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i P ISI � TRUST ADVISORS INVESTNIENT SEMINAR AGENDA ' PUBLIC FUNDS INVESTMENT SEMINAR—THURSDAY, OCTOBER H, 2015 7:00 am to 8:00 am 12:00 pm to 1:10 pm Lunch(provided) REGISTRATION AND CONTINENTAL BREAKFAST 1:10 pm to 2:00 pm B:00 am to 8:20 am —"— -�- — — CURRENT TRENDS IN PUBLIC FINANCE AND CAPITAL MARKETS WELCOME AND OPENING REMARKS: KEN BURKE,CPA This session will cover general market conditions,trends related CLERK OF THE CIRCUIT COURT AND COMPTROLLER,PINEUAS COUNTY to debt issuance,and factors affecting bond refundings.We will look specifically at how the municipal market has fared in 2015 8:20 am to 9:10 am — and where the market might be heading in 2016. STANDARD&POOR'S FUND RATINGS AND EVALUATING POTENTIAL Matthew J.Sansbury,Managing Director,Stifel IMPACT OF MONEY MARKET FUND REFORM AMENDMENTS ON RATED GOVERNMENT INVESTMENT POOLS 2:00 pm to 2:S0 pm We will also explore trends in government investment pools in 2,4,6,8—WHO'S READY FOR A GASB UPDATE? light of the Money Fund reforms. While we we're debating the impact of GASB Statement No.68, Peter Rizzo,Senior Director,Standard and Poor's the GASB has delivered some new pronouncements that will 9:10 am to 10:00 am need to be evaluated for how they will affect your accounting °THE CHANGING LANDSCAPE IN BANKING REGULATIONS" and financial reporting.This update will include a focus on i The Basel Committee and the Dodd-Frank Act set into motion a Statement No.72, Fair Value Measurement and Application. wave of new regulations intended to create safer banks. In this Yvonne M.Clayborne,CPA Manager,Carr,Riggs&Ingram LLC session we will provide a regulatory update,assess the key 2:50 pm to 3:10 pm Afternoon Break implications of the new rules,and offer prudent questions to consider from the perspective of both a bank analyst and public funds investor. 3:10 pm to 4:00 pm Todd Alton,CFA,Credit Research Public Trust Advisors THE DOWN-AND-DIRTY OF THE NEW PENSION ACCOUNTING STANDARD - There are two complex aspects to the new pension accounting 10 00 am to 10:20 am Morning Break _ _ standard for employers(GASB Statement No.68): (a) accounting and recognition and(b)disclosures in Notes and RSI. 10:20 am to.11:10 am This session will focus on the accounting and recognition rules ECONOMIC UPDATE: READY,AIM,... for the balance sheet and pension expense,leaving disclosures As another year of recovery comes to a close,people are for some other dayl becoming accustomed to modest economic growth,reasonably James J.Rizzo,ASA,MAAA,Gabriel,Roeder,Smith&Co. strong job creation,and declining unemployment. Each year 4:00 pm to 4:50 pm new global events impact the US economy and financial ------------ -- ---• —_—____ markets,whether it is the European debt crisis or the INVESTMENT REPORTING deceleration of economic growth in China. Given all of this, While the universe of permitted public funds investments is what is the likely direction of Fed policy in the coming year? typically limited to investment grade fixed income securities, William Seyfried,Ph.D.,Economist,Rollins College there are a number of ways public entities report on portfolio holdings. This session will explore the various ways investment 11:10 am to 12:00 pm holdings are reported including required information, INVESTMENT PERFORMANCE:COMPARING INCOME AND TOTAL RETURN performance,asset allocation and security level detail. Interest rates and volatility seem to go hand in hand these days. Tom Tight,Managing Director Will we ever see interest rates increase and what's more important for longer term investment strategies in a rising rate THIS PUBLIC FUNDS SEMINAR BAPPROVED FOR S HOURS OF environment-the im act on total return or investment BU5111255( p C'SSIOIIaI TECHNICAL BUSINESS CPE BY THE FLORIDA DEPARTMENT OF PfOf income? lif-t�tll ssi BUSINESS&PROFESSIONAL REGULATION John F.Grady III,CTP,Managing Director 22