02-28-2007EDGEWATER POLICE PENSION BOARD
REGULAR MEETING
February 28, 2007
City Hall Conference Room
Minutes
CALL TO ORDER
Secretary Dan Blazi called The Police Pension Board Regular Meeting to order on
Wednesday February 28, 2007 at 1:10 p.m. in the City Hall Conference Room.
ROLL CALL
Secretary Blazi conducted the Roll Call for the Police Pension Board Meeting. Members
present were Daniel Blazi, Melecia Williams, and Lawrence Leaf. A quorum was
established. Also present were Jack Asherl agent of record, John Asherl.
APPROVAL OF MINUTES
Secretary Blazi called for a review and approval of the Minutes for the January 31, 2007
Edgewater Police Pension Board Regular Meeting.
MOTION
Malecia Williams made a motion to accept the minutes as read. Lawrence Leaf seconded
this motion.
Motion carried unanimously
NEW BUSINESS
Fund Statement
Jack Asherl started by informing us that Jim Robinson would be attending the next
regular meeting. Mr. Robinson would be informing the board about investment options.
Other topics of discussion would be hedge funds and securities.
Jack Asherl presented the fund statement 10 -01 -06 through 01- 31 -07. The beginning
balance 7,029,411.58. Additions were 132,169.19. Investment return was 343,074.47.
Annualized return was 14.64 %.
Jack Asherl then showed the breakdown on the performance of individual investments
within the plan. Discussion followed.
OLD BUSINESS:
Investment Policy Review:
The investment policy review was tabled for later meetings.
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With no further business to discuss, Secretary Blazi called for a motion to adjourn.
MOTION
Lawrence Leaf made a motion to adjourn. Malecia Williams seconded this motion.
Motion carried unanimously
The meeting was adjourned at 1:30 p.m.
Secretary Dan Blazi