HomeMy WebLinkAbout080907 rm agn & min AGENDA
MEETING OF THE BOARD OF TRUSTEES
CITY OF SANFORD FIRE FIGHTERS' RETIREMENT SYSTEM
AUGUST 9, 2007, AT 9:00 A.M.
IN THE RAILROAD DEPOT ROOM
AT THE CITY HALL
CITY OF SANFORD, SANFORD FLORIDA
I. Call to order
II. Approval of Minutes
a) May 10, 2007
III. Dahab
IV. Trusco
V. Approval of Payments
pp Y
a) Christiansen & Delmer $ 759.07
b) Christiansen & Dehner $ 127.63
c) Christiansen & Delmer $ 100.26
d) Foster & Foster $ 9,094.00
e) Dahab $ 1,821.69
f) Suntrust $17,065.49
VI. Foster & Foster — Discussion of Renewal of Contract
VII. Presentation by Susy Pita, Pension Plan Administrator for the City of Sanford
Police Officer's Pension
VIII. Scott Christiansen — Legal Issues
IX. Other Business
ADVISE TO THE PUBLIC: If a person decides to appeal a decision made with respect to any matter
considered at the above meeting of hearing, he may need a verbatim record of the proceedings, including the
testimony and evidence, which record is not provided by the City of Sanford (FS 286.0105)
Persons with disabilities needing assistance to participate in any of these proceedings should contact the
Personnel Office ADA Coordinator at (407) 330 -5626, forty-eight hours in advance of meeting.
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MINUTES
Meeting of the Board of Trustees
City of Sanford Firefighters' Retirement System
August 9, 2007, at 9:00 A.M.
Railroad Depot Room
City Hall, Sanford, Florida
Members Present:
Bill Kirchhoff, Trustee
John Smith, Trustee
Robert Vaughn, Trustee
Craig Radzak, Trustee
Member Absent
Thomas Hickson, Trustee
Others in Attendance:
Jim Poulalion, Finance Director
Sarah Battles, Administrative Assistant
Scott Christiansen, Christiansen & Dehner
Greg McNeillie, Dahab, Inc.
Blake Myton, Trusco
Susy Pita, Police Pension Plan Administrator
Mr. Kirchhoff called the meeting to order at 9:05 a.m.
Mr. Kirchhoff asked for a motion to approve the Minutes for the May 10, 2007 meeting.
Mr. Smith stated that there was a correction to be made on May's Minutes in the last
paragraph on page two in which it should read, "Mr. Smith made a Motion to approve
funds for this program which would be $750 to $850 per person and all other funds
associated with the certification of the Trustees." Mr. Vaughn made a motion to approve
the Minutes with corrections and Mr. Smith seconded the motion. Motion carried.
Mr. McNeillie with Dahab gave the investment manager's report.
Mr. Myton with Trusco gave the quarterly report.
Mr. Kirchhoff stated that it would be beneficial for Dahab to show the net funds after all
the fees have been taken out so that the Board could have a clearer picture of everything.
Mr. Poulaion asked Mr. Myton and Mr. McNeillie about the bond market. Mr. McNeillie
stated that the investments that are doing well at this time our mostly in foreign markets
and real estate.
Mr. Kirchhoff asked for a motion to approve the payments to the following:
1.) Christiansen & Dehner $ 759.07
2.) Christiansen & Dehner $ 127.63
3.) Christiansen & Dehner $ 100.26
4.) Foster & Foster $ 9,094.00
5.) Dahab $ 1,821.69
6.) Suntrust $17,065.49
Mr. Kirchhoff asked for a motion to approve the payments. Mr. Vaughn made the
motion and Mr. Smith seconded the motion and motion passed.
Mr. Kirchhoff asked for a discussion regarding Foster & Foster's contract. Mr.
Christiansen gave the presentation. Mr. Vaughn made a motion to approve the contract
and direct Mr. Christiansen to draw up the document and Mr. Smith seconded the motion
and motion passed.
Susy Pita gave a presentation regarding her work with other cities involving 10 different
pension plans including the City of Sanford Police Pension Plan. The board asked Ms.
Battles to make copies of Susy's resume and the resume from the other applicant who
gave a presentation at a prior Police Pension Board meeting so that they could review and
make a decision at the next board meeting.
Mr. Christiansen asked the board if everyone had filed their financial disclosure forms.
Mr. Christiansen asked Ms. Battles to telephone Mr. Hickson to verify if he had done so.
Mr. Christiansen asked for a copy of the Addendum Agreement regarding a fee chance to
the Firefighters' Pension with Christiansen & Dehner.
Mr. Christiansen stated that Mr. Smith and Mr. Hickson's terms were up for re- election
on October 1, 2007.
Mr. Christiansen mentioned to Ms. Battles that he needed a copy of the Addendum to the
Agreement in regards to the rate increase for attorney's fees.
Mr. Christiansen discussed the proposed Ordinance with changes. Mr. Vaughn
mentioned that the Engineer Incentive and the Specialty Pay needed to be included. Mr.
Smith made a motion to approve the revised Ordinance and to direct Mr. Christiansen to
draw up the paperwork and Mr. Vaughn seconded the motion and the motion passed.
Mr. Christiansen discussed the Pension Protection of 2006 and pre -tax for medical
insurance. Mr. Christiansen stated that he would prepare the new forms.
In Other Business, Mr. McNeillie invited the board members to their client conference in
Long Island on October 2 through 3 Mr. Vaughn made a motion to approve
reimbursement by the pension fund for transportation and lodging to the Dahab
Conference and Mr. Smith seconded the motion and motion passed.
There being no other business to come before the Board, meeting was adjourned at 10:45
a.m.
Chairman Thomas Hickson Robert Vaughn
Chairman Secretary