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Police/Fire Pension Board of Trustees <br />December 1, 2003 <br />Page 2 <br />III. Approval of Minutes -September 4, 2003 <br />MOTION: Moved by Mr. Frank Schutte to approve the minutes of September 4, 2003 <br />as presented. The motion was seconded by Mr. Dale Christensen and <br />carried unanimously by voice vote. (4 - 0) <br />IV. Approval of Actuarial Report - Foster & Foster <br />Mr. Patrick T. Donlan of Foster and Foster presented the Actuarial Impact Statement dated October 1, <br />2003 for Fiscal Year Ended September 30, 2003. A copy of the Actuarial Report presented by Mr. <br />Donlan is available for inspection with the City Clerk of the City of Casselberry. <br />MOTION: Moved by Mr. Frank Schutte to accept the Actuarial Report from Foster & <br />Foster, Inc. as presented by Mr. Patrick T. Donlan. The motion was <br />seconded by Mr. Dale Christensen and carried unanimously by voice vote. <br />(4-0) <br />V. Presentation by Lance Powers - Investment Report from TRUSCO Capital Management <br />Mr. Lance Powers, Trusco Capital Management, presented the Investment Report for the period ending <br />September 30, 2003, for the Police Officers' and Firefighter Pension Plan. Mr. Powers reported that the <br />total assets of the Fund for the period was $1,567,192. The complete report and list of the investments <br />are available for inspection with the City Clerk of the City of Casselberry. <br />VI. Presentation by Bill Stark - Bog_dahn Consulting <br />Mr. Bill Stark, Bogdahn Consulting, presented the performance evaluation report of the Pension Fund <br />investment manager, Trusco Capital Management for the quarter ending September 30, 2003. Mr. Stark <br />reported on the performance of Trusco for the quarter indicating that Trusco met the standards of the <br />investment policy as established by the board; and since inception of the Plan, Trusco has performed 3.5 <br />percent better than policy. The complete report of the performance evaluation of Trusco is available for <br />inspection with the City Clerk of the City of Casselberry. <br />VII. Approval of Expenditure Report <br />MOTION: Moved by Battalion Chief Donald Harkins to approve the Expenditure <br />Report dated November 10, 2003 as presented. The Motion was seconded <br />by Mr. Dale Christensen and approved unanimously by voice vote. (4 - 0) <br />