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2-8-24 GBPOT Adopted MinutesMINUTES ;s General Employees' Pension Board of Trustees Meeting J Thursday, February 8, 2024 - 6:30 PM City Hall, Commission Chamber Present: Emanuel Brown, Member Donald Galli, Civilian Member Appointed by Commission Jeff Newman, Member Absent: Gary Smith, Member Also Present: Brittany Percell, Finance Director (FD) 1. CALL TO ORDER Meeting Called To Order at 6:30 p.m. 2. COURTESY OF THE FLOOR TO VISITORS 1 Visitor - No Comments 3. APPROVAL OF MINUTES A. Approve minutes of the August 10, 2023 regular meeting of the General Employees' Pension Board of Trustees. MOTION. To Approve Meeting Minutes Motion: Jeff Newman Second. Emanuel Brown Emanuel Brown (Seconded By) For Donald Galli For Jeff Newman (Moved By) For Motion passed 3 to 0. B. Approve minutes of the November 9, 2023 regular meeting of the General Employees' Pension Board of Trustees. MOTION. To Approve Meeting Minutes Motion: Emanuel Brown Second. Jeff Newman Emanuel Brown (Moved By) Donald Galli For For General Employees' Pension Board of Trustees February 8, 2024 Page 1 of 3 Jeff Newman (Seconded By) For Motion passed 3 to 0. 4. DISCUSSION OF FORM 1- STATEMENT OF FINANCIAL INTERESTS Lead By Police Officers' Trustee Tim Anderson and Pension Board Attorney (Pedro). New reporting requirements require filers to report on dollar thresholds, as there is no longer a percentage option. Trustees must file electronically on the State Ethics Commission portal. A fine up to $11,500 will be imposed on non -filers. Deadlines are: * Current Trustees - July 1, 2024 * Newly Appointed Trustees - Within 30 days of fust meeting * Resigning Trustees - Within 60 days of resignation 5. REPORTS A. Recap of investment performance for the period ended December 31, 2023 and subsequent activity Graystone Investment Consultants David Wheeler and Tim Haugaard presented 4th quarter 2023 performance reports. The total value at the end of the quarter was $25,816,224. Current Quarter Performance - 8.69% Performance Since Inception - 7.59% MOTION. Approve Reallocation Recommendations As Presented Motion: Jeff Newman Second: Emanuel Brown Emanuel Brown (Seconded By) For Donald Galli For Jeff Newman (Moved By) For Motion passed 3 to 0. B. Report on Manager Search MOTION: Approve Manager Recommendations As Presented Motion: Jeff Newman Second: Emanuel Brown Emanuel Brown (Seconded By) For Donald Galli For General Employees' Pension Board of Trustees February 8, 2024 Page 2 of 3 Jeff Newman (Moved By) Motion passed 3 to 0. For 6. DISCUSSION WITH PENSION BOARD ATTORNEY Briefly Discussed Sunshine Law 7. OLD BUSINESS 8. NEW BUSINESS A. Dates of Future Pension Board Meetings: May 9th, August 8th and November 14th, 2024 B. Change In Employee Status: Mack Stanford 9. Attest: MOTION. Approval of Status Change Motion: Jeff Newman Second: Emanuel Brown Emanuel Brown (Seconded By) Donald Galli Jeff Newman (Moved By) Motion passed 3 to 0. C. Election of Board Officers: • Chair • Vice -Chair • Secretary Tabled Until Next Meeting For For For ADJOURNMENT There being no further discussion meeting declared adjourned at 8:22p.m. Brittany Percell, Plan Administrator .Ray 1�aiidrt;Lit r, Chair -je ff— A0gt V,VX-44 General Employees' Pension Board of Trustees February 8, 2024 Page 3 of 3