08-12-21 PBOT - Police adopted minutesMINUTES
Police Officers' Pension Board of Trustees
Meeting
Thursday, August 12, 2021 - 6:30 PM
Commission Chamber
Present:
Chase Jamison, Member
Tim Anderson, Member
Robert (Bob) Liggero, Chair
Absent: Ed Peck, Member
Also Present:
Melissa Burns, Director of Finance
David Wheeler, Graystone Consulting
Timothy Haugaard, Graystone Consulting
Pedro Herrera, Pension Board Attorney
1. CALL TO ORDER
2. COURTESY OF THE FLOOR TO VISITORS
3. APPROVAL OF MINUTES
A. Approve minutes of the May 13, 2021 regular meeting of the Police Officers'
Pension Board of Trustees.
MOTION: Motion to approve minutes as presented.
Motion: Robert (Bob) Liggero
Second: Chase Jamison
Chase Jamison (Seconded By) For
Tim Anderson For
Robert (Bob) Liggero (Moved By) For
Motion passed 3 to 0.
B. Approve minutes of the July 15, 2021 special meeting of the Police Officers' Pension
Board of Trustees
ACTION: Motion to approve minutes as presented.
Motion: Robert (Bob) Liggero
Second: Chase Jamison
Chase Jamison (Seconded By) For
Police Officers' Pension Board of Trustees
August 12, 2021
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Tim Anderson
Robert (Bob) Liggero (Moved By)
Motion passed 3 to 0.
For
For
4. REPORTS
A. Recap of investment performance for the period ended June 30, 2021
David Wheeler and Timothy Haugaard presented the 2nd Quarter 2021 Performance
Report. The total value at the end of the quarter was $15,571,669.98.
Quarter to Date (4/1/2021-6/30/2021) - 6.30%
Performance Since Inception (03/10/10-6/30/2021) - 7.86%
Mr. Wheeler recommended allocation adjustments to increase return on investments.
These adjustments are within the Asset Allocation Guidelines.
ACTION: Motion to approve recommendation to adjust asset allocations.
Motion: Tim Anderson
Second: Robert (Bob) Liggero
Chase Jamison For
Tim Anderson (Moved By) For
Robert (Bob) Liggero (Seconded By) For
Motion passed 3 to 0.
B. Expenditure report for the period ended June 30, 2021
Report is for informational purposes only. No discussion occured.
C. Fund Balance report for the period ended June 30, 2021
Report is for informational purposes only. No discussion occured.
5. DISCUSSION WITH PENSION BOARD ATTORNEY
A. Items for Discussion
Attorney Herrera reminded board members that the required Form 1 was due to the
Supervisor of Elections on July 1st; and to submit the form as soon as possible if had not
been done already.
Attorney Herrera also announced that there is board training available at the FTPPA
conference to be held October 3-6 at Sawgrass.
Police Officers' Pension Board of Trustees
August 12, 2021
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6. NEW BUSINESS
A. Approval of proposed FY 2021-2022 Budget
The proposed FY22 budget was presented for approval. Anticipated revenues were based
on the actuarial assumptions that were outlined in the October 1, 2020 Actuarial
Valuation.
ACTION: Motion to approved FY22 budget as presented.
Motion: Tim Anderson
Second: Robert (Bob) Liggero
Chase Jamison For
Tim Anderson (Moved By) For
Robert (Bob) Liggero (Seconded By) For
Motion passed 3 to 0.
7. ADJOURNMENT
There being no further discussion, Chair Liggero declared the meeting adjourned at 8:15 p.m.
Attest:
Melissa Burns, Plan Administrator
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Viten, hair
Police Officers' Pension Board of Trustees
August 12, 2021
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