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Police Officers' and Firefighters' Pension Board <br />December 5, 2000 <br />Page 3 <br />VII. Approval of Expenditure Report <br />MOTION: Moved by Officer Jason McMullen to approve the expenditure report as <br />Submitted. Seconded by Mrs. Mary Moschler. Motion carried <br />unanimously by voice vote. <br />VIII. Attorney'seport - Scott Christiansen <br />Mr. Scott Christiansen said a copy of the ordinance passed by the City Commission taking out part time <br />employees was sent to Charles Slavin and Patricia Shoemaker in Tallahassee. He also passed out copy of <br />changes made to the Investment Policy at the last Board meeting, which is Section D. He stated that a <br />requirement of the new legislation requires the Board declare expected actuarial returns on investments <br />over the next year and next several years in a letter to Charles Slavin with a copy of the Investment <br />Policy and copies be sent to the City Manager and Foster & Foster. <br />MOTION: Moved by Officer Jason McMullen that a letter declaring an 8% expected <br />return of the Fund Investment over the next year and next several years <br />and over the long term; a copy of the Investment Policy be sent to Charles <br />Slavin in Tallahassee, with copy of letter and Investment Policy to the City <br />Manager and Foster & Foster. Seconded by Mrs. Mary Moschler. Motion <br />carried unanimously by voice vote. (A copy of the letter is attached to and <br />made a part of these minutes.) <br />Mr. Christiansen passed out information regarding changes in the Financial Disclosure law. Effective <br />January 2001, newly appointed members have to file financial disclosure within 30 days; anyone leaving <br />the Board has to file a report within 60 days. Returns not received by the Supervisor of Elections by <br />September 1st will accrue a $25.00 a day fine. <br />Mr. Christiansen asked that the Board increase attorney's fees from $180 an hour to $210 an hour, <br />effective January 1, 2001, amounts to a 3% increase. <br />MOTION: Moved by Officer Jason McMullen to approve the request from Mr. <br />Christiansen to increase attorney's fees from $180 an hour to $210.00 per <br />hour. Seconded by Mrs. Mary Moschler. Motion carried unanimously by <br />voice vote. <br />