ONSITE PROGRAM*
*Program is subject to change.
TUESDAY, APRIL 22, 2025
11:00 AM – 5:00 PM | Regency Foyer Registration Open
1:00 PM – 5:00 PM | Regency 1-3
Sponsor/Exhibitor Set up in the Exhibit Hall
1:00 PM – 3:00 PM | Regency 4/5
TRACK 1 – Pre-Conference Session 1: Treasury Fundamentals & CCMT Specialized Training –Investment Program Foundation and Process
Developing a successful investment program for a public agency will look different from one agency to the next. Still, there are fundamental requirements common to any investment program regardless of the size and complexity. In the session, successful learners will be equipped with the tools needed to customize an investment program suited to meet your agency’s unique needs.
Learning Objectives:
• Identify best practices for acquiring information and resources for the development of an investment program aligned with the needs of the agency
• Compare and contrast benefits of the various investments allowable under California State Code including, money funds, investment pools, separate account management and direct investing
• Name the key considerations for the ongoing oversight and fiduciary responsibility of local government boards, elected officials, and investment officers
Speakers:
• Jamie Murguia, Finance Manager, City of Artesia
• Karen Coleman, Treasurer-Tax Collector, El Dorado County
• Susan Munson, Managing Director, Academy Securities
• Vishal Thacker, Assistant Treasurer and CIO, Alameda County
CPEs: 2.0
Program Level: Intermediate
Field of Study: Accounting (Governmental)
Prerequisite: Two years of treasury, finance, or capital markets education and/or experience
Advanced Preparation: None
Delivery Method: Group Live
3:00 PM – 3:15 PM | Regency 1-3
Break
3:15 PM – 5:00 PM | Regency 4/5
TRACK 1 – Pre-Conference Session 2: Treasury Fundamentals & CCMT Specialized Training –Financial Risk Management and Internal Controls
Operational disruption, reputational damage, lost revenue, and stolen intellectual properties are just a few examples of the significant impact fraud and cybercrimes have on an organization. With rapidly changing environment, finance officials need to stay up to date on the most current threats and take an active role in safeguarding their organizations. Join us at this interactive session where we will learn through real life examples what actions finance officers can take to help improve the security of their organizations.
Learning Objectives:
• Identify best practices for acquiring information and resources needed to implement a robust system of internal controls and risk management
• Develop a framework to effectively mitigate risks due to fraud and/or cybercrime
• Define the key elements of a holistic approach for enterprise risk management
Speakers:
• Brandon Marquez, County Investment Officer, Santa Cruz County
• Katherine Yuen Krisch, CEO, Krisch & Company
• Susan Munson, Managing Director, Academy Securities
CPEs: 2.0
Program Level: Intermediate Field of Study: Business Management
Prerequisite: Two years of treasury, finance, or capital markets education and/or experience
Advanced Preparation: None
Delivery Method: Group Live
WEDNESDAY, APRIL 23
7:30 AM – 5:00 PM | Regency Foyer Registration Open
7:30 AM – 8:00 AM | Regency Main Continental Breakfast for Pre-Conference Sessions (attendees only)
8:00 AM – 9:30 AM | Regency 4/5
TRACK 1 – Pre-Conference Session 3: Treasury Fundamentals & CCMT Specialized Training –Investment Accounting 101
In this interactive session we will review the different methods of Investment Accounting and their impact on Investment Strategies and Reporting. Using real life examples, we will outline the journal entries of each
methodology, learn how different types of bonds pay interest, and discuss the implications to investment strategy – all with the goal of aligning with the primary objectives of safety and liquidity, while achieving a market rate of return.
