Id like to call the meeting to order welcome please join me with the pledge and to the republic for which it stands, one nation under god, indivisible, with liberty and justice for all roll call please. Yes. Commissioner bridges and commissioner driscal my burger and pass care jordan a quorum is present. Okay. Well up it up for general Public Comment i have a few speaker cards. I will start with this you cant mill deny. Good afternoon Board Members im you cant mill denny work for laguna holding worked phenomenon the city for 20 years ive collected 3 hundred and 50 signatures of a petition from workers from laguna hydroand sf general they cant be here they are serving the patient and the message is we the city workers do not want to invest our pension in hedge funds whoever make that proposal needs to go and represent another institution because they does not represent our interests thank you. I have 3 hundred and 50. Okay glen followed by fin is glen here . Welco welcome. Thank you, co
Id like to call the meeting to order welcome please join me with the pledge and to the republic for which it stands, one nation under god, indivisible, with liberty and justice for all roll call please. Yes. Commissioner bridges and commissioner driscal my burger and pass care jordan a quorum is present. Okay. Well up it up for general Public Comment i have a few speaker cards. I will start with this you cant mill deny. Good afternoon Board Members im you cant mill denny work for laguna holding worked phenomenon the city for 20 years ive collected 3 hundred and 50 signatures of a petition from workers from laguna hydroand sf general they cant be here they are serving the patient and the message is we the city workers do not want to invest our pension in hedge funds whoever make that proposal needs to go and represent another institution because they does not represent our interests thank you. I have 3 hundred and 50. Okay glen followed by fin is glen here . Welco welcome. Thank you, co
Public servants so to aspect and retirees they dumped the hedge funds and listen to air m e o had had a great presentation his comments were they were too complex the fees were too high, and the yield was low, they werent transparent, and they couldnt follow or track them very well so they get rid of them i mean this is like a good example of something to compare i suggest if you havent seen this manager you should listens to him anyway it is also another thing your Mission Statement it says that you have to or you want to protect and preservation invest the Pension Trust assets and promise benefits of the active and retired members of the San Francisco Ethics Commission i dont consider them as a member the hedge funds proof of investing if somebody came to my door i dont have any money to invest id shut the door in their face. Is selena followed by david. Silva sorry. Its silva just for the read im not i im not its in the minute i ask you amend the october minutes i submitted a petiti
Yeah. But it seems like that maybe, when we do the budget, there is and there needs to be a whole realignment of what is based on it. Yeah. And i would think. Yeah. Because, at this point, the numbers dont seem to. Coordinate, the way that they did, originally, when we said, here is our construction, and here is our cmg and our others and, it seemed to bear, a reasonable relationship. Yeah. And yeah, this is the, and where we are at right now is the second column and the and this is our current contingency balance which is the 123, and in that balance, we have 54. 5 million dollars, in construction contingency and 32. 9, and 15 million in Program Reserves. And the design of the 2. 7, and the 18. 7 escalation and it will be utilized as we award the trade package and what remains is the 54 and the 32 and 15. And so fund the difference between the estimates and the budgets for the upcoming trade packages we will expect that we need to draw, 22. 7 million from the construction contingency
I am concerned about and im hoping that we can perhaps include it now or at the full Board Meeting which is allowing the under rules and regs. Right now it states that the caos office is going to develop those. I would suggest that being given that responsibility is something they work on day in and day out and the cao praufs approves the final rules and regs and the Advisory Committee praufs approves that. Right now the Advisory Group has very little say in policy issues. I think they should be able to hear some of these issuesch i hear all of these working groups being established and that might be the primary place where you hear these issues. The second thing is onseting guidelines for the Selection Panel that seem to be given the responsibility to set guidelines. Not to pick the individual Panel Members but to certainly to establish the guidelines by which a panel should be developed. And, the last thing as i stated is the lbe. Supervisor london breed thank you. Are there any othe