>> as long as the commissioner casciato agrees that he's moving approval of consent calendar minus the two travel requests. >> yes. >> president stansbury: there's a motion and there's a second. why don't we call for general public comment. any members of the public that would like to address the board regarding this? none, we'll close public comment. without objection? seeing none, item passes. thank you very much, next item. >> clerk: item number 7, july introduction to the standards of number 51 and 2018 reveal that this item was continued from the july 10, 2018, retirement board meeting. >> good afternoon, commissioners, bill hamark is here to discuss the new actual standard of practice that has impacted our actuary report and to give the reveal. >> thank you. so before i get into the new actuarial standard of practice and what -- just high level what it might mean to the system, i wanted to touch just a few things on where we ended up with last year's valuation just at a real high level, to set the context before we get into that discussion of risk and then the economic assumption

commissioner casciato, there is the -- what is your timing looking like? >> i'd like to go before the garage closes. the gate closes. >> president stansbury: i think that we have really just a couple items, we have a chief investment report. >> at 10 to i'm walking out of the door. >> president stansbury: okay. >> clerk: discussion item, chief investment officer report. >> okay, here we go. front page, you will see that we returned 1.02% for the month and equities up a couple percent, in particular our global equity manager aerostreet does really well. and the private market strategies were all slightly in the green. i did want to turn to page 2 and highlight one thing. and that is that we have added a column off on the far right side and that is the dollar amounts of our unfunded commitments. again, we're on page 2 on the far right side in the new column. and that is to show just a magnitude of our unfunded commitments because it's grown quite a bit. and we were at less than $2 billion, 3.5 years ago. we are still in a good position and we monitor this al