Learning Objectives:
• Understand the difference between Cash Basis, Accrual Basis, and Modified Accrual Basis
• Determine what basis of accounting is best for your entity
• Understand how bonds pay and reporting yield
• Evaluate General ledger entries for each accounting method for investments
• Identify ways in which investment accounting impacts the decision-making process when developing strategy
Speakers:
• Greg Balls, Director – Advisory Services, Director, Meeder Asset Management
• Tonya Dazzio, Director – Advisory Services, Meeder Asset Management
CPEs: 1.8
Program Level: Intermediate Field of Study: Accounting (Governmental)
Prerequisite: Two years of treasury, finance, or capital markets education and/or experience
Advanced Preparation: None
Delivery Method: Group Live
8:00 AM – 9:30 AM | Regency 6
TRACK 2 – Pre-Conference Session 1, Part 1: How the Muni Bond Sausage is Made: A Deep Dive into Rating Methodologies, Bond Market Dynamics, and Bond Pricing
Now that you’ve mastered foundational municipal debt topics, take a deeper dive into what criteria rating agencies evaluate in rating California Lease Revenue Bonds and Enterprise Revenue Bonds, which market factors and data most influence municipal bond yields and prices, and what strategies are used for pricing and selling municipal bonds. This session will include a case study from the City of Goleta that recently issued Lease Revenue Bonds and Local Transportation Sales Tax Revenue Bonds on the same day.
Learning Objectives:
• Understand factors and criteria that are used for credit ratings on California Lease Revenue Bonds and Enterprise Revenue Bonds
• Identify key market data that influences municipal bond yields and prices
• Understand how to evaluate the results of a bond pricing
Speakers:
• Adriana Artola, Associate Director, Ratings Americas Public Finance, S&P Global Ratings
• Cenisa Gutierrez, Senior Analyst, S&P Global Ratings
• Luke Rioux, Finance Director, City of Goleta
• Michael Busch, Chief Strategy Officer, Urban Futures, Inc.
• Parker Colvin, Managing Director, Raymond James
CPEs: 1.8
Program Level: Intermediate Field of Study: Finance
Prerequisite: None
Advanced Preparation: None
Delivery Method: Group Live
9:30 AM – 9:45 AM | Regency 1-3
Break
9:45 AM – 11:45 AM | Regency 4/5
TRACK 1 – Pre-Conference Session 4: Treasury Fundamentals & CCMT Training – Investment Policy Overview, CA Investment Code Update, & Investment Policy Exercise
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 the Investment Policy through what is important to include while learning to identify common trouble spots. Review a “mock investment policy submission for CMTA Certification” to prepare your Investment Policy for CMTA Certification.
Learning Objectives:
• Describe the importance of the Investment Policy Statement as the foundation of any investment program
• Demonstrate Investment Policy best practices
• Define upcoming legislative changes to Code and the importance of timing for board/council approval
• Identify common pitfalls based on the eighteen (18) areas found in a CMTA certified Investment Policy.
Speakers:
• Deborah M. Higgins, President, Higgins Capital Management, Inc.
• John Johnson, Chief Deputy Treasurer, San Bernadino County
CPEs: 2.4
Program Level: Intermediate Field of Study: Specialized Knowledge
Prerequisite: Two years of treasury, finance, or capital markets education and/or experience
Advanced Preparation: None
Delivery Method: Group Live
9:45 AM – 11:45 AM| Regency 6
TRACK 2 – Pre-Conference Session 2, Part 2: How the Muni Bond Sausage is Made: A Deep Dive into Rating Methodologies, Bond Market Dynamics, and Bond Pricing
Now that you’ve mastered foundational municipal debt topics, take a deeper dive into what criteria rating agencies evaluate in rating California Lease Revenue Bonds and Enterprise Revenue Bonds, which market factors and data most influence municipal bond yields and prices, and what strategies are used for pricing and selling municipal bonds. This session will include a case study from the City of Goleta that recently issued Lease Revenue Bonds and Local Transportation Sales Tax Revenue Bonds on the same day.
Learning Objectives:
• Understand factors and criteria that are used for credit ratings on California Lease Revenue Bonds and Enterprise Revenue Bonds
• Identify key market data that influences municipal bond yields and prices
• Understand how to evaluate the results of a bond pricing
Speakers:
• Adriana Artola, Associate Director, Ratings Americas Public Finance, S&P Global Ratings
• Cenisa Gutierrez, Senior Analyst, S&P Global Ratings
• Luke Rioux, Finance Director, City of Goleta
• Michael Busch, Chief Strategy Officer, Urban Futures, Inc.
