PB 12/16/2005 Minutes - Laserfiche WebLink

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Police/Fire Perasiorr Borrrrl of Tr•rrstees Meelirrg DecerraGer• I6, 2005 Prrge 2 2. Re-Election of Firefi liter Metuher -Cltief Donald Harkins The City Clerk stated that letters were sentto alt eligible members in the Firefighters' Pension Plan advising that the firefighter position oft the Boat•d of Trustees was up for e]ectiott. (Letter is Attached}. The election 4vas to be scheduled for December 9, 2005. Cltief Harkins is the firefighter member currently serving on this position completing his first term. Since Chief Harkins vas the only Firefighter that elpressed interest itt the vacancy, an election did trot have to be conducted and he was declared the winner by acclamation for a second term; effective to December 2007, 3. AUtroval of Minutes -August 16, 2045 MOTION: Moved by Police Officer William Nas to approve the minutes of August 16, 2005 as suUntitted. Motion was seconded by Mr. Frank Sclttctte atul carried unanimously by voice vote. (5 - 0) 4, Approval of Actuarial Report -Foster and foster Mr. Patrick Donlon of Faster and Poster presented the Actuarial Impact Report for Fiscal Year Ended September 30, 2006. A copy of the Actuarial Report presented by Mr. Donlon is available for inspection with the City Clerk of the City of Casselberty. Mr. Donlan said the fund vas actuarial very conservative attd he would recommend the Board use the 8% as the investment assumption for the coating year evert though the plan did not meet that assutttption this year, MOTION: Moved by Cltief Jolttt Pavlis to accept the Actuarial Report fi•om Foster & Foster, Itte. as presented Uy Mr. Ward Foster. The motion was seconded by Mt•. Ft'attlc Seluttte and carried unanimously by voice vote. 5. Presentation by Mat•v J, Dttt•lcin -Investment Report front TRUSCO Capiit~l M_a_r?agerttent Ms. Mary J. Durkin, Trusco Capital Management, presented the Investment Report for the 2005 second quarter ending September, 2005 for the Police Officers' and Firefighter Pension Platt. The total assets oftlte Futtd ending forthis period ryas $2,728,180.90 based on an asset allocation outlined in fire InvestmentPolicy. The complete report and list of the investments as submitted are available for inspection with the City Clerk oftlte City of Casselbert•y. Ms. Durkin stated that she would peovide the Board with a monthly market perspective oftlte plan's assets in addition to the quarterly statementtitat is provided in the meeting packet. Tire Trusco Capital Management Report was accepted and no fot•tnal action needed to be taken by the Board,