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Car etr CwsNej1Wmy ViAirety"Ictr" and
<br />Drefighte", Penka, Ro.rd "Cfram"Vs
<br />Nfinures of Febroary M Mrs M(xlinK
<br />Piig 4 A6
<br />8. Consent Agenda
<br />Tice action proposed to be taken is slated I'm, each item oil the consent agenda. Unless the item is
<br />removed from tile Consent Agenda by a Pension Board member for discussion on individual
<br />items, a sillg[Q motion will approve all items.
<br />A. Approval of'Expenditure Report -
<br />l. Contractual Invoices — Previously Paid
<br />a. The Bogdahn Group, pQrformance evaluation and consulting services. October 2014
<br />throluoh December 2014, invoice 11133 - $4:625.00
<br />b, Christiansen & Delmer, professional legit fees through 91,30,12014, invoice 25400 -
<br />52,486.66
<br />c, Christiansen & Deliner, professional legal fees through 10131/2014, invoice 25531 -
<br />S455.' ' IS
<br />d, Foster & Foster, actuarial services. invoice 6679 - $7,873,00
<br />c, Wells Fargo. Gaillard Capital Management, investment management fees, July 2014
<br />through September 2014„ invoice 9330211 - $2,455,34
<br />f Manning & Napier, investment management fees, June 2014 through August 2014;
<br />invoice It 58459 - `517,821 A0
<br />g. Salem Trust Company, custodial fees, July 2014 through September 2014 -
<br />S1,25000, dournatically deducted from account
<br />It. Christiansen & Dchaer, prol'essional legal fees through 11/30/2014, invoice 25651 -
<br />575.80
<br />j. Manning & Napier, investment management fees, September 2014 througgh
<br />Novernbct, 2014. invoice 20141130-126-3516-A- $16,887.82
<br />J. Salem Trust Company, custodial fees, October 2014 through December 2014 -
<br />S1,375,00, automatically deducted boat account
<br />L Wells Fargo, Galliard Capital Management. investment management fees, October
<br />2014 through December 2014, invoice 9510735 - S2,IK72
<br />2. Contractual Invoices — New Disbursements
<br />0- ChFiStiq]ISCII & Deliner, professional legal fees through 12/3 112014, invoice 25777-
<br />S2,57i, 12
<br />b, Foster & F"tcr, plan administration services. December 2014 and January 2015,
<br />invoice 6897 52,093-55
<br />MOTION: Member Herder moved to approve the Consent Agenda, as presented. Motion Nvis
<br />seconded bye Member flufford. Motion carried unanimously' by voice vote 4-0.
<br />9. Staff Reports/Discussion
<br />A, Fen-ell Jerre, Plan Administrator
<br />L The Salem Trust Authorization Form was complete=d and signed authorizing Ms. Jenne to
<br />be one of, the two signatories approving routine invoices for payment, as outlined in the
<br />ne%v Operating Rules and PjocedUDOS.
<br />2, A letter was prcscntLci infilrining the board that Foster & Foster has hired an
<br />administrative assistant to help with additional client load as well to support clients
<br />
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