• Parker Colvin, Managing Director, Raymond James CPEs: 2.4
Program Level: Intermediate Field of Study: Finance
Prerequisite: None
Advanced Preparation: None
Delivery Method: Group Live
11:00 AM – 5:00 PM | Regency 1-3 Exhibit Hall Open
11:45 PM – 1:30 PM | Regency Main
Lunch, Opening Remarks, and Special Guest
Speaker: Life After the International Space Station: Navigating the Next Steps for Human Spaceflight
This year marks 25 years of continuous human occupation of the International Space Station (ISS). With the ISS scheduled to be deorbited in 2030, what will come next for human spaceflight? This presentation will provide an overview of possible follow-on commercial space stations and NASA’s Artemis Program, which will return humans to the Moon.
Learning Objectives:
• Understand the role ISS plays in the development of a commercial space-based marketplace
• Understand how ISS-based research is advancing fundamental scientific knowledge and benefiting humans on Earth
• Understand the economic challenges of operating commercial (non-government owned) space stations
• Become familiar with NASA’s plans to establish a human presence on the Moon.
Speaker:
• Captain Wendy Lawrence, Advisor, Academy Securities, Inc. (Former NASA Astronaut)
CPEs: 1.2
Program Level: Basic Field of Study: Business Management and Organization
Prerequisite: None
Advanced Preparation: None
Delivery Method: Group Live
1:30 PM – 2:00 PM | Regency 1-3
Dessert Break in Exhibit Hall
2:00 PM – 3:00 PM | Regency Main
General Session 1: The Critical Need for Reducing Fraud Risk Vulnerabilities in Local Governments
In this session you will learn about the scope of the fraud risk problem in local government, including hundreds of recent cases of local government embezzlement. You will learn about ways that others use AI and social engineering to convince an employee in your organization to send money to a fraudster. You will better understand why “a trusted employee” commits fraud in the workplace. Delve into case studies of actual local government embezzlement incidents in the recent past. Learn about things you can do to help reduce your organization’s risk. Understand the importance of how the manager is vital in reducing vulnerabilities. You will have an opportunity to see if you can identify the fraud suspect!
Learning Objectives:
• Recognize the scope of the fraud risk problem in government
• Identify why a “trusted employee” commits fraud in the workplace
• Recognize what a typical government embezzlement suspect might look like
• Identify what can be done to promote modern internal controls to reduce fraud risks in the workplace
Speaker:
• David Ross, President & CEO, 65th North Group
CPEs: 1.2
Program Level: Intermediate
Field of Study: Business Management and Organization
Prerequisite: Two years of treasury, finance, or capital markets education and/or experience
Advanced Preparation: None
Delivery Method: Group Live
3:00 PM – 4:00 PM | Regency Main
General Session 2: Beyond Total Return
If a public fund is in fact not a pension fund, then why does current practice promote the same performance measures?
This session looks beyond typical pension fund and Wall Street performance measures toward an independent framework for how to evaluate and measure a public fund investment program.
Learning Objectives:
• Challenge conventional benchmarking practices
• Differentiate public funds from pension funds
• Analyze the role of prudence in creating a universal benchmark
• Define the performance measures of a Universal Benchmark
• Evaluate the importance of a statement of stewardship and implement it as a best practice for investment reporting
Speaker:
• Ben Finkelstein, Managing Director, Fixed Income, RW Baird
CPEs: 1.2
Program Level: Intermediate Field of Study: Investments
Prerequisite: Two years of treasury, finance, or capital markets education and/or experience
Advanced Preparation: None
Delivery Method: Group Live
4:00 PM – 4:15 PM | Regency 1-3 Break (No food/drink)
4:15 PM – 5:15 PM | Regency Main
General Session 3: Open Water – How to Survive in Your New Role as Portfolio Manager
You landed the job and a bit of fear creeps in. Am I in over my head? Seasoned portfolio managers talk about the role of Portfolio Manager and provide a few tips they’ve learned over the years to not just survive but thrive!
Learning Objectives:
• Identify key partners for the office and how to effectively use their services to enhance services provided by your office
• Interpret data with the ability to explain it to relevant and interested parties
We are Wall Street experienced, military trained, and client focused.
