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City of Casselberry Police Officers' and Firefighters' Pension Board of Trustees Minutes of February 14, 2017 meeting Page 3 of securities and less exposure to treasuries, was able to realize a gain for the quarter. Real Estate Income: A rnerican Core Realty is in the process of restructuring its portfolio. while a fair amount of income continues to be received, it is not as strong at this time. C. AdCo C011sultilIg —20 17 Asset Allocation Model Agenda amended to include the 2017 Asset Allocation Model As requested at the previous meeting, Mr. Evatt presented the 2017 Asset Allocation Model: 15 Year Forecasts & Asset Mix Projections report. After the updated version of all options were presented, it was agreed that no changes will be made at this tillle. . New Business A. Reappointment of lion Larkins by City Commission Reappointment of Trustee Harkins was approved by the City Commission during their meeting held on January 23, 2017. His term ends on November ember 0, 2018. B. Certification of police Member Election Results An election was held by the Plan Administrator for the Police Department Representative. A total of 27 votes were cast with 20 votes for William Nas and 7 votes for James Strenth. MOTION: Member Harkins ino ed to certify the results of the election. Motion was seconded by Member Van Ore. Motion carried by voice vote -o, with member Nas abstaining. C. Election of Officers Chairman Hettler opened the floor for the selection of the new board officers. Because officers are elected even two years, the only open position is Vice -Chairman. MOTION: Member Mettler moved to select Member Harkins for the position of Vice -Clair, -lotion was seconded by Member Van Ore. lotion carried by voice vote 4-0. D. Proposed Ordinance An ordinance was proposed at the November 8, 2016 meeting to address the definition of compensation for the putl)ose of police officer off-duty work. Mr. Christiansen presented an ordinance prepared based upon that request. Subsequently, additional concerns relating to pay for certain fringe benefits for both Police Department members paid by the City and Fire D partment members paid by Serninole County have arisen. After discussion, it was determined that the concerns will be reviewed by the City Finance Department, Seminole County Finance Department, and the police union prior to authorization of the ordinance by the Flan for submission to the City Commission for final approval. 7. old Business A. Actuarial Impact Statement Dated October 14, 2016 An Actuarial Impact Statement dated October 14, 2016 which was a result of the mutual agreement with the police union was given to the board nicinbers just prior to the quarterly ineeting held on November 8, 2016. This agenda item was added in order to place the October 14, 20 16 Actuarial Impact Statement into the