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HomeMy WebLinkAbout2006 04 25 Board of Trustees Regular Minutes CITY OF WINTER SPRINGS, FLORIDA MINUTES BOARD OF TRUSTEES - PENSION PLAN REGULAR MEETING APRIL 25, 2006 CALL TO ORDER The Board of Trustees - Pension Plan Regular Meeting was called to order by Chairman Robert Nippes on Tuesday, April 25, 2006 at 7:32 p.m. in the City Commission Chambers of the Municipal Building (City Hall, 1126 East State Road 434, Winter Springs, Florida 32708). Roll Call: Chairman Robert Nippes, present Vice Chairman A. Mark Sardo, present Board Member Guy DeMaio, present Board Member Byron Giltz, present Board Member Vemon Rozelle, Jr., present After a moment of silence, Chairman Robert Nippes led the Pledge of Allegiance. ++ AGENDA NOTE: THE FOLLOWING REGULAR AGENDA ITEM WAS AN ADD-ON AND WAS DISCUSSED FIRST, FOLLOWED BY THE REST OF THE AGENDA, AS DOCUMENTED. ++ REGULAR AGENDA REGULAR ADD-ON Finance Department Review Of Trusco Capital Management Financial Statements. Ms. Molly A. Balcom, Investment Officer, Trusco Capital Management, 300 South Orange Avenue, Suite 1600, Orlando, Florida: summarized the Investment Review Booklets and stated, "This was asked about atlast quarter's Meeting - 'Fiscal Year End Performance' for 2004 and 2005. I highlighted it in yellow there and the top number of the total Portfolio Performance would be the fiscal year total number." Discussion. Chairman Nippes asked, "Recommendation would be Status Quo?" Ms. Halcom said, "Yes. I think we are in a good position." CITY OF WINTER SPRINGS, FLORIDA MINUTES BOARD OF TRUSTEES REGULAR MEETING - APRIL 25, 2006 PAGE20F4 PUBLIC INPUT No one spoke. A WARDS AND PRESENTATIONS AWARDS AND PRESENTATIONS 100. None PUBLIC BEARINGS AGENDA PUBLIC HEARINGS 200. None REGULAR AGENDA REGULAR 300. Finance Department Advising The Board Of Trustees Of The Results Of The RFP (Request For Proposal) For Procurement Of On-Going 3rd Party Pension Advisory Services To The City Of Winter Springs nermed Benefit Pension Plan. Mr. Kevin Smith, Director, General Services Department, introduced this Agenda Item and gave a brief overview of the two (2) firms that responded. Board Member Byron Giltz said, "Rather than wait a whole quarter, could we call a Special Meeting and just have them come and interview them?" Mr. Smith said, "Absolutely. " "I MOVE THAT WE HAVE A SPECIAL MEETING TO INVITE THESE TWO (2) PENSION INVESTMENT ADVISORS/CONSULTANTS, BURGESS, CHAMBERS AND ASSOCIATES, INC. AND BOGDAHN CONSULTING, LLC. SOMETIME IN BETWEEN NOW AND - MAY 30m (2006) WOULD BE IDEAL." MOTION BY BOARD MEMBER GILTZ. SECONDED BY BOARD MEMBER ROZELLE. DISCUSSION. WITH CONSENSUS OF THE BOARD, THE MOTION WAS APPROVED. MOTION CARRIED. CITY OF WINTER SPRINGS, FLORIDA MINUTES BOARD OF TRUSTEES REGULAR MEETING - APRIL 25, 2006 PAGE30F4 CONSENT AGENDA CONSENT 400. Office Of The City Clerk Approval Of The January 31, 2006 Regular Meeting Minutes. Board Member Vernon Rozelle, Jr. asked Ms. Joan Brown, Deputy City Clerk to review page five (5) of the Minutes. Ms. Brown stated, "We will review the tape." Chairman Nippes asked, "Do I have a Motion to accept the Minutes?" "MOTION." MOTION BY VICE CHAIRMAN SARDO. SECONDED BY BOARD MEMBER ROZELLE. DISCUSSION. WITH CONSENSUS OF THE BOARD, THE MOTION WAS APPROVED. MOTION CARRIED. Tape 1 IS ide B INFORMATIONAL AGENDA INFORMATIONAL 500. General Services Department Updating The Board Of Trustees On The Status Of The Pension Attorney's Revision Of The City Of Winter Springs Defined Benefit Pension Plan. Mr. Smith presented this Agenda Item. In regard to the cost of the "Revision", Board Member Giltz said, "Just for the Record, the [City] Commission had some concern with that and that was part of the delay. Had to go back to Mr. [James] Linn, [Attorney, Lewis, Longman & Walker, P.A.] and get a little more clarification on the exact reason for that and bring it back to the [City] Commission a second time." 600. REPORTS Regarding opportunities for Training, Mr. Smith spoke to the City's Financial Advisor for a list of available classes. Mr. Smith said, "I will get that to the Board as soon as possible." Board Member Rozelle asked, "Steven Alexander, [CCM, Pension Investment Advisor, Public Financial Management, Inc.] can we maybe get him to forward those to Ms. Debbie Franklin (Deputy City Clerk) and have her email us with some of these educational opportunities when they get a chance to do that and forward to us?" CITY OF WINTER SPRINGS, FLORIDA MINUTES BOARD OF TRUSTEES REGULAR MEETING - APRIL 25, 2006 PAGE40F4 Ms. Brown, Deputy City Clerk said, "Yes, we can do that." Mr. Smith stated, "Sure. As soon as I receive it from Mr. Alexander, I will forward it to the Clerk's Office." Board Member Rozelle said, "Rather than wait until the next Meeting." Mr. Smith said, "Okay." FUTURE AGENDA ITEMS None were noted. ADJOURNMENT "I MOVE THAT WE ADJOURN." MOTION BY BOARD MEMBER GILTZ. SECONDED. DISCUSSION. WITH CONSENSUS OF THE BOARD, THE. MOTION WAS APPROVED. MOTION CARRIED. Chairman Nippes adjourned the Meeting at approximately.S:20 p.m. RESPECTFULLY SUBMllTED: J AN L. BROWN EPUTY CITY CLERK NOTE: These Minutes were approved at the Julv 25 ,2006 Board of Trustees Regular Meeting.