02-25-1998
'-' ...."
Edgewater Police Pension Plan
Board of Trustees
P.O. Box 489
Edgewater, Florida 32132
Minutes
A meeting of the Board of Trustees of the City of Edgewater Retirement Board was called
to order at 2:06 p.m. on February 25, 1998, at the Edgewater Community Center.
Call To Order:
Chairman Gary Conroy called the meeting to order. Members present were Ferd Heeb,
Gary Conroy, Ruth Garvey and Bill Lenz. Also present was Jack Ascher!, and Sue Griffiths,
Recording Secretary. Members absent were Glenn Barnhill.
Approval of Minutes:
After brief discussion, Ferd Heeb made a motion to accept the minutes of the
December 12, 1997 meeting as written, seconded by Ruth Garvey.
Glenn Barnhill
Ferd Heeb
Gary Conroy
Bill Lenz
Ruth Garvey
Motion carried 4 - 0
New Business:
1 ) Valuation Report
Absent
yes
yes
yes
yes
Jack Ascher! joined the meeting to explain how the monies switch from IPG to FPI
had no cost effect. All investment were showing a good percentage of growth since
the change from general accounts to individual in the short period of time since they
have been there.
Motion: The motion to accept the valuation report as given by Jack Asheryl was made by
Ferd Heeb and it was seconded by Ruth Garvey.
Glenn Barnhill
Ferd Heeb
Gary Conroy
Bill Lenz
Ruth Garvey
Motion Carried 4-0
Absent
Yes
Yes
Yes
Yes
Jack Ascherlleft the meeting at 3:05 PM.
2)
'-'
Annual Report:
....,;
Gary Conroy dispersed a copy of the annual report to all members present for there
perusal. Gary Conroy discussed the. annual report with the board members present
and pointed out that dividends were high due to the payout of funds to Mr. Larry
Westfall.
Motion: Motion was made by Ferd Heeb to accept the annual report as presented in
. writing, seconded by Ruth Harvey.
Glenn Barnhill
F erd Heeb
Gary Conroy
Bill Lenz
Ruth Garvey
Motion carried 4 - 0
Miscellaneous:
Absent
Yes
Yes
Yes
Yes
1) Gary stated all members have a copy of the Summary of Accounts for the year to
look over at their leisure.
2) Gary also stated that upon attending the FPPT A Conferance he gained information
he felt needed to be discussed by board. Gary stated the a summary plan should be
given to all members each year so that the members will have knowledge of where
and what the funds are doing. Ferd Heeb stated that this is something all members
of the board had knowledge of and that if not being done that the distribution of
a summary plan be given to each member in the near future. Gary Conroy stated
that he planned to get the summary out soon.
Motion: There being no further items to be discussed a motion was made by Ferd Heeb to
adjourn the meeting, seconded by Ruth Harvey.
Glenn Barnhill
Ferd Heeb
Gary Conroy
Bill Lenz
Ruth Garvey
Motion carried 4 - 0
Absent
yes
yes
yes
yes
Meeting was adjourned by Gary Conroy at 3:24 P.M.