As the nationʼs first Post-9/11 veteran-owned and operated investment bank, Academy Securities delivers expertise in capital markets, asset management, public finance, geopolitical intelligence, and fixed income and equity trading. Your Academy coverage team has proudly served California municipalities and CMTA for over 30 years, and we are honored to be your trusted partner.
To learn more, contact: Susan Munson smunson@academysecurities.com 949-669-2780
Andrew Davidoff adavidoff@academysecurities.com 949-669-2370
Caroline Mixon cmixon@academysecurities.com 949-288-0860
Proud to support the CMTA .
Lily Ng, Managing Director lilyk.ng@bmo.com
Edward C. (Ted) Neu Managing Director edward.neu@bmo.com
Tito Ibarrola, Director tito.ibarrola@bmo.com
Robyé Kumar, Director robye.kumar@bmo.com
Michael Brody, Director michael.brody@bmo.com
Thach (Tot) Vang Vice President thach.vang@bmo.com
• Formulate interest rate outlooks and identify investment options based on free and easily accessible information
Speakers:
• Hubie White, CFA CTP, Chief Investment Officer, City and County of San Francisco
• Laura Glenn, CFA, Senior Director, Investment Advisory Services, Public Trust Advisors
CPEs: 1.2
Program Level: Basic Field of Study: Investments
Prerequisite: None
Advanced Preparation: None
Delivery Method: Group Live
5:30 PM – 7:00 PM | Side Bar Icebreaker Reception
THURSDAY, APRIL 24
7:30 AM – 5:00 PM | Regency Foyer Registration Open
8:00 AM – 8:30 AM | Regency 1-3
American Breakfast Buffet
8:00 AM – 4:30 PM | Regency 1-3 Exhibit Hall Open
8:30 AM – 9:30 AM | Regency Main
General Session 4: Macro Outlook - Extreme Uncertainty Clouds Economic and Interest Rate Outlook
The election sweep has upended the outlooks for economic stability, inflation, and the path forward for interest rates. The U.S. economy has not experienced a change in trade policy as sizeable as what has been proposed in many decades, if ever. While many questions remain regarding the eventual trade policies, the economic outlook has now become highly uncertain. Investors expect the disinflation process to stall this year, with growing expectations that it could reverse for a period of time. Against that backdrop, the tail risks to a slow normalization of monetary policy have increased significantly.
Learning Objectives:
• List key factors affecting economic growth trends
• Evaluate and prioritize factors most important to policy makers
• Analyze potential future rate paths
Speaker:
•
Craig Dismuke, Chief
Investment Officer, CEO, Managing Director, Stifel
CPEs: 1.2
Program Level: Basic Field of Study: Economics
Prerequisite: None
Advanced Preparation: None
Delivery Method: Group Live
9:35 AM – 10:35 AM | Regency 4
Breakout Session – Investments 1: Duration and Asset/Liability Management (ALM): Practical Approach Theory and Case Study
Creating an appropriate investment strategy to best meet an agency’s investment policies and goals is often challenging especially when considering all of the different possible investment options available. This session covers the building blocks of an investment strategy utilizing the framework of ALM, which centers around the timing and magnitude of cash flows. Speakers will discuss the importance of focusing on utilizing immunization techniques as well as cash-flow matching strategies to optimize portfolio duration, assign approximate maturity buckets, and apply risk/reward preferences to sector allocations.
Learning Objectives:
• Recognize the value in developing an investment strategy using a “bottom-up” approach
• Summarize why investment and portfolio duration should be key considerations for the framework
• Use the ALM framework to model cash flow and apply appropriate strategies for optimizing portfolio duration for a public agency portfolio through the application of a relevant case study
Speakers:
• Hubie White, CFA CTP, Chief Investment Officer, City and County of San Francisco
• Jason Klinghoffer, CFA, Principal, MaxQ Analytics
CPEs: 1.2
Program Level: Basic Field of Study: Investments
Prerequisite: None
Advanced Preparation: None
Delivery Method: Group Live
9:35 AM – 10:35 AM | Regency 5
Breakout Session – Treasury Management
1: Modernizing Receivables & Trends in the Evolution of Payments for Government
Join us for a discussion around how the Treasury process is evolving in the Government space through modernizing of the Receivables and trends that are seen as the Payables process evolves from paper to electronic.
