Katherine Yuen Krischl, Partner, Maze & Associates • Bret Black, Principal Treasury Investment Officer, Kern County Treasurer-Tax Collector Did you know that weak internal controls account for over 65% of all fraud cases?

Fraudsters actively look for weak internal control environments to exploit. In this class we will look at developing strong internal controls to reduce fraud. Also, we will look at how remote work environment has changed our idea of internal controls.

Learning Objectives • Learn the five elements of the Internal Control Integrated Framework • Identify internal control deficiencies commonly seen by auditors • Learn how to strengthen internal control in order to minimize opportunities for fraud to occur.

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10:25 am – 10:35 am Break

Mission: Control

10:35 am – 12:00 pm The “There-There” Behind Bitcoin, Blockchain & Crypto

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Speakers • Arry Yu, Chair, WTIA Cascadia Blockchain Council Generalized and misinformation takes important concepts out of context, easily skewing one’s perception of what’s really going on in the world of crypto. Knowing the history of the blockchain, Bitcoin, and crypto will help you build 5

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a foundational mental model to navigate all of the multidisciplinary pieces. This introduction to the space will prepare you to navigate the headlines and trends around crypto and the underlying technologies supporting it.

Learning Objectives • Identify the fundamentals of blockchain, crypto, and the tech behind it • Summarize the history and theory to more effectively evaluate current news • Name best practices and available resources when seeking to stay current on crypto and related trends Separate Registration Required

Pre-Conference Track TWO: Debt Sunset Room

8:00 am - 12:00 pm Basics of Debt Issuance Speakers • Lisa Marie Harris, Director of Finance, San Diego County Water Authority • Jaime Trejo, PFM • Brian Forbath, Stradling Yocca Carlson & Rauth • Tyler Old, JP Morgan Municipal debt has been a tool for public agencies to build infrastructure and capital improvement for over a century. Participants in this program will gain a better understanding of the roles and responsibilities of those involved in each stage of the issuance process. The goal of this program is for attendees to gain a basic understanding of fundamental concepts and who is involved in the process, while equipping them with resources where they can further explore the topics in detail.

Learning Objectives • Understand how a debt issue involves the offering of new bonds or other debt instruments by a creditor in order to borrow capital • Discuss how debt issues are generated • Describe what corporations and governments do with debt issuances CPE: 4 Program Level: Basic Field of Study: Accounting Prerequisite: None

12:00 pm – 1:30 pm Lunch and Business Meeting Grand Pacific Ballroom Keynote Speaker • California State Treasurer Fiona Ma Fiona Ma is California’s 34th State Treasurer.

She was elected on November 6, 2018 with more votes than any other candidate for treasurer in the state’s history. She is the first woman of color and the first woman Certified Public Accountant (CPA) elected to the position. Treasurer Ma has been a licensed CPA in California since 1992 and holds a bachelor’s degree in Accounting from the Rochester Institute of Technology (NY), a master’s degree in Taxation from Golden Gate University (SF), and an MBA from Pepperdine University.

1:30 pm – 1:50 pm Dessert with Exhibitors Grand Pacific Ballroom 1:50 pm – 2:40 pm General Session 1: Economic Overview and Market Outlook Grand Pacific Ballroom Speaker • Craig Dismuke, Chief Economist, Vining Sparks, IBG In this 2022 Economic Outlook presentation, we will look back at the historic events of 2020, discuss where the economy is in its recovery, and look forward to the challenges ahead. We will also discuss the economic policy implications of the 2020 election results. The outlook has improved, although challenges remain.

Learning Objectives • Understand the factors influencing the U.S. economy • Understand the factors driving interest rates.

• Attendees will gain a more informed outlook for interest rates which they can apply to various aspects of their roles in government finance.

CPE: 1 Program Level: Basic Field of Study: Economics Prerequisite: None

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2:40 pm – 3:30 pm General Session 2: Pension Obligation Bonds Are They Right for your Agency?

Grand Pacific Ballroom Speakers • Todd Tauzer, Vice President, Segal • Debby Cherney, Chief Executive Officer, San Bernardino County Employees’ Retirement Association Governments with pension obligations have a fiscal responsibility to fund them but have very little actual control over how those funds and their respective investments perform. Quite often finance directors are simply told what their contributions need to be with no recourse to fund other than to prioritize spending on pensions and/ or raise additional revenues. Pension Obligation Bonds, or POBs, are often discussed as helpful tools that governments use to fund pension contributions to retirement systems. But as often as they’re discussed, they’re also almost as often dismissed as bad policy that supports excessively risky financial decisions.

