HomeMy WebLinkAbout2021 08 23 Board of Trustees Regular Meeting Minutes CITY OF WINTER SPRINGS, FLORIDA
MINUTES
BOARD OF TRUSTEES
REGULAR MEETING
AUGUST 23, 2021
CALL TO ORDER
Chairperson David Withee called the Regular Meeting of Monday, August 23, 2021 of
the Board of Trusteesto order at 5:33 pm in the Commission Chambers (City Hall,1126
East State Road 434, Winter Springs, Florida 32708).
Roll Call:
Chairperson David Withee, present
Vice-Chairperson Barbara Watkins, present
Board Member Michael Blake, present
Board Member John Ripley, present
Board Member Marco Santoro, present
Assistant City Clerk Tristin Motter, present
A moment of silence was followed by the Pledge of Allegiance.
AWARDS AND PRESENTATIONS — NOT USED
INFORMATIONAL AGENDA — NOT USED
PUBLIC INPUT
Chairperson Withee opened Public Input
No one spoke
Chairperson Withee closed Public Input
CONSENT AGENDA
300) Minutes from the Thursday, May 13, 2021 Board of Trustees Regular
Meeting
"MOVE FOR APPROVAL." MOTION BY BOARD MEMBER BLAKE. SECONDED BY
BPARD MEMBER RIPLEY. DISCUSSION.
CITY OF WINTER SPRINGS,FLORIDA
MINUTES
BOARD OF TRUSTEES
REGULAR MEETING-AUGUST23,2021
PAGE 2OF3
VOTE:
BLAKE (AYE); RIPLEY (AYE); WATKINS (AYE); SANTORO (AYE); WITHEE (AYE)
MOTION CARRIED.
PUBLIC HEARINGS AGENDA — NOT USED
REGULAR AGENDA
SOO)Quarterly Investment Return Report from AndCO Consulting
Winter Springs General (Quarterly Report]
Mr. Dave West, Senior Consultant,AndCo Consulting, 4907 Vineland Road, Suite 600,
Orlando, Florida gave a review of the Quarterly report given to the Board including
the allocated assets and the rebalanced active quarter. Mr. West gave an additional
review of the July "Winter Spring General Flash Report" for the Board. Which
included the positive bond fund fiscal Year-to-date increase and a review of the real
estate allocation. Mr. West additionally gave a review of the "Winter Springs General
(Quarterly Report)" relaying the asset value growth being at an all-time high.
Questions in ensued on some specific allocations by the Board and Mr. West relayed
the position was appropriate. Recommendation was given as no immediate
rebalance recommendation.
"I WOULD LIKE TO MAKE A MOTION THAT WE ACCEPT THE REPORT FROM
ANDCO WITH NO SPECIFIC RECOMMENDATIONS." MOTION BY CHAIRPERSON
WITHEE. SECONDED BY BOARD MEMBER WATKINS. DISCUSSION.
VOTE:
WITHEE (AYE); RIPLEY (AYE); WATKINS (AYE); BLAKE (AYE); SANTORO (AYE)
MOTION CARRIED.
501)GRS Actuarial Valuation Report of the Defined Benefit Plan
Actuarial Valuation Report
Ms. Shelly Johnson, ASA, EA. FCA, MAAA, CFA, Consultant and Actuary, GRS
Consulting, One East Broward Blvd, Suite SOS, Fort Lauderdale, Florida gave a history
and review of the provided "Actuarial Evaluation Report." Further discussion ensued
on liability, Employee rate, account contribution and sustainability for the City
between the Board, Ms. Johnson and City Manager Shawn Boyle.
CITY OF WINTER SPRINGS,FLORIDA
MINUTES
BOARD OF TRUSTEES
REGULAR MEETING—AUGUST23,2021
PAGE 3OF3
"I MAKE THE MOTION TO ACCEPT THE ACTUARIES VALUATION REPORT FOR 2020
AND MOVE FORWARD TO COMMISSION FOR THEIR ACCEPTANCE." MOTION BY
BOARD MEMBER BLAKE. SECONDED BY CHAIRPERSON WITHEE. DISCUSSION.
VOTE:
RIPLEY (AYE); WATKINS (AYE); SANTORO (AYE); WITHEE (AYE); BLAKE (AYE)
MOTION CARRIED.
REPORTS
PUBLIC INPUT
Chairperson Withee opened Public Input
No one spoke
Chairperson Withee closed Public Input
ADJOURNMENT
Chairperson Withee adjourned the Regular Meeting at 7:01 p.m.
RESPECTFULLY SUBMITTED:
TRISTIN MOTTER
ASSISTANT CITY CLERK
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NOTE: These Minutes were approved at the November 30,2021 Board of Trustees Regular Meeting.