VIRGINIA BEACH, VA, July 7, 2008 -- Bay Capital Advisors is proud to announce that its Managing Principal, Jim Flinchum, has been appointed by Virginia Beach City Council to its first Local Finance Board to monitor the investment portfolio of the Virginia trust fund on employee expenses.

State law mandates that any city participating in the trust be represented by a local finance board of at least three members: the City Treasurer, the Director of Finance, and a citizen member. Jim Flinchum has been appointed as the citizen member to a two-year term.

Flinchum is a Certified Financial Planner®, as well as an Investment Management Consultant Analyst®.

His board duties include representing the city's interests, monitoring investment results, working with fund mangers, exercising voting rights, and making investment recommendations.

"I look forward to helping the city on this important issue," Flinchum says. "Retiree health care is a major issue for all entities, and beginning this type of funding process now is a great first step."