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Police Officers' and Firefighters' Pension Board <br />December 5, 2000 <br />Page 2 <br />IV. Presentation by Lance Powers - Investment Report from TRUSCO Capital Management <br />Mr. Lance Powers from TRUSCO Capital Management presented the Investment Report. The <br />portfolio value as of June 30, 2000 is $435,220.22. The report from Trusco Capital Management was <br />accepted by the Board and is attached to and part of these minutes. <br />V. Presentation by Investment Monitoring Services <br />Mr. Bill Stark presented a performance evaluation report from Investment Monitoring Services regarding <br />investments by Trusco Capital Management for the Police Officers' and Firefighters' Retirement Plan for <br />the period ending September 30, 2000, report is attached to and made a part of these minutes. He said <br />that Trusco Investments for the Plan was well within the risk factors of the Investment Policy. <br />The Board received notification, letter dated October 28, 2000, from Mr. Joseph Bogdahn that <br />Investment Monitoring Services no longer provided investment monitoring and the Agreement entered <br />into between the Plan and Investment Monitoring Services should be terminated. Mr. Joseph Bogdahn <br />said in the letter that he had dissolved his association with Investment Monitoring Services and formed a <br />new company called Bogdahn Consulting, LLC. Mr. Bogdahn requested the Board terminate <br />association with Investment Monitoring Services and retain the services of Bogdahn Consulting, LLC. <br />MOTION: Moved by Mrs. Mary Moschler to terminate the relationship with <br />Investment Monitoring Services and retain the services of Bodgahn <br />Consulting, LLC. Seconded by Officer Jason McMullen. Motion <br />carried unanimously by voice vote. <br />The letter dated December 5, 2000 terminating the services of Investment Monitoring Services is attached <br />to and made a part of these minutes. The Board Attorney was instructed to prepare a contract with <br />Bodgahn Consulting, LLC., incorporating the new fee schedule outlined by Mr. Stark. <br />VI. Actuarial Report October 1, 2000 - Foster & Foster <br />Mr. Patrick Donlan, Foster & Foster presented the Actuarial Report dated Octoberl, 2000, which is <br />attached to and made a part of these minutes. <br />MOTION: Moved by Mrs. Mary Moschler to approve the Actuarial Report dated <br />October 1, 2000 as submitted. Seconded by Officer Jason McMullen. <br />Motion carried unanimously by voice vote. <br />