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HomeMy WebLinkAbout2016 08 09 Consent 300 Unapproved Minutes from May 10, 2016 Regular MeetingBOARD OF TRUSTEES AGENDA ITEM ITEM 300 August 9, 2016 Regular Meeting REQUEST: Informational Consent X Public Hearings Regular The Office Of The City Clerk Is Requesting The Board Of Trustees To Review And Approve The Tuesday, May 10, 2016 Board Of Trustees Regular Meeting Minutes ATTACHMENT(S): A. Unapproved Copy Of The Tuesday, May 10, 2016 Board Of Trustees Regular Meeting Minutes (4 Pages) CITY OF WINTER SPRINGS, FLORIDA MINUTES BOARD OF TRUSTEES REGULAR MEETING MAY 10, 2016 CALL TO ORDER Attachment A The Regular Meeting of Tuesday, May 10, 2016 of the Board of Trustees was called to Order by Chairperson Frank Mundo at 5:30 p.m. in the Commission Chambers of the Municipal Building (City Hall, 1126 East State Road 434, Winter Springs, Florida 32708). Roll Call: Chairperson Frank Mundo, present Vice - Chairperson Robin Paris, present Board Member Geoff Kendrick, present Board Member David Withee, present Assistant to the City Clerk Antonia Della Donna, present A moment of silence was held followed by the Pledge of Allegiance. No changes to the Agenda were mentioned. AWARDS AND PRESENTATIONS AWARDS AND PRESENTATIONS 100. Not Used INFORMATIONAL AGENDA INFORMATIONAL 200. Not Used PUBLIC INPUT Chairperson Mundo opened "Public Input ". No one spoke. Chairperson Mundo closed "Public Input ". CITY OF WINTER SPRINGS, FLORIDA MINUTES BOARD OF TRUSTEES REGULAR MEETING - MAY 10, 2016 PAGE 2 OF 4 CONSENT AGENDA CONSENT 300. Office Of The City Clerk The Office of the City Clerk Is Requesting The Board of Trustees Consider And Approve The Tuesday February 9, 2016, Board Of Trustees Regular Meeting Minutes. RELATED TO THE APPROVAL OF THE FEBRUARY 9, 2016 BOARD OF TRUSTEES REGULAR MEETING MINUTES, "SO MOVED." MOTION BY VICE - CHAIRPERSON PARIS. SECONDED BY BOARD MEMBER KENDRICK. DISCUSSION. VOTE: VICE - CHAIRPERSON PARIS: AYE BOARD MEMBER KENDRICK: AYE BOARD MEMBER WITHEE: AYE CHAIRPERSON MUNDO: AYE MOTION CARRIED. PUBLIC HEARINGS AGENDA PUBLIC HEARINGS 400. Not Used REGULAR AGENDA REGULAR 500. Finance And Administration Services Department The Finance And Administrative Services Department Is Requesting The Board Of Trustees Receive From The Bogdahn Group The Second Quarter Investment Return Report And To Enter Into Discussion. Mr. Dave West, Senior Consultant, The Bogdahn Group, 4901 Vineland Road, Suite 600, Orlando, Florida: began the discussion on this Agenda Item and noted that it was a maintenance check -up meeting and referred to the Return Investment Report. Continuing, Mr. West recounted the Second Quarter and addressed the Domestic Equities as well as currency volatility affecting Foreign Investments. Additional comments continued. CITY OF WINTER SPRINGS, FLORIDA MINUTES BOARD OF TRUSTEES REGULAR MEETING - MAY 10, 2016 PAGE 3 OF 4 Mr. West then referenced Financial Figures on Pages 2 and 18 and remarked about percentages and cash flows. Mr. West concluded, "Not really any actions at this time necessary as far as portfolio maintenance. No manager issues, no rebalancing or portfolio maintenance issues to report." Chairperson Mundo asked about future opportunities and market trends. Mr. West mentioned the movement away from hedge funds, the investment in middle market debt, and B1ackRock strategies. Vice - Chairperson Robin Paris inquired about some Actuarial information to which Mr. West stated, "We are on track to make that number, notwithstanding unknown volatility ahead of us." Much discussion followed. 600. REPORTS No Reports were given. PUBLIC INPUT Chairperson Mundo opened "Public Input ". No one spoke. Chairperson Mundo closed "Public Input". Mr. Shawn Boyle, Director, Finance and Administrative Services Department offered to provide the Board a breakdown of investment fees and the other fees that are impacting the pension. CITY OF WINTER SPRINGS, FLORIDA MINUTES BOARD OF TRUSTEES REGULAR MEETING — MAY 10, 2016 PAGE 4 OF 4 ADJOURNMENT 04" t .. Chairperson Mundo adjourned the Regular Meeting at 6:06 p.m. RESPECTFULLY SUBMITTED: ANTONIA DELLA DONNA ASSISTANT TO THE CITY CLERK NOTE: These Minutes were Approved at the 1 2016 Board of Trustees Regular Meeting.