1992-09-28 Police Fund MeetingCITY OF OKEECHOBEE
POLICE PENSION FUND MEETING
SEPTEMBER 28, 1992
TRUSTEE'S PRESENT: LARRY COONFARE, JULIAN STINNETT AND
STEVE NELSON
MEETING IS COMBINED WITH POLICE, FIRE AND GENERAL
EMPLOYEE'S BOARDS PRESENT.
MEETING CALLED TO ORDER AT 6:58 P.M.
MOTION BY STEVE NELSON TO ACCEPT THE MINUTES OF THE
MARCH 30, 1992 MEETING. SECONDED BY JULIAN STINNETT.
MOTION WAS UNANIMOUSLY CARRIED.
MOTION BY STEVE NELSON TO APPROVE THE FOLLOWING
EXPENDITURES: $357.25 TO CHRISTIANSON, DEHNER & WATTS,
ATTORNEY, $1913.98 TO INVESCO, MONEY MANAGERS, AND
$1333.33 TO SHEARSON, LEHMAN BROS., PERFORMANCE MONITORS.
SECONDED BY JULIAN STINNETT. MOTION UNANIMOUSLY CARRIED.
BOARDS DISCUSS THE ANNUAL FUNDS AUDITING. LOLA PARKER
ADVISES THAT THE NEW CITY AUDITOR WILL BE J.D.GILBERT
ACCOUNTING AND AUDITING IN BOYNTON BEACH. J.D.GILBERT HAS
ADVISED LOLA PARKER THAT IF THEY PERFORM THE ANNUAL AUDITS
FOR THE FUNDS THEY FEEL THAT THEY CAN OFFER AT LEAST A
THIRTY PERCENT SAVINGS ON THE ANNUAL AUDIT. AFTER
DISCUSSION IT WAS AGREED BY EACH FUND THAT IT WOULD BE IN
THE BEST INTEREST OF EACH FUND TO USE OUR CURRENT AUDITOR
FOR THIS YEARS ANNUAL AUDIT.
Nw- MOTION BY STEVE NELSON AUTHORIZING HILL, BARTH & KING,
AUDITORS TO COMPLETE THE ANNUAL AUDIT FOR THE POLICE
PENSION FUND. SECONDED BY JULIAN STINNETT. MOTION WAS
UNANIMOUSLY CARRIED.
FURTHER DISCUSSION ON POSSIBLE CHANGE OF AUDITORS WAS
TABLED UNTIL OUR NEXT QUARTERLY MEETING.
BOARDS DISCUSS THE PROPOSED PLAN DRAFTS. IT IS AN AGREED
FACT THAT THE CITY OF OKEECHOBEE WILL NOT FUND THE
DEFICITS FOR IMPROVING THE PLANS. FURTHER DISCUSSION IS
TABLED UNTIL OUR NEXT QUARTERLY MEETING. IT IS HOPED THAT
OUR ANNUAL FINANCIAL REPORTS WILL SHOW AN IMPROVED GAIN
THUS ALLOWING THE PLANS TO IMPLEMENT THE PROPOSED PLAN
DRAFTS WITHOUT FURTHER COST TO THE CITY OR TO THE PLAN
MEMBERS.
CITY OF OKEECHOBEE
POLICE PENSION FUND MEETING
SEPTEMBER 28, 1992
BOARDS DISCUSS THE LEGALITY OF KEEPING A PERFORMANCE
MONITOR. LARRY COONFARE IS TO CONTACT THE FUNDS LEGAL
COUNCIL, ACTUARIAL FIRM AND ACCOUNTING FIRM TO INQUIRE AS
TO WHETHER THEY FEEL THE PERFORMANCE MONITOR SHOULD BE
RETAINED BY THE BOARDS. LARRY COONFARE IS TO REPORT HIS
FINDINGS AT THE NEXT QUARTERLY MEETING.
BERNICE ELDERS ADVISES THE BOARDS THAT SHE IS EXCEEDING
THE MONTHLY CHECK LIMIT ON OUR PRESENT MONEY MARKET
CHECKING ACCOUNT. IF THE FUNