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HomeMy WebLinkAbout2005 01 25 Consent 200 Approval of the October 26, 2004 Regular Meeting MinutesCITY OF WINTER SPRINGS MINUTES BOARD OF TRUSTEES -PENSION PLAN REGULAR MEETING OCTOBER 26, 2004 I. CALL TO ORDER The Board of Trustees -Pension Plan Regular Meeting was called to order by Chairman Robert Nippes on Tuesday, October 26, 2004 at 7:30 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 Vernon Rozelle, present Board Member Vincent Giannoni, arrived at 7:44 p.m. Board Member Mark Queen, present Board Member Tim Pesut, absent Chairman Nippes led the Pledge of Allegiance. II. CONSENT AGENDA CONSENT A. Approval Of The May 26, 2004 Regular Meeting Minutes. "I MOVE THAT WE APPROVE THE REGULAR MEETING MINUTES FROM THE LAST MEETING AS WRITTEN." MOTION BY BOARD MEMBER QUEEN. SECONDED BY BOARD MEMBER ROZELLE. DISCUSSION. WITH CONSENSUS OF THE BOARD THE MOTION WAS APPROVED. MOTION CARRIED. CITY OF WINTER SPRINGS MINUTES BOARD OF TRUSTEES REGULAR MEETING -OCTOBER 26, 2004 PAGE 2 OF 4 III. REGULAR AGENDA REGULAR A. Review Of Trusco Capital Management Financial Statements. Mr. Blake Myton, Investment Officer, CCM, Trusco Capital Management, 300 South Orange Avenue, Suite 1600, Orlando, Florida: introduced himself to the Board of Trustees, then summarized the performance of the City's Portfolio over the last quarter. Board Member Vincent Giannoni arrived at 7:44 p. m. Discussion ensued regarding the "Investment Policy". Mr. Myton stated, "I would strongly urge you - to take a look at that Investment Policy. Again, it has been a while since we have updated it. Perhaps we can look at -maybe putting some different language that allows a little more flexibility." Furthermore, Mr. Myton stated, "I would strongly suggest we maybe going zero (0) or ten percent (10%) or fifteen percent (15%) or lowering that a little bit." City Manager Ronald W. McLemore stated, "We need to go to the [City] Commission with a written recommendation from this Board." Chairman Nippes stated, "Is that something that you -can come up with; some sort of a recommendation?" Manager McLemore stated, "Oh, yes, once this group gets comfortable with a recommendation, then, yes I can style it up and get it before Commission. I think I would a little more specific language, exactly what you are talking about." Mr. Myton stated, "I will look at the current investment policy and the ranges and make some recommendations and fax them over to you [Manager McLemore] or email them to you [Manager McLemore]." Discussion. With further discussion on the "Investment Policy" recommendations, Board Member Mark Queen stated, "Maybe we can prepare to discuss at the next Meeting." Chairman Nippes stated, "Do you think this is something we need to act on right away? Or - do you think we can wait a quarter?" Manager McLemore stated, "We can get together for thirty (30) minutes and do it." Furthermore, Manager McLemore stated, "I will call you all as soon as I get it [recommendation]." Mr. Myton stated, "I will formalize these recommendations." REGULAR B. Election Of Officers. Chairman Nippes discussed "Election of Officers". Board Member Vernon Rozelle stated, "I Nominate Mark Queen to be the Chairman." Discussion. Board Member Rozelle stated, "I withdraw my Nomination." CITY OF WINTER SPRINGS MINUTES BOARD OF TRUSTEES REGULAR MEETING -OCTOBER 26, 2004 PAGE 3 OF 4 Chairman Nippes stated, "We are almost at the end of the year, we can stay as we are, we just need to have a Motion to continue as we are. After the first of the year we can retook at it." Discussion. `~I NOMINATE YOU TO STAY - AS CHAIRMAN." MOTION BY BOARD MEMBER GIANNONI. SECONDED BY VICE CHAIRMAN ROZELLE. DISCUSSION. WITH CONSENSUS OF THE BOARD THE MOTION WAS APPROVED. MOTION CARRIED. "I NOMINATE MARK QUEEN TO BE THE VICE CHAIRMAN." MOTION BY VICE CHAIRMAN ROZELLE. SECONDED BY CHAIRMAN NIPPES. WITH CONSENSUS OF THE BOARD THE MOTION WAS APPROVED. MOTION CARRIED. IV. FUTURE AGENDA ITEMS This Agenda Item was not discussed. V. REPORTS Discussion ensued regarding "Attendance Issues" with Manager McLemore. Discussion ensued contacting the Board Members for attendance. Ms. Greco stated, "That is what I will start doing -Debbie (Deputy City Clerk Debbie Franklin) calls and I will email and if I haven't heard from you I will send you again an email and then I will call you at home reminding you to check your email." Chairman Nippes stated, "A couple of weeks beforehand I think an email will be great and then maybe the week before a `reminder' and maybe a `call' and I think that would do it." There were no objections from the Board Members. Tape 1/Side B Ms. Greco stated, "At what point do you send the Agenda out?" Deputy City Clerk Franklin stated, "The Agenda and -support documentation goes out [approximately] two (2) weeks prior to the Meeting." Chairman Nippes stated, "I think that as far as the City is concerned I think they are doing everything." With discussion regarding missed emails, Board Member Queen stated, "I am just concerned about the email." Ms. Greco stated, "I will just make sure that our records are updated and I will email you all at one time." The Member List was circulated for the Board Members to review and verify contact information. CITY OF WINTER SPRINGS MINUTES BOARD OF TRUSTEES REGULAR MEETING -OCTOBER 26, 2004 PAGE 4 OF 4 VI. ADJOURNMENT "MOTION TO ADJOURN." MOTION BY BOARD MEMBER QUEEN. SECONDED. DISCUSSION. WITH CONSENSUS OF THE BOARD THE MOTION WAS APPROVED. MOTION CARRIED. Chairman Nippes adjourned the Meeting at 8:22 p.m. RESPECTFULLY SUBMITTED: DEBBIE FRANKLIN DEPUTY CITY CLERK NOTE: These Minutes were approved at the 2005 Boazd of Trustees (Pension Plan) Meeting.