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Police Officers' and Firefighters' Pension Board <br />September 5, 2002 <br />Page 2 <br />III. Approval of Minutes - June 3, 2002 <br />MOTION: Moved by Firefighter Theresa Krebs to approve the minutes of June <br />3, 2002 Police Officers' and Firefighters' Pension Board Meeting as <br />distributed. Motion was seconded by Mr. Hank Giffens and carried <br />unanimously by voice vote. <br />IV. Presentation by Lance Powers - <br />Investment Report from TRUSCO Capital Management <br />Mr. Lance Powers TRUSCO Capital Management presented the Investment Report, dated June <br />3, 2002, for the Police Officers' and Firefighter Pension Plan. The total assets of the Fund for <br />the period ending June 30, 2002 as $1,013,816. The report is available for inspection with the <br />City Clerk of the City of Casselberry. <br />MOTION: Moved by Mr. Hank Giffen to accept the report from TRUSCO <br />Capital Management as presented by Mr. Lance Powers. Motion was <br />seconded by Firefighter Theresa Krebs and carried unanimously by <br />voice vote. <br />V. Presentation by Bill Stark - Bogdahn Consulting <br />Mr. Bill Stark, Bogdahan Consulting, presented the performance evaluation report of the <br />investment manager, TRUSCO Capital Management. The investments by TRUSCO for the <br />quarter ending June 30, 2002, were in compliance with the investment policy established by the <br />board. Mr. Stark stated that the fund currently was in line with policy regarding the 8% actuarial <br />assumption, but due to the down market of 2000, the fund behind the 8% actuarial assumption <br />by approximately $170,000.00. The complete report is available for inspection with the City <br />Clerk of the City of Casselberry. <br />MOTION: Moved by Mr. Hank Giffen to accept the report from Bogdahn <br />Consulting as presented by Mr. Bill Stark. Motion was seconded by <br />Firefighter Theresa Krebs and carried unanimously by voice vote. <br />