Learning Objectives:
• Summarize current trends in banking services
• Identify opportunities to modernize processes for efficiency and reducing risk
• Prioritize shifting receivables and payables to electronic channels
Speakers:
• Andre Johnson, Treasury Management Officer, J.P. Morgan Chase
• Jeremy Appel, Receivables Specialist, J.P. Morgan Chase
CPEs: 1.2
Program Level: Intermediate Field of Study: Finance
Prerequisite: Two years of treasury, finance, or capital markets education and/or experience
Advanced Preparation: None
Delivery Method: Group Live
9:35 AM – 10:35 AM | Regency 6
Breakout Session – Debt 1: Developing a Long Range Financial Planning Model
For years, the East Bay Municipal Utility District used fiveyear financial projections to guide capital planning, debt issuance, and rate increases. Two years ago, we expanded to 10-, 20-, and even 50-year horizons to better manage debt reliance and understand long-term financial impacts. This session will explore our education process on capital spending, rates, and debt risks, along with the Excel-based tools we developed, including bond-sizing algorithms and automated PowerPoint creation using AI-assisted macros. The session will also feature insights on financial modeling best practices, presented by a practitioner with extensive experience supporting government agenciesAttendees will gain insights into implementing long-term financial modeling, along with practical Excel tips to enhance scenario planning and optimize projections.
Learning Objectives:
• Describe the long-term implications of relying on debt for financial planning
• Identify and implement effective strategies for internal communication about the drawbacks of debt
• Design a financial model in Excel to project 10, 20, and 50 years into the future
• Illustrate how to enhance modeling automated repetitive tasks with the use of macros, assisted by AI
Speakers:
• Brian Grubbs, Managing Director, Montague and Associates
• Robert Hannay, Treasury Manager, East Bay Municipal Utility District
CPEs: 1.2
Program Level: Intermediate Field of Study: Finance
Prerequisite: Two years of treasury, finance, or capital markets education and/or experience
Advanced Preparation: None
Delivery Method: Group Live
To learn more, connect with:
Amanda Dhillon
amanda.dhillon@jpmorgan.com 916.491.3342
Veronica Villasenor
veronica.villasenor@jpmorgan.com 858.284.5810
https://w w w.jpmorgan.com/commercial-banking /industries/government
A Better Tomorrow Star ts Today.
10:35 AM – 10:50 AM | Regency 1-3
Specialty Coffee Break in Exhibit Hall
10:50 AM – 11:50 AM | Regency 4
Breakout Session – Investments 2: Measure What Matters
The goal of an investment program is the constant pursuit of excellence, not perfection! Those involved in managing the investment program are not expected to time the market or know cash flow details to the dollar. The goal is excellence in the three primary objectives of safety, liquidity, and income. This session will focus on real world measuring and managing the most important aspects of the investment program to enhance your optimal success for the taxpayers of your entity.
Learning Objectives:
• Model and track cash flow information to optimize liquidity
• Develop an Investment Plan specialized for your entity’s risk parameters and objectives
• Analyze the various components of interest risk and credit risk, including callable securities
• Identify the difference between Main Street and Wall Street’s approach to portfolio management
• Describe real world portfolio management structures and strategies for optimal success
Speakers:
• Rick Phillips, Chief Investment Strategist, Meeder Public Funds
• Vishal Thacker, Chief Investment Officer, County of Alameda
CPEs: 1.2
Program Level: Basic
Field of Study: Finance
Prerequisite: None
Advanced Preparation: None
Delivery Method: Group Live
10:50 AM – 11:50 AM | Regency 5
Breakout Session – Treasury Management 2: Federal Home Loan Banks Letters of Credit: LOCs from the Perspective of Issuer and Participant
FHLB Municipal Letters of Credit (MULOCs) are an effective tool used by state and local governments to manage the risk of public funds placed in depositories above the $250,000 maximum FDIC guarantee. The FHLB Office of Finance joined by the FHLB of San Francisco will discuss how MULOCs provide credit enhancement to public unit deposits. The session will include the perspective of a municipal investment officer managing credit risk using MULOCs.