Retirement systems are complex financial arenas and require complex analysis to fully understand the pros and cons of alternative funding tools.

Come join leading industry experts discuss what you need to hear about POBs. Learning Objectives • Understand the financial context of pension obligation bonds • What are pension obligation bonds? How are these deals structured?

• What do retirement systems do with POB proceeds?

• Understand the risks of issuing pension obligation bonds • Answer any other questions you have!

CPE: 1 Program Level: Intermediate Field of Study: Governmental Accounting Prerequisite: Two years of treasury, finance, or capital markets education and/or experience 3:30 pm – 3:50 pm Break with Exhibitors Grand Pacific Ballroom

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CAPITAL MARKETS Portfolio Strategy Fixed Income Sales & Trading Portfolio Accounting Fixed Income & Market Commentary

MAIN STREET ADVISORS Investment Management Investment Consulting Services Customized Portfolio Reporting California LAIF Analysis Report www.fhnfinancial.com | www.fhnmainstreet.com FHN Financial Capital Markets, FHN Financial Portfolio Advisors, and FHN Financial Municipal Advisors are divisions of First Horizon Bank. FHN Financial Securities Corp., FHN Financial Main Street Advisors, LLC, and FHN Financial Capital Assets Corp. are wholly owned subsidiaries of First Horizon Bank. FHN Financial Securities Corp. is a member of FINRA and SIPC — http://www.sipc.org. FHN Financial, through First Horizon Bank or its affiliates, offers investment products and services. Investment products are not FDIC insured, have no bank guarantee, and may lose value.

J.P. Morgan is proud to support the California Municipal Treasurers Association.

To learn more about J.P. Morgan, contact: Renee Gordon Executive Director, Government Banking (213) 621-8430 renee.gordon@jpmorgan.com

© 2022 Chase, J.P. Morgan, and JPMorgan Chase are marketing names for certain businesses of JPMorgan Chase & Co. and its affiliates and subsidiaries worldwide (collectively, “JPMC”).

3:45 pm – 5:00 pm General Session 3: Infrastructure is the Word of the Day Grand Pacific Ballroom Speaker • Emily Swenson Brock, Director, Federal Liaison Center As a public agency, the funding of infrastructure comes with a myriad of decisions. What projects will be supported by the public? What is the timing of the projects? How will the project be funded?

As finance professionals, how do we engage in the process to understand what options are available for the public agency, manage the cash flow, and ensure that proper financial planning is made to afford these critical projects.

On November 15, President Biden signed into law the Infrastructure Investment & Jobs Act (IIJA).

The bill authorizes $1.2 trillion for transportation and infrastructure spending with $550 billion of that figure going toward “new” investments and programs. The introduction of this bill has certainly created a new buzz on infrastructure projects. While there may be new funds available, is there funding available for your projects? And, does your agency have shovel-ready projects and a finance plan to be able to take advantage of these opportunities? Should you be fortunate to receive funding, do you have a forecast to manage cash while the project is being built until you receive the grant funding?

This session will cover highlights of the IIJA bill and the various funding approaches and cash management considerations to construct the critical infrastructure needs of your agency.

Learning Objectives • Discuss the background of infrastructure needs and legislation • Explain the breakdown of water-related funding • Explain funding authorizations and appropriations.

• Identify the federal, state, and local agencies involved CPE: 1 Program Level: Intermediate Field of Study: Finance Prerequisite: Two years of treasury, finance, or capital markets education and/or experience

5:00 pm – 6:30 pm Wine Down Reception in the Rose Garden Riviera Lawn Looking for something smooth and full? What about sweet and rich? How about crisp and complex? Join CMTA for a selection of wines in the Rose Garden at the VEA Newport Beach, a Marriott Resort & Spa! This event offers CMTA conference attendees an opportunity to network with other municipal treasurers.

