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11-14-19 General Employee Pension Board MinutesPresent: MINUTES General Employees' Pension Board of Trustees Meeting Thursday, November 14, 2019 - 6:30 PM Commission Chamber Troy Stephens, Member Ray Brandstaetter, Chair, General Employees' Pension Board of Trustees Alan Gleit, Member Absent: Timmy Johnson, Dir. of Rec. & Spec. Events Also Present: 1. CALL TO ORDER Melissa Burns, 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 May 9, 2019 regular meeting of the General Employees' Pension Board of Trustees. MOTION: Motion to approve Motion: Ray Brandstaetter Second: Troy Stephens Troy Stephens (Seconded By) For Ray Brandstaetter (Moved By) For Alan Gleit For Motion passed 3 to 0. B. Approve minutes of the September 24, 2019 special meeting of the General Employee Pension Board of Trustees MOTION: Motion to approve Motion: Ray Brandstaetter Second: Troy Stephens General Employees' Pension Board of Trustees November 14, 2019 Troy Stephens (Seconded By) For Ray Brandstaetter (Moved By) For Alan Gleit For Motion passed 3 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 performance report for the quarter ended September 30, 2019. The total value and the end of the quarter was $20,521,927. Report Summary Quarter to date 06/30/19-09/30/19 0.32% Fiscal Year to Date 10/1/2018-09/30/2019 3.24% Performance since Inception 03/10/10-09/30/19 6.45% 3019 COAB Quarterly Report B. Expenditures as of 09/30/19 Non actionable, for discussion and information only General Employees Pension Fund Expenditures C. Fund Balance as of 09/30/19 Non actionable, for discussion and information only. General Employees 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. Future Meeting Dates: February 13, May 14, August 13, and November 12, 2020 B. Discussion of report to the City Commission by the Board Chair A discussion ensued on the content of the report. Ray Brandstaetter will be delivering the 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 a discussion with former attorneys as to the nature of the General Employees' Pension Board of Trustees November 14, 2019 information. D. Board Vacancy - Board needs to select a resident to serve on the board of trustees. Vacancy was discussed, however, no new candidates were brought forward. E. Other new business There was a discussion about a formal pension funding policy. A draft will be brought back to the February meeting. 7. ADJOURNMENT There being no further discussion, Chair Brandstaetter declared the meeting adjourned at 7:50 p.m. Attest: ds'.etter, Chair Melis a Burns, Plan Administrator General Employees' Pension Board of Trustees November 14, 2019