Learning Objectives:
• Summarize the basics of credit risk mitigation for public unit deposits through FHLB MULOCs as an alternative to other forms of risk management
• Define the MULOC program parameters in order to do an assessment of appropriateness and suitability for your public unit deposit’s risk management
• Relate the perspective of a municipal program participant utilizing MULOCs to risk management
• Assimilate background information on the FHLBank System business model and funding program in investment management decision-making
Speakers:
• Denise de Bombelles, SVP Global Investor Relations, FHLB Office of Finance
• Hubie White, CFA CTP, Chief Investment Officer, City and County of San Francisco
• Jennifer Schachterle, SVP Sales & Business Development, FHLB San Francisco
CPEs: 1.2
Program Level: Intermediate Field of Study: Finance
Prerequisite: Two years of treasury, finance, or capital markets education and/or experience
Advanced Preparation: None
Delivery Method: Group Live
10:50 AM – 11:50 AM | Regency 6
Breakout Session – Debt 2: Demystifying the Bond Pricing Process
A primary objective in a municipal bond sale is to achieve comparatively low interest rates on the day of pricing. What should issuers know about the pricing process to feel comfortable with the results of the bond sale? How can issuers be proactive along the way? How can market volatility affect the pricing process? This session will provide issuers with insight into the critical steps in the pricing process for negotiated bond sales.
Learning Objectives:
• Determine the optimal time for a bond sale
• Explain factors affecting bond pricings
• Explain financing team dynamics
• Participate in pricing negotiations
Speaker:
• Dario Tompkins II, Senior Managing Consultant, PFM Financial Advisors LLC.
CPEs: 1.2
Program Level: Intermediate Field of Study: Finance
Prerequisite: Two years of treasury, finance, or capital markets education and/or experience
Advanced Preparation: None
Delivery Method: Group Live
11:50 AM – 1:20 PM | Regency Main
Lunch and General Session 5: Geopolitical Overview – Understanding Threats and Opportunities in 2025
Major General (Ret.) James A. “Spider” Marks will address and discuss the major geopolitical themes, tensions, and issues driving international policy and creating macroeconomic risk, beginning with the global power competition and what we can expect from the second term of President Donald Trump. General Marks will highlight geopolitical hotspots, including but not limited to Russia/ Ukraine, Gaza, Greenland and most importantly, China. Join us for this engaging and interactive session where questions from the audience are highly encouraged.
Learning Objectives:
• Identify the key drivers of global power competition and how the second Trump administration could shape global geopolitical dynamic
• Name the strategic challenges posed by China’s economic and military policies in shaping global financial stability
• Understand the significance of D.I.M.E when assessing global conflicts and potential implications
• Identify the current geopolitical hotspots and potential impact on the financial markets.
Speaker:
• Major General (Ret.) James “Spider” Marks, Head of Geopolitical Strategy
CPEs: 1.2
Program Level: Intermediate Field of Study: Specialized Knowledge
Prerequisite: Two years of treasury, finance, or capital markets education and/or experience
Advanced Preparation: None
Delivery Method: Group Live
1:20 PM – 2:00 PM | Regency 1-3
Dessert Break in Exhibit Hall
2:00 PM – 3:00 PM | Regency Main
General Session 6: Public Speaking for Finance Professionals
Impactful and memorable speeches and presentations is both an art and a skill, as well as an essential part of leadership! Learn what it takes to overcome your fear of public speaking and to be more effective at it. This session breaks down into bite size and actionable chunks on what to do. The session is engaging with exercises that move you around and interact with others. Learn, have fun and build your confidence!
Learning Objectives:
• Identify strategies to be calmer and more composed before, during and after a presentation
• Identify and analyze what your body is conveying to the audience without you even realizing it
• Identify and implement three techniques that enhance speaker confidence
• Demonstrate effective leadership communication techniques that enhance organizational influence in professional settings
Speaker:
• Steve Yu, MBA, COO/CFO, UCLA South Bay
CPEs: 1.2
Program Level: Basic
Field of Study: Personal Development
Prerequisite: None
Advanced Preparation: None
Delivery Method: Group Live
3:00 PM – 3:10 PM | Regency 1-3
Break (No food/drink)
3:10 PM – 4:10 PM | Regency 4
Breakout Session – Investments 3: Tales of the Credit Desk
While this storytelling won’t happen over a crackling campfire, it’s designed to be just as enlightening. Whether you’re new to credit investments or not, come hear from experienced practitioners and portfolio traders about how
Work with a team that knows your business
Wells Fargo is a proud sponsor of the 2025 CMTA Annual Conference. We place special emphasis on relationships and take to learn about your business and its operations, growth opportunities, and challenges.