7:00 pm – 12:00 am Pop-Up Bar (No Host) Marea Canvas 1

THURSDAY, MAY 5, 2022 8:00 am – 4:00 pm Registration Riviera Ballroom Foyer 8:00 am – 8:25 am American Breakfast Buffet Grand Pacific Ballroom 8:25 am – 9:15 am General Session 4: Geopolitical Update Grand Pacific Ballroom Speakers • Major General (Ret.) James A. “Spider” Marks, Head of Geopolitical Strategy and Academy Securities’ Senior Advisory Board Member • Peter Tchir, Head of Macro Strategy at Academy Securities Major General James A. “Spider” Marks will address and discuss the major geopolitical themes, tensions, and issues driving international policy and creating macro‐economic risk. He will open by discussing the era of great power competition and what we can expect from a new Biden administration. He will examine the continued importance of labeling China a “Strategic Competitor” and how this shift in policy towards a more multinational approach will impact strategies across the main elements of national power; diplomacy, information, military, and economics (DIME). General Marks will also highlight other significant geopolitical issues that may create risk or have policy implications, including current events at the time of the conference. Peter Tchir, Head of Marco Strategy, 8

will give a brief overview of his macro-outlook while contextualizing the geopolitical landscape’s potential impact on the economy and markets.

They will address how Rare Earths, ESG and even cryptocurrency is shaping policy, both creating new challenges but also presenting new opportunities for businesses, investors and local governments. General Marks has deep expertise in the historic and ongoing challenges with North Korea, security issues in the Middle East, and the growing competition and opportunity for partnership in the South China Sea. General Marks is a charismatic and dynamic speaker. Questions from the audience and suggestions on topics of interest are highly encouraged.

Learning Objectives • Identify how China being labeled as a strategic competitor to the US will impact strategies across the main elements of national power • Compare and contrast how the Biden administration’s foreign policies may differ from the previous administration.

• Identify current geopolitical risks and how our relationships with our allies, adversaries and partners may evolve.

CPE: 1 Program Level: Intermediate Field of Study: Economics Prerequisite: Two years of treasury, finance, or capital markets education and/or experience 9:20 am – 11:45 am Breakout Sessions

BREAKOUT: INVESTMENTS

Cardiff Room

9:25 am – 10:25 am The Math Behind Callables. Buyer And Seller.

Relative Value. Are They Worth It? Speaker • Kevin Webb A callable bond, also known as a redeemable bond, is a bond that the issuer may redeem before it reaches the stated maturity date. A callable bond allows the issuing company to pay off their debt early. A business may choose to call their bond if market interest rates move lower, which will allow them to re-borrow at a more beneficial 9

rate. Callable bonds thus compensate investors for that potentiality as they typically offer a more attractive interest rate or coupon rate due to their callable nature. There are advantages and disadvantages to this kind of bond, so we ask: are they worth it?

Learning Objectives • Define a callable bond in debt security • Discuss how this bond allows companies to pay off their debt early and benefit from favorable interest rate drops.

• Discuss the advantages and disadvantages of callable bonds to investors and issuers.

CPE: 1 Program Level: Intermediate Field of Study: Finance Prerequisite: Two years of treasury, finance, or capital markets education and/or experience 10:25 am – 10:45 am Break with Exhibitors Grand Pacific Ballroom 10:45 am – 11:45 am Duration Optimization Speaker • Jason Klinghoffer, Director, Mischler Financial Group, Inc. Creating an appropriate strategy for investing can be a daunting task, especially when several schools of thought exist on how to approach it. In this session we will make the case that, in reality, your strategy must center around the timing and magnitude of cash flows before the economics of the portfolio can be considered. Because you are safety and liquidity driven, we must use a method that first looks in the mirror and makes sense of the asset/liability (ALM) framework your institution faces. We will discuss the idea behind focusing on cash flows and utilizing immunization and cash flow matching techniques to optimize portfolio duration, assign approximate maturity buckets and use risk/reward techniques to apply sector allocations.

Learning Objectives • Learn the five points of suitability that define a good investment strategy.

• Understand how speculation actually hurts the investment process and often leads to negative outcomes.

• Review the anatomy of duration, why we use it and the different methods we can use to define it for your portfolio • Understand the three core building blocks of investment strategy creation that every portfolio should tackle at some level CPE: 1 Program Level: Intermediate Field of Study: Finance Prerequisite: Two years of treasury, finance, or capital markets education and/or experience

BREAKOUT: TREASURY MANAGEMENT

Salon 4-5

9:25 am – 10:25 am Jump on Board the Digital Train - Strategies to Survive the Modern Payments World Speaker • John D. Melvin, CTP, Vice President, Working Capital Consultant, U.S. Bank Global Treasury Management, U.S. Bank • Kim Sao, Administrative Director, City of Paramount Moderator • Monique Spyke, Managing Director, PFM Asset Management LLC Digital transformation of business processes accelerated this past year. Let’s discuss what you, your banks, and ERP, TMS and Fintech technology partners are doing to help drive that transformation in your processes. We will review the challenges of payables automation around the procure-to-pay lifecycle. What’s the value of engaging with these partners that have a real pulse on what is going on in the marketplace with respect to payments, technologies, and optimization strategy?

Learning Objectives • Discover how a payments digitization strategy can optimize payment flows, as well as how to socialize the initiative internally • Explore changes to payment processes and methodologies which may enhance operational processes and better meet the expectations of customers, vendors, and internal stakeholders

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• Discuss with presenters the challenges organizations may face while executing on their optimization objectives and implementing new electronic payment solutions.

CPE: 1 Program Level: Intermediate Field of Study: Information Technology Prerequisite: Two years of treasury, finance, or capital markets education and/or experience 10:25 am – 10:45 am Break with Exhibitors Grand Pacific Ballroom 10:45 am – 11:45 am FFCB Discussion on Social & Environmental Impact Speaker • Regina Gill, Senior Vice President, Investor Relations, Farm Credit • Allison Paap, Vice President – Lending Manager, American AgCredit The Federal and Farm Credit Banks was developed in 1916 to support rural communities and agriculture with reliable, consistent credit and financial services. The Funding Corporation is an integral part of the Farm Credit System, a U.S. Government-Sponsored Enterprise and a leading provider of loans, leases and services that support rural communities and U.S. agriculture. This session will look at the social and environmental impact of FFCB’s critical mission.

California Infrastructure and Economic Development Bank

Learning Objectives • Understand the Farm Credit System and its mission • Discuss the roles of the Farm Credit Administration, Farm Credit Council, and Farm Credit System Insurance Corporation.

• Understand the fiscal activity of the FFCB CPE: 1.5 Program Level: Intermediate Field of Study: Finance Prerequisite: Two years of treasury, finance, or capital markets education and/or experience

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Director Fixed Income Sales 415 616-1681 jane.fielding@psc.com

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BREAKOUT: DEBT

Salon 1-3

9:25 am – 10:25 am Know Your Options: Pension Funding Strategies Speaker • Ellen Clark, Director and Multi-Asset Class Strategist,PFM Asset Management • Jim Link, Managing Director, PFM Asset Management • André Douzdjian, Chief Investment Officer, San Diego Association of Governments (SANDAG)

10:25 am – 10:45 am Break with Exhibitors Grand Pacific Ballroom 10:45 am – 11:45 am Rating Panel Discussion Speakers • Audra Dickinson, Fitch Ratings • Jenny Poree, Senior Director and Sector Lead, S&P Global • Cindy Wu, Senior Director, Public Finance, Kroll Bond Rating Agency

This session will focus on highlighting investment strategies allowed by California Government Code for longer term liabilities, including other post-employment benefits (OPEB) and unfunded pension liabilities such as CalPERS. Our panel will explore the different options available to public entities to manage these liabilities. Our discussion will examine approaches to funding these liabilities, uses of a Section 115 Trust, and how to balance reducing the unfunded liability while managing the budgetary impact of increasing contributions. This will include potential sources for funding, such as pension or OPEB bonds, asset sales, or dedicated tax or budget sources. When establishing a Section 115 Trust, we will talk about different investment alternatives, definitions of risk, the role of inflation in diminishing purchasing power, and how diversification using multiple asset classes may help achieve long-term objectives.

As an agency prepares for the public sale of bonds, one of the important milestones is to engage with one or more rating agency to share financial information, the plan of finance, and other critical information. Rating agencies each inquire about critical and sensitive information to ensure that the public and investors understands the financial viability of the agency. The panel of the rating agency representatives will be available to answer questions on how to be ready for the rating presentations, current hot topics, and their view on rating criteria.

