02-28-2006
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EDGEW ATER POLICE PENSION BOARD
REGULAR MEETING
Tuesday February 28, 2006
City Manager Conference Room
Minutes
CALL TO ORDER:
Chairman Gary Conroy called The Police Pension Board Regular Meeting to order
on Wednesday February 26, 2006 at 1:03 p.m. in the City Manager Conference
Room.
ROLL CALL:
Secretary Dan Blazi conducted the Roll Call for the Police Pension Board Meeting.
Members present were Gary Conroy, Ferdinand Heeb, Daniel Blazi, and Lawrence
Leaf. At 1 :07 p.m. Malecia Williams was present. A quorum was established. Also
present was Jack Acherl Agent of Record, and John Acherl.
APPROVAL OF MINUTES:
Chairman Conroy Called for an approval of the Minutes for the December 1, 2005
Edgewater Police Pension Board Regular Meeting.
Ferdinand Heeb noted that the motion to keep the Board Attorney Bill up to date
was in error, and the minutes had shown that within that section, the motion
addressed another issue. Dan Blazi stated that had been due to a typographical
error on his part.
MOTION
Ferdinand Heeb made a motion to amend the minutes to show the motion in
reference to keeping the Board Attornev Bill up to date. Dan Blazi seconded this
motion
Motion carried Unanimously
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MOTION
Ferdinand Heeb made a motion to accept the minutes as amended. Lawrence Leaf
seconded this motion.
Motion carried Unanimously
NEW BUSINESS:
Bill from Burgess Chambers:
The Bill from Burgess Chambers for services rendered was in. The bill was for the
amount of $5,500.
MOTION
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Ferdinand Heeb made a motion to pay the bill from Burgess Chambers. Dan Blazi
seconded this motion.
Motion carried Unanimouslv
Miscellaneous:
Chairman Conroy included in the meeting package the RFP for review. Chairman
Conroy announced to Lawrence Leaf a school available in Tallahassee on March 17,
2006, if he was interested in attending. Chairman Conroy then showed the expenses
for the fund selection service, and what the Board was paying Principal for the last
quarter. The amount was for $1,222.04.
Fund Statement and Due Diligence Report:
Jack Ascherl presented the Fund Statement for the period of 10-01-05 through 01-
31-06. The report included a Summary of accounts, and the ending balance by
accounts. Jack Ached then presented an Asset Allocation Change Proposal from
Principal. The Board accepted the proposal. Jack Ascherl concluded by showing
the Due Diligence Program Quarterly Review.
Review of Investment Policy Statement:
The Board reviewed the Investment Policy Statement for training purposes. Section
1 of the Investment Policy Statement was reviewed, and discussed. This review was
requested to be part of a standard practice during each scheduled meeting.
Rene Green:
Chairman Conroy announced that the plaque for Rene Green cost $62. Chairman
Conroy stated he had already presented the plaque to Rene Green, who was very
moved by the presentation.
Martha Miles:
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Chairman Conroy announced that Martha Miles had received information from
Principal as to her retirement options.
Other:
Chairman Conroy announced that March 17, 2006 was the scheduled date for a
special meeting with Bogden Consulting. Chairman Conroy also tentatively set a
date of March 29, 2006 as the next scheduled regular meeting.
With no further business to discuss, a motion was called to adjourn.
MOTION
Dan Blazi made a motion to adiourn. This was seconded by Ferdinand Heeb.
Motion carried Unanimouslv
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The meeting was adiourned at 2: 15p.m.
Minutes submitted by: Secretary Dan Blazi
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