HomeMy WebLinkAbout2007-02-19 Police & Fire Pension Board Minutes airy eLr29K
City of Dania Beach
Police and Fire Fighters Retirement System
113 S.W. 1 Street
Dania Beach, Florida 33004
Phone: (954) 921-0404 Fax: (954) 921-1403
E-mail: PFPENS@bellsouth.net
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MINUTES
FEBRUARY 19, 2007
REGULAR MEETING
I. CALL TO ORDER
MOTION: by Commissioner Anne Castro to call the meeting to order.
SECOND: Vince Marlin
PASSED UNANIMOUSLY
Meeting began 7:35 PM
MEMBERS PRESENT: MEMBERS ABSENT:
Chairman Larry Rogers Butch Bolton
Chairman Vince Marlin John Williamson
Secretary Beulah Lair
Wardell Lee
Ted Spongross
Carolyn Jones
Commissioner Anne Castro
ALSO PRESENT:
Attorney Robert Sugarman - Sugarman &Susskind, PA
Mike Welker— Bogdahn Consulting
Carl Ashley — Capital Management Associates
II. APPROVAL OF MINUTES
MOTION: by Vince Marlin to accept minutes from the January 22, 2007
meeting as submitted.
SECOND: Ted Spongross
PASSED UNANIMOUSLY
February 19, 2007
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III. CONSENT AGENDA
No items listed on the Consent Agenda
IV. OLD BUSINESS
4.1 S. Davis &Associates. P.A.
Chairman Rogers opened discussion with the Board Attorney and
Board of Trustees in reference to additional billing from S. Davis &
Associates, P.A. As stated in the S. Davis letter the accounting firm is
charging $24,366.50 for additional time spent on the September 30, 2005
audit and is willing to accept $12,183.25.
MOTION by Commissioner Anne Castro for the administrator to contact
S. Davis &Associates, P.A. to obtain the itemized hours and description
of the services performed in relation to the corrections of Trustee
Statements due to the transfers of data from the old statement to the
new statement of the Plan in order to bill Salem Trust for the additional
work.
SECOND: by Vince Marlin
PASSED UNANIMIOUSLY
4.2 Steven I. Gordon, CPA
Chairman Rogers opened discussion with the Board of Trustees
Regarding Steve Gordon's bill for $9,375.00 for preparation of the
Plan's Audited Financial Statements for the year ended
September 30, 2006. Also included is the Plan's Representation
Letter to Steve Gordon for signature.
MOTION by Vince Marlin to pay Steve Gordon $9,375.00 for preparation
of the Plan's Audited Financial Statements for the year ended
September 30, 2006 and sign the Representation Letter and
return to Steve Gordon.
SECOND. by Commissioner Anne Castro
PASSED UNANIMIOUSLY
4.3 Resolution to Adopt Public Records Retention
Chairman Rogers opened discussion with Attorney Sugarman
to adopt a resolution providing for the adoption of the state's
recommended records retention schedule.
MOTION by Commissioner Anne Castro to pass the resolution
And mail the resolution to the State.
SECOND by Vince Marlin
PASSED UNANIMIOUSLY
February 19, 2007
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V. NEW BUSINESS
5.1 +st Ouarter Performance Review—Capital Management
Carl Ashley reviewed Capital Management Associate's performance
for that firm's portion of the Fund for the quarter ending
December 31, 2006. Capital Management Associate's report is
incorporated into these February 19, 2007 minutes by reference.
5.2 Boadahn Consulting - 1" Ouarter Performance Summary
Mike Welker then reviewed the Fund's total performance
summary for the quarter ending December 31, 2006.
The report is incorporated into these minutes by reference.
5.3 ICC CAPITAL MANAGEMENT
Mike Welker reviewed with the Board ICC Capital Management's
performance. ICC Capital Management's is` Quarter Report is
incorporated into these minutes by reference.
VI. CORRESPONDENCE
VII. NEW EMPLOYEE APPLICATIONS
7.1 Tim Knutson
7.2 Carlos D. DeLao
7.3 Marlon Tharp
7.4 Michael Maloney
Chairman Rogers reviewed with the Board application documents for
the new fire fighters.
MOTION by Ted Spongross to accept the new applicants into the Plan
SECOND: by Wardell Lee
PASSED UNANIMIOUSLY
VIII. RETIREMENTS / TERMINATIONS
8.1 John O'Keefe
8.2 Manuel Gonzalez
IX. OPEN DISCUSSION AND INFORMATION
Attorney Sugarman brought the Board up to date on the class action
suits that are pending and new legislature currently being considered
in the state.
X. ADJOURN
MOTION by Vince Marlin to adjourn meeting
SECOND: by Commissioner Anne Castro
Meeting adjourned at 9.15 PM