Learning Objectives • List at least two investment strategies allowed

by Code • Recognize and discuss potential sources of assets to fund liabilities • Identify and apply approaches to reducing unfunded liabilities while managing budgetary impacts

12:00 pm – 1:30 pm Lunch and Keynote Speaker Grand Pacific Ballroom

CPE: 1 Program Level: Intermediate Field of Study: Governmental Accounting Prerequisite: Two years of treasury, finance, or capital markets education and/or experience

Learning Objectives • Understand public bond sales • Identify various rating agencies CPE: 1 Program Level: Basic Field of Study: Governmental Accounting Prerequisite: None

Keynote Speaker • Captain Wendy Lawrence Captain Wendy Lawrence is a former NASA astronaut who has logged over 1225 hours in space as a mission specialist and was a veteran of four space flights. A retired United States Navy Captain, Lawrence was a helicopter pilot with more than 1,500 hours of flight time in six different types of helicopters and made more than 800 shipboard landings. She is the first female graduate of the United States Naval Academy to fly into space after being selected by NASA in March 1992. While an astronaut, she visited the 12

Russian Space Station Mir and was a mission specialist on STS-114, the first Space Shuttle flight after the Space Shuttle Columbia disaster.

Captain Lawrence received a Bachelor of Science degree in ocean engineering from the U.S. Naval Academy in 1981. She also received a Master of Science degree in ocean engineering from Massachusetts Institute of Technology (MIT) and the Woods Hole Oceanographic Institution (WHOI) in 1988. She was awarded the Defense Superior Service Medal, the Defense Meritorious Service Medal, and the NASA Space Flight Medal.

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1:30 pm – 2:00 pm Dessert with Exhibitors Grand Pacific Ballroom 2:00 pm – 3:00 pm General Session 5: Effective Communication of Your Agency’s Investment Results and Financials to Stakeholders Grand Pacific Ballroom Speakers • Carlos Oblites, Senior Portfolio Strategist, Chandler • Lauren Warrem, Chief Deputy Treasurer, San Diego County

Paul Rehmus (800) 967-4513 prehmus@mbssecurities.com www.mbssecurities.com

Presenting timely financial information in a clear and concise format is critical for communicating with internal staff and external stakeholders such as constituents, city councils, other governing bodies, and investors.

Learning Objectives • Create a high-quality annual report • Develop effective investor presentations • Conduct an informative earnings conference call CPE: 1 Program Level: Intermediate Field of Study: Regulatory Ethics Prerequisite: Two years of treasury, finance, or capital markets education and/or experience 3:15 pm – 5:30 pm Breakout Sessions

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BREAKOUT: INVESTMENTS

Cardiff Room

3:15 pm – 4:15 pm Moving on from Ultra Easy Monetary Policy Speaker • Justin Lederer, Managing Director – Trader/ Interest-Rate Strategist, Cantor Fitzgerald & Co. The Fed and major Central Banks quickly provided enormous accommodation in the early days of Covid. As Global Central Banks are reversing course, how can investors navigate implications to the yield curve, market liquidity, and monetary policy going forward?

Learning Objectives • Identify the impacts of the Fed’s balance sheet on rates and short-term investments • Describe the implications of Fed and Global Central Bank actions in an increasingly interconnected world • Recognize the potential effects of inflation on interest rates across the curve CPE: 1 Program Level: Intermediate Field of Study: Finance Prerequisite: Two years of treasury, finance, or capital markets education and/or experience 4:15 pm – 4:30 pm Break with Exhibitors Grand Pacific Ballroom 4:30 pm – 5:30 pm Analyzing and Managing Credit Exposure Speakers • Raymond Johnson, Bloomberg Fixed Income Market Specialist • Parth Bhat, Chief Investment Officer County of San Bernardino Credit Assessment: Ratings and Default Risks Financial Analysis: Leverage and Interest Coverage Ratios. Portfolio Stratifications and Monitoring Sector Exposures. Screening for Suitable Bonds (Price Discovery). Evaluating Relative Value of Bonds offerings in the Market.

Quantifying Returns Benefits of Credit Exposure

Learning Objectives • Understanding Rating Agencies Terminology: Scales, Watchlist and Outlook • Identify and evaluate the most common Financial Ratios used to monitor a company’s credit health • Assess the Relative Value of Corporate Bonds across ratings, sectors and maturity dates CPE: 1 Program Level: Basic Field of Study: Finance Prerequisite: None

BREAKOUT: TREASURY MANAGEMENT

Salon 4-5

3:15 pm –4:15 pm ESG Overview in the Corporate & Municipal Sectors Speaker • Eli Lapp, Managing Director, Raymond James This session will cover the evolution of ESG trends in the corporate bond sector and touch on tangible ways to implement an ESG framework into your investment portfolio management. The session will also cover the increasing focus on ESG in the municipal space, issuer implications, supply/demand, and implementation into a municipal bond portfolio.

