11-14-19 PO Pension Board MinutesPresent:
MINUTES
Police Officers' Pension Board of Trustees
Meeting
Thursday, November 14, 2019 - 6:30 PM
Commission Chamber
William (Bill) Tomson, Chair
Chase Jamison, Member
Tim Anderson, Member
Robert (Bob) Liggero, Member
Absent: David Cameron, Member
Also Present:
1. CALL TO ORDER
Melissa Bums, Director of Finance
Sidney Taylor, Graystone Consulting -Orlando
David Wheeler, Graystone Consulting -Tampa
Commissioner Cindy Anderson -Commission Liaison
Mayor Ellen Glasser
2. COURTESY OF THE FLOOR TO VISITORS
None
3. APPROVAL OF MINUTES
A. Approve minutes of the August 15, 2019 regular meeting of the Police Officers'
Pension Board of Trustees.
MOTION: Motion to approve.
Motion: William (Bill) Tomson
Second: Chase Jamison
William (Bill) Tomson (Moved By) For
Chase Jamison (Seconded By) For
Tim Anderson For
Robert (Bob) Liggero For
Motion passed 4 to 0.
B. Approve minutes of the September 24, 2019 special meeting of the Police Officers'
Pension Board
MOTION: Motion to approve.
Police Officers' Pension Board of Trustees
November 14, 2019
Motion: William (Bill) Tomson
Second: Chase Jamison
William (Bill) Tomson (Moved By) For
Chase Jamison (Seconded By) For
Tim Anderson For
Robert (Bob) Liggero For
Motion passed 4 to 0.
4. REPORTS
A. Recap Investment Performance for the period ended 09/30/19 and subsequent
activity
David Wheeler of Graystone Consulting Tampa and Sidney Taylor of Graystone
Consulting Orlando presented the investment activity for quarter ended September 30,
2019. The ending portfolio value is $11,772,297.
Return Summary
Quarter to Date 06/30/19-09/30/19 0.32%
Fiscal Year to Date 10/01/2018-09/30/2019 3.60%
Performance Since Inception 03/10/10-09/30/19 6.40%
3Q19 COAB Quarterly Report
B. Expenditures through 9/30/19
Non actionable, for discussion and information only.
Police Pension Fund Expenditures
C. Fund Balance Report through 9/30/19
Non actionable, for discussion and information only.
Police Pension Fund Balance Report
5. DISCUSSION WITH PENSION BOARD ATTORNEY
Attorney Herrera gave a refresher on the State of Florida Ethics Laws related to gifts. There
were no actionable items.
6. NEW BUSINESS
A. Dates of Future Pension Board Meetings:
February 13, May 14; August 13 and November 12, 2020
Item for information and discussion only.
Police Officers' Pension Board of Trustees
November 14, 2019
B. Discussion of report to the City Commission by the Board Chair
A discussion ensued on the content of the report. Bill Tomson will be delivering report
to the Commission at its Regular Meeting on November 25, 2019.
C. Decision on whether or not to obtain files from former board attorney
Christiansen & Dehner, P.A.
Attorney Herrera will have discussion with former attorneys as to the nature of the
information.
D. Other New Business
There was a discussion about a formal pension funding. A draft will be brought back
to the February meeting.
7. ADJOURNMENT
There being no further business, Chair Bill Tomson adjourned the meeting at 7:50 P.M.
Attest:
William Tomson, Chair
Police Officers' Pension Board of Trustees
November 14, 2019