05-14-20 PBOT - Police Adopted Minutes 1s 1.:.y MINUTESsrPoliceOfficers' Pension Board of Trustees
Meeting
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Thursday, May 14, 2020 - 6:30 PM
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Videoconference
Present: William(Bill)Tomson, Chair
Tim Anderson,Member
Robert(Bob)Liggero,Member
Ed Peck,Member
Absent: Chase Jamison,Member
Also Present: Melissa Burns, Director of Finance
David Wheeler,Graystone Consulting,Tampa
Timothy Haugaard, Graystone Consulting,Tampa
Commissioner Candace Kelly,Commission Liaison
Nicolas Lahaye,Gabriel Roeder Smith
Pedro Herrera,Board Attorney
1. CALL TO ORDER
2. COURTESY OF THE FLOOR TO VISITORS
None
3. APPROVAL OF MINUTES
A. Approve minutes of the February 13, 2020 regular meeting of the Police Officers'
Pension Board of Trustees.
MOTION: Motion to Approve
Motion: Ifilliam (Bill) Tomson
Second: Tim Anderson
William (Bill) Tomson (Moved By) For
Tim Anderson (Seconded By) For
Robert(Bob)Liggero For
Ed Peck For
Motion passed 4 to 0.
4. REPORTS
A. Recap of Investment Performance for the period ended March 31, 2020 and
subsequent activity by David Wheeler and Timothy Haugaard of Graystone
Police Officers'Pension Board of Trustees
May 14,2020
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Consulting,Tampa
David Wheeler and Timothy Haugaard of Graystone Consulting Tampa presented the
investment activity for the quarter ended March 31, 2020. The ending portfolio value is
10,451,652. A recommendation was made to move funds from Cash/Money Market
to Small/Mid-Cap Equity.
Return Summary
Quarter 01/01/2020-03/31/2020 16.93%
Performance Since Inception 4.45%
Atlantic Beach 10 2020
MOTION:Motion to accept recommendation to move funds from Money Market to
Small/Mid-Cap Equities.
Motion: Tim Anderson
Second: William (Bill) Tomson
William (Bill) Tomson (Seconded By) For
Tim Anderson (Moved By) For
Robert(Bob)Liggero For
Ed Peck For
Motion passed 4 to 0.
B. Expenditures through March 31, 2020
Non-actionable, for discussion and information only.
C. Fund Balance Report through March 31, 2020.
Non actionable, for discussion and information only.
D. Presentation of annual actuary report by Nicolas Lahaye of Gabriel Roeder Smith
and Company.
The annual actuarial report was presented by Nicolas Lahaye of Gabriel Roeder Smith
and Company. The funded ratio is 81.4% compared to 78.7% last year.
MOTION: To approve annual actuarial report as presented.
Motion: Tim Anderson
Second: William (Bill) Tomson
William (Bill) Tomson (Seconded By) For
Tim Anderson (Moved By) For
Robert (Bob) Liggero For
Police Officers' Pension Board of Trustees
May 14,2020
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Ed Peck For
Motion passed 4 to 0.
5. DISCUSSION WITH PENSION BOARD ATTORNEY
A. Policy Regarding Teleconferencing
Attoney Herrera presented and discussed Policy Regarding Teleconference and Video
Conference Meetings.
MOTION: Motion to approve policy
Motion: William (Bill) Tomson
Second: Robert(Bob)Liggero
William (Bill) Tomson (Moved By) For
Tim Anderson For
Robert(Bob)Liggero(Seconded By)For
Ed Peck For
Motion passed 4 to 0.
B. Other Items for Discussion
No actionable items were discussed.
6. NEW BUSINESS
None
7. ADJOURNMENT
There being no further discussion, Chair Tomson declared the meeting adjourned at 8:45 p.m.
Attest:
11 11.4. r
Melis a Burns, Pla' Administrator William T•mson, Chair
Police Officers' Pension Board of Trustees
May 14,2020
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