Learning Objectives • Understand the congregation of customers in new ecosystems and marketplaces • Discuss ESG Activism • Discuss the standardization of ESG accounting CPE: 1 Program Level: Basic Field of Study: Behavioral Ethics Prerequisite: None 4:15 pm – 4:30 pm Break with Exhibitors Grand Pacific Ballroom

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4:30 pm – 5:30 pm Incorporating SRI/ESG into your Investment Process Speaker • TBD ESG stands for Environmental, Social, and Governance. ESG investing grew out of investment philosophies such as Socially Responsible Investing (SRI), but there are key differences. Earlier models typically use value judgments and negative screening to decide which companies to invest in. ESG investing and analysis, on the other hand, looks at finding value in companies—not just at supporting a set of values. Investors are increasingly applying these non-financial factors as part of their analysis process to identify material risks and growth opportunities. As ESG investing accelerates in demand, several key trends are emerging – from climate change to social unrest. The coronavirus pandemic, in particular, has intensified discussions about the interconnectedness of sustainability and the financial system.

Learning Objectives • Describe the ESG factors of investments • Describe ESG investment metrics • Define the difference between ESG and SRI investment processes

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Ali.Selby@StoneX.com Managing Director - Head of Agency Debt Sales Sam.Buttine@StoneX.com Director - Institutional Fixed Income Sales www.StoneX.com - New York, NY

CPE: 1 Program Level: Basic Field of Study: Behavioral Ethics Prerequisite: None

BREAKOUT: DEBT

Salon 1-3

3:15 pm –4:15 pm Credit Solicitation Speakers • Colin Bettis, County Debt Officer, Sacramento County • Sarah Hollenbeck, PFM This session will cover key considerations and best practices relating to various forms of credit solicitations including direct placements, letters of credit, and revolving lines of credit, as well as bond insurance. The panel will explore the characteristics these products, how and when 15

Jodi Pieczynski, Senior Vice President–Wealth Management Steve Rutledge, Senior Vice President–Wealth Management June Nelson, Senior Registered Client Service Associate Sacramento Regional Institutional Sales Group 1610 Arden Way, Suite 200, Sacramento, CA 95815 800-354-3895

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they are typically used, and how to approach solicitation to enhance both participation in the process and the ultimate outcome for the borrower. Attendees will learn what to expect in a credit solicitation and subsequent negotiation with the credit provider, who the involved parties are, and how to avoid common pitfalls that can create obstacles to a successful process.

CPE: 1 Program Level: Intermediate Field of Study: Finance Prerequisite: Two years of treasury, finance, or capital markets education and/or experience 4:15 pm – 4:30 pm Break with Exhibitors Grand Pacific Ballroom 4:30 pm – 5:30 pm GFOA Best Practices Around ESG and Voluntary Disclosure Speaker • Tim Ewell, Chief Assistant County Administrator, County of Contra Costa Over the past year, the Government Finance Officers Association (GFOA) has release a number of best practices that cover ESG (Environmental, Social, Governance) and Voluntary Disclosure to prepare issuers for the discussion around these topics. While these best practices may be new, they do highlight areas that many public agencies are already practicing.

Learn from session speakers about what the GFOA best practices state Learning Objectives • Understand the best practices for voluntary disclosures and ESG • Design organizational structure • Collect and verify data to measure metrics CPE: 1 Program Level: Basic Field of Study: Behavioral Ethics Prerequisite: None 6:00 pm – 7:30 pm La Fiesta de Los Tesoreros!

Seaview Terrace

music, lawn games, food, and dancing with members of our profession on the Seaview Terrace. You can also enjoy meeting our special guests: two llamas that you will able to meet, greet, and take pictures with during our evening festivities! We can’t wait to see you there!

4:30 pm – 6:00 pm Exhibitors Tear Down Grand Pacific Ballroom

FRIDAY, MAY 6, 2022 8:00 am – 9:15 am Full American Breakfast Buffet Grand Pacific Ballroom 9:15 am – 10:15 am General Session 6: Succession Planning – Much More Than Just Planning Grand Pacific Ballroom Speakers • Matt Jennings, Treasurer-Tax Collector, Riverside County • Brenda Diederichs Human Resources Director, Riverside County In today’s world, being fortunate to have such a diverse, multi-generational workforce, succession planning has become much more evolved and complex. The present nuances and challenges of retention and recruitment create a breeding ground for new approaches and problem solving.

