PB Minutes 02/14/2006 - Laserfiche WebLink

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Police/Fire Pension Board of Trrestees Meeting February 14, 2006 Prrge 2 3. Presentation b Mar ~ Durkiu- Investtttent Re nrt Tram TRUSCO Ca tial Mann entent Ms. Macy J. Durkin, Trusco Capital Management, presented the investment Report for the 2005 fourth quarter ettdittg December 31, 2005 for tlae Police Officers' and Firefighters' Pension Plan. The total assets of the F-uid ending far this period was $2,836, I01.53 based on an asset allocation otttlitled in the Investment Policy. The complete report and list of the investments as submitted by Ms. Durkin are available for inspection with the City Clerk of the City of Casselberry. The Trusco Capital Management Report lvas accepted with no forma! action needed to be Taken by the Board, 4. Presetttatinn b Mike Welker - Bo dalttt Consnltin Mr. Mike Welker, Bogdalm Consulting, presented the perfot•tnance evaluation report of the Investment Manager, Trusco Capita) Managetnettt for he quarter ending December 3 1, 2005. He stated that Trusco portfolio did better over the last quarter with $2.8 million and met the basics of the Investment Policy allocation. He reiterated his concerns regat•ding Trtisco's overall pet•formanee and recommended the Board be proactive and look at other money managers that could possibly provide enhancements, better processes and better performance than Trusco, The complete report as submitted by Mr. Welker is available for inspection with the City Clerk of the City of Casselberry. The Bogdahtt Report vas accepted with no formal action needed to be taken by the Board. 5. Approval of Expenclihu•e Report In a letter dated February 2, 2006 from Jeffrey Dreier, Finance Director, the following invoices were presented to the Boaed for approval: a) Christiansen & Definer -November 30, 2005 - $25.OOIDecember 28, 2005 - $762.39 b) Bogdahn Consultants -October ], 2005 - $1,250.00 c) Foster & Foster, Inc. -December 16, 2005 - $750.00/December 16, 2005 - $9,396.00 MOTION: Moved by Mr. rranlc Scbutte to approve the Expendihtre Report dated Tebruaty 2, 2006 as presented. Motion was seconded by Mr. David Gonzalez and carried nn a 4 - 0 vote.