PB 03/03/2003 Minutes - Laserfiche WebLink

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Police Officers/Firefighters Pension Board Meeting March 3, 2003 Page 2 III. Selection of Vice Chairman MOTION: Moved by Mr. Dale Christensen to nominate Mr. Frank A. Schutte as Vice Chairman of the Police Officers and Firefighters Pension Board of Trustees. Motion was seconded by Police Officer Robbin Lilly and carried unanimously by voice vote. IV. Approval of Minutes - December 2, 2002 The City Clerk had circulated a corrected version of the December 2, 2002 meeting with corrections noted by Mr. Frank A. Schutte. Mr. Schutte also stated that under the motion to excuse Mr. Hank Giffen, it was incorrectly stated excuse absence of Mr. Dale Christensen. All corrections were noted and corrected. MOTION: Moved by Mr. Frank A. Schutte to approve the December 2, 2002 Minutes as corrected. Motion was seconded by Mr. Dale Christensen and approved unanimously by voice vote. V. Presentation by Lance Powers - Investment Report from TRUSCO Capital Management Mr. Lance Powers TRUSCO Capital Management presented the Investment Report for the Police Officers' and Firefighter Pension Plan. The total assets of the Fund for the year ending December 31, 2002 was $1,195,300.84. The report was accepted by the Board of Trustees as presented. The complete report is available for inspection with the City Clerk of the City of Casselberry. VI. Presentation by Bill Stark - Bogdahn Consulting Mr. Bill Stark, Bogdahan Consulting, presented the performance evaluation report of the investment manager, TRUSCO Capital Management. The investments made by TRUSCO for the quarter ending December 31, 2002, are in compliance with the investment policy established by the board, even though TRUSCO had a negative number, it was almost 3% better than policy. Since Bogdahn started monitoring the fund in October 1998, the fund is over I% better than policy established by the Board.