Kristen Trivison Market Executive
kristen.m.trivison@wellsfargo.com 480-271-1271
these securities work off paper and in practice. Forged from real experiences, we will share investing best practices during boom-and-bust cycles and give a behind-the-scenes look at what “credit research” actually means.
Learning Objectives:
• List the key components of credit research
• Explain how data is used as an integral part of the investment process
• List best practices for utilizing credit investments when the economy is in distress
Speakers:
• Philip Levy, CFA, CPA, Senior Portfolio Manager, Assistant Vice President, PFM Asset Management, a division of U.S. Bancorp Asset Management, Inc.
• Winnie Cheng, CFA, Principal Credit Analyst, Vice President, U.S. Bancorp Asset Management, Inc.
3:10 PM – 4:10 PM | Regency 5
Breakout Session – Treasury Management 3: The Five Step Fiscal Sustainability Plan – Essential Tools and Strategies for Revenue Generation
This panel will provide an overview and current status of revenue tools available to cities and local agencies, along with the challenges and opportunities. Current examples for a city will be discussed as well as the legal landscape today.
Learning Objectives:
• The goal is that a participant will understand the revenue options and be able to take the knowledge back to help their agency thrive and move forward
Speakers:
• Harjot Sangha, City Manager, City of Morgan Hill
• Meghan A. Wharton, Esquire, Colantuono, Highsmith & Whatley
• Tim Seufert, Managing Director, NBS
CPEs: 1.2
Program Level: Basic
Field of Study: Finance
Prerequisite: None
Advanced Preparation: None
Delivery Method: Group Live
3:10 PM – 4:10 PM | Regency 6
Breakout Session – Debt 3: Borrowing Strategies in a Changing Interest Rate Environment
Interest rates continue to stay at higher levels and remain volatile, traditional refinancing tools have not worked, and capital needs continue to mount. A growing number of California issuers have successfully used innovative techniques to save money on existing bonds and find alternative borrowing mechanisms to fund current and future capital improvements.
In 2017, Federal law eliminated tax exempt advance refunding’s that allowed issuers to refinance debt even before the bonds could be called. The market quickly shifted to refinancing tax exempt bonds with taxable bonds and while interest rates were low many California issuers used taxable refunding’s to save money. But as rates rose, innovative investment bankers helped develop new approaches for creating savings on bond debt service. These refunding options include tender offerings, escrows to maturity, and cash optimization, among others. In addition, as we have witnessed a Red Sweep (White House, Senate and the House), what impact will that result in for municipal issuers. Will the tax-exemption be at risk? Will we see extension of the TCJA provisions? And finally, what will be impact on the municipal rates?
Learning Objectives:
• This panel will explore these strategies and also review funding options (direct purchase and short-term lines) for the Borrowers
• This panel will be designed to assist both novice and experienced borrowers learn about new refinancing/ financing approaches and equip the municipal officers with the dialogue to discuss options with their financial advisor
• Learn from local experts on strategies that benefit CA agencies. Save money on debt issuances, create cash flow options and in the current rate environment
• In addition, the panel will address potential impact of the elections on the municipal market
Speakers:
• Chintan Dholakia, Executive Director, Public Finance, Wells Fargo Bank
• John Self, Director Public Funds Muni Placements, Wells Fargo Bank
CPEs: 1.2
Program Level: Basic Field of Study: Finance
Prerequisite: None
Advanced Preparation: None
Delivery Method: Group Live
4:10 PM – 4:30 PM | Regency 1-3
Break in Exhibit Hall
4:30 PM – 5:30 PM | Regency 4
Breakout Session – Investments 4: Money Funds, LGIPs, and JPAs: The Ins and Outs of Pooled Investment Options
Understanding the purposes and structures of various Pooled Investment options is key to assessing which Pools are best suited for your risk tolerance and liquidity needs. In this session, we will define available Pooled Investment options, identify best practices for performing due
CPEs: 1.2
Program Level: Intermediate
Field of Study: Management Services
Prerequisite: Two years of treasury, finance, or capital markets education and/or experience
Advanced Preparation: None
Delivery Method: Group Live
4:30 PM – 5:30 PM | Regency 6
Breakout Session – Debt 4: Issuing Debt? Make sure your Debt Ship is Storm Safe before you set sail!