This panel discussion provides HR professional guidance as well as current organizational strategies, to facilitate success as we navigate future obstacles in staffing and leadership.

Learning Objectives • Align Succession Planning with Business Goals and Values • Establish a Culture of Transparency • Establish Leadership Accountability CPE: 1 Program Level: Intermediate Field of Study: Business Management and Organization Prerequisite: Two years of treasury, finance, or capital markets education and/or experience

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Join CMTA for an evening of beautiful Spanish 16

10:15 am – 10:30 am Break and Opportunity to Check Out 10:30 am – 12:00 pm General Session 7: Treasurers’ Panel - Peer to Peer - Unscripted!

Grand Pacific Ballroom Speakers • Moderator: Susan Munson, Managing Director, Cantor Fitzgerald & Co. • José Cisneros, Treasurer/Tax Collector, City and County of San Francisco • Dolores Sarenana, CCMT, Assistant Treasurer/ Tax Collector, Stanislaus County Treasurer/Tax Collector • Brigitte Elke, Finance Director, City of San Luis Obispo District The duties performed by treasury professionals across the State are as diverse as the individuals responsible for doing them. Still, no matter your role, your duty as a steward of public funds is paramount. Join us for a behind the scene look at the economic challenges and financial concerns facing both elected and appointed treasurers and treasury professionals today.

Learning Objectives • Identify the most pressing challenges currently facing treasury managers • Compare and contrast the process of developing cash and investment management strategies based on your entity’s size, goals, and available tools • Name the techniques experienced practitioners use to increase productivity while optimizing internal resources CPE: 1.8 Program Level: Intermediate Field of Study: Personal Development Prerequisite: Two years of treasury, finance, or capital markets education and/or experience 12:00 pm Conference Adjourns

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We measure our success by your success Ray Juman, rayad.juman@wellsfargo.com Kristen Trivison, kristen.m.trivison@wellsfargo.com © 2022 Wells Fargo & Company. All rights reserved. 7268344

COMPLAINT RESOLUTION POLICY CMTA will make every effort to provide the best educational programs possible. In the event participants are not completely satisfied with the program and wish to file a complaint, please contact Dominique Mask at (916) 231-2144 or dmask@cmta. org within 10 business days of the event. For more information regarding administrative policies such as complaints, please contact Dominique Mask at (916) 231-2144 or dmask@cmta.org.

WORKING TOGETHER TO HELP BUILD STRONGER COMMUNITIES

COURSE ATTENDANCE POLICY All sessions have been developed in accordance with the National Association of State Boards of Accountancy (NASBA) standards. CMTA is a registered sponsor of continuing professional education for the Group Internet Delivery Method; however, CMTA’s application for Group Live Delivery Method is pending approval.

At Bank of the West, we’re well versed in the unique needs of government and municipal agencies. To help you make a difference in the communities you serve, our skilled banking team can help identify effective cash management and investment1 solutions that align with your needs. Let’s get down to business.

To learn more, call 866-588-1358 or visit bankofthewest.com/commercial-banking

chandlerasset.com 800-317-4747

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Non-deposit products are not insured by the Federal Deposit Insurance Corporation (FDIC); are not deposits or other obligations of the financial institution and are not guaranteed by the financial institution; and are subject to market fluctuations or investment risks, including possible loss of value and/or loss of the principal invested.

Certain investment-based products may be offered through BNP Paribas Securities Corp. Bank of the West is not a registered Municipal Advisor or Investment Advisor. This communication is not investment advice or a recommendation to make an investment or enter into any transaction.

Member FDIC. Equal Housing Lender. © 2019 Bank of the West.

Doing business in South Dakota as Bank of the West California.

Chandler is proud to be a Gold sponsor of CMTA for 2022 Optimize Your Portfolio for Safety, Liquidity, and Return SCHEDULE MY CONSULTATION

Economic factors, market conditions and investment strategies will affect the performance of any portfolio and there are no assurances that they will match or outperform a given benchmark.

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SAVE THE DATE!

CMTA The 2023

ANNUAL CONFERENCE

FOR ALL TREASURY

FLAVORS DEBT

OF

FINANCE INVESTMENTS

MARRIOTT SAN MATEO • SAN FRANCISCO AIRPORT • APRIL 26-28, 2023

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