11-18-21 PBOT - Police adopted minutesMINUTES
Police Officers' Pension Board of Trustees
Meeting
Thursday, November 18, 2021 - 6:30 PM
Commission Chamber
Present: Chase Jamison, Member
Tim Anderson, Member
Absent: William (Bill) Tomson, Chair
Robert (Bob) Liggero, Chair
Ed Peck, Member
Also Present:
Melissa Burns, Director of Finance
Pedro Herrera, Board Attorney, Sugarman & Susskind, P.A.
David A. Wheeler, Graystone Consulting
Timothy P. Haugaard, Graystone Consulting
1. CALL TO ORDER
2. COURTESY OF THE FLOOR TO VISITORS
3. APPROVAL OF MINUTES
A. Approve minutes of the August 12, 2021 regular meeting of the Police Officers'
Pension Board of Trustees.
Quorum not met.
4. REPORTS
A. Recap of investment performance for the period ended September 30, 2021 and
subsequent activity.
David Wheeler and Timothy Haugaard presented the 3rd Quarter 2021
Performance Report. The total value at the end of the quarter was $26,573,875.95.
Quarter to Date (7/1/2021-9/30/2021) - (0.71)%
Performance Since Inception (03/10/2010-9/30/2021) - 7.62%
B. Expenditure report for the period ended September 30, 2021
Report for informational purposes only. No discussion occurred.
C. Fund balance report for the period ended September 30, 2021.
Police Officers' Pension Board of Trustees
November 18, 2021
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Report for informational purposes only. No discussion occurred.
5. DISCUSSION WITH PENSION BOARD ATTORNEY
A. Items for discussion.
Attorney Herrera reminded board members about their obligations regarding
accepting gifts set forth by the Florida Ethics laws as they are considered public
officials.
Advised the board that the firm of Sugarman and Susskind will be making a
charitable donation on the board's behalf as their holiday gift which has been
valued at $25 or less, no reporting requirements are necessary.
Attorney Herrera informed the board that the winter Trustees School through the
FTPPA is scheduled for January 23-26, 2022 in Orlando. The Division of Retirement
has not announced its training yet, but it is usually held in the spring.
6. NEW BUSINESS
A. Cash flow needs.
There is an excess of cash in the Pension Plan's pooled cash account. It is recommended
that $600,000 be moved to the investment accounts per the allocations from David A.
Wheeler of Graystone Consulting. No motion is required.
7. ADJOURNMENT
There being no further discussion, Chair
Attest:
declared the meeting adjourned at 7:09 p.m.
Me issa Burns, Plan Administrator , Chap )
Police Officers' Pension Board of Trustees
November 18, 2021
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