Is your agency considering issuing debt to pay for needs ranging from vital infrastructure to utility undergrounding or even pension obligations? It is possible, but you will need a strong foundation to get started. This session addresses the development of a debt and disclosure policy, as required by SB 1029, including legal requirements, best practices and implementation and policy update standards.
Learning Objectives:
• Identify and explain the Legal Requirements of Debt & Disclosure Policies
• Evaluate and compare best practices related to Debt & Disclosure Policies
• Apply practical implementation strategies of Debt & Disclosure Policies
Speakers:
• Anna Sarabian, Partner, Fieldman, Rolapp and Associates, Inc.
• Brad Neal, Principal, Stradling, Yocca, Carlson and Rauth, LLP.
• Heidi Schoeppe, President/Managing Director, Webb Municipal Finance, LLC.
• Todd Craghead, Financial Analyst II - Special Funding Districts, Eastern Municipal Water District
CPEs: 1.2
Program Level: Basic
Field of Study: Finance
Prerequisite: None
Advanced Preparation: None
Delivery Method: Group Live
4:30 PM – 6:00 PM | Regency 1-3
Exhibit Hall Teardown
6:00 PM – 8:00 PM | Monterey Beach Station Evening Reception
FRIDAY, APRIL 25
7:30 AM – 11:30 PM | Regency Foyer
Registration Open
8:00 AM – 9:00 AM | Regency Main
Full American Breakfast Buffet
9:15 AM – 10:15 AM | Regency Main
General Session 7: Protect Your Organization from Cybercrime – Fraud, Cybersecurity, and Internal Controls
Local governments are facing increasing difficulty maintaining strong internal controls due to staff shortage, high turnover, and changing working arrangements. This session will discuss common pitfalls of internal control and provide practical tips on how to improve from both financial and cybersecurity perspectives. Audience participation and questions will be encouraged.
Learning Objectives:
• Develop strategies to strengthen internal controls to minimize opportunities for fraud to occur
• Implement procedures to prevent loss from cyber incidents
• Implement strategic initiatives to enhance the cybersecurity effort in their organizations
Speakers:
• Katherine Yuen Krisch, CEO, Krisch & Company
• Donald E. Hester, Cybersecurity Advisor, Cybersecurity & Infrastructure Security Agency
CPEs: 1.2
Program Level: Intermediate Field of Study: Finance
Prerequisite: Two years of treasury, finance, or capital markets education and/or experience
Advanced Preparation: None
Delivery Method: Group Live
10:30 AM – 11:30 AM | Regency Main
General Session 8: Artificial Intelligence and Its Impact on Government Finance
Join us for a “Fireside Chat” about the impact of Artificial Intelligence (AI) on government finance and beyond. We’ll share our thoughts about the current state of AI, upcoming trends, use-cases for treasury professionals and how it’s improving the payments ecosystem.
Learning Objectives:
• Explain the current state of Artificial Intelligence
• Describe current use-cases of AI within the Treasury and Payments space
• Identify potential risks of AI and how to mitigate them
Speakers:
• Abhik Banerjee, Senior Director of Artificial Intelligence/Machine Learning Solutions Platform Executive Director, J.P. Morgan Chase
• Alex Leonard, Industry Manager, Govt. Segment, J.P. Morgan Chase
• Andre Johnson, CFA, CTP, Senior Treasury Management Office, Executive Director, JP Chase
CPEs: 1.2
Program Level: Intermediate Field of Study: Finance
Prerequisite: Two years of treasury, finance, or capital markets education and/or experience
Advanced Preparation: None
Delivery Method: Group Live
11:30 AM | Regency Main Closing Remarks
