11-17-1992
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Edgewater Firefighters' Pension Fund
Minutes
Regular Meeting
Tuesday, November 17, 1992
Conference Room, City Hall
6:40 P.M.
The Regular Meeting of the Firefighters' Pension Fund was
called to Order by Chairman Al Gilbert on Tuesday,
November 17, 1992 at 6:40 p.m. in the Conference Room of
City Hall.
ROLL CALL: Members present were: Firefighter James
Castetter, Mr. Ben Wagner, and Chairman Al Gilbert. Chief
william C. Vola and Mr. Robert Morin were absent. Also
present were Mr. Steve Burkhalter from Shearson Lehman
Brothers and Recording Secretary Lisa R. Warren.
APPROVAL OF THE MINUTES: The Minutes for the September 30,
1992 Regular Meeting were submitted for approval. Mr.
Wagner moved to accept the Minutes as submitted.
Firefighter Castetter seconded. Motion CARRIED 3-0.
NEW BUSINESS: Chairman Gilbert introduced Mr. Steve
Burkhalter from Shearson Lehman Brothers to make his
recommendations to the Board regarding investments. Mr.
Burkhal ter went over the most recent statement with the
Board to see if there were any questions. He stated the
current Money Fund Balance as of November 16, 1992 was
$12, 368.08. Mr. Burkhalter discussed investment options
wi th the Board. Mr. Wagner moved to accept Mr.
Burkhal ter ' s recommendation to buy a Federal Home Loan
Mortgage Bond for $10,000 at 7.5% for 3 1/2 years.
Firefighter Castetter seconded. Motion CARRIED 3-0. The
Board thanked Mr. Burkhalter for his presentation and he
left at this time.
Chairman Gilbert discussed fees charged by the State
Department of Administration and Finance to have them go
over the pension plan.
There was discussion regarding the process of getting
information from Shearson Lehman by the City. It was noted
that although the information is public record, the
procedure to get it is to go through the Board. Shearson
Lehman also changed the Pension Fund to the second billing
cycle so that it would include the last day of the month.
This would allow the City to have all of September in the
statement for the end of the year figures.
UNFINISHED BUSINESS: Chairman Gilbert
apologies for the time it has taken to set
fund for William Finch. He stated it would
of shortly.
CHAIRMAN'S REPORT: Chairman Gilbert stated that no one had
been able to go to the Conference in Tampa in September.
He added there would be another one in February or March
to be held in Gainesville.
offered his
up a pay back
be taken care
ADJOURNMENT: Chairman Gilbert stated there would be no
meeting held in December. He wished everyone a Happy
Holiday Season. There being no more business to come
before the Board at this time, Mr. Wagner moved to
adjourn. Meeting adjourned at 7:10 p.m.
If any person decides to appeal any decision made by the pension
Board of Trustees with respect to any matter considered at the above
meeting, that person will need a record of the proceedings and, for
such purpose, may need to ensure that a verbatim record of the