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
Very loosey goosey. And then when weve all had our word, well have an interchange amongst ourselves and with you all. So just have a conversation as we go on a couple of housekeeping things to begin with this weekend for those of you that dont know is the society of president ial descendants first biannual, gathering as call it. This is a new society, president ial descendants. There was no thing before till i created it. It and we have a partnership with Long Island University who takes care of much of us. We really appreciate the tremendous amount of work theyve done. And some sign of it is this roosevelt right here, which if you havent had a c bit to see you havent see it yet do walk around it. Youll each go who are staying for dinner . Well go to a different dining room and the way thatll work is, well have a Cocktail Reception in front of the house and then everybody will go to their dining area and. Then as dinner finishes it will all come back in here where. Doris Kearns Goodwin
So lets started do you mind if i sit no. Okay now there is im just afraid ill fall off the front of this. Welcome to the panel of president ial descent thats here. And were delighted to have the panelists. Ill introduce them a minute. And i think the way well handle this is well take a few minutes and you what he or she wants to tell about anything, thats their. And then so its going to be very loosey goosey. And then when weve all had our word, well have an interchange amongst ourselves and with you all. So just have a conversation as we go on a couple of housekeeping things to begin with this weekend for those of you that dont know is the society of president ial descendants first biannual, gathering as call it. This is a new society, president ial descendants. There was no thing before till i created it. It and we have a partnership with Long Island University who takes care of much of us. We really appreciate the tremendous amount of work theyve done. And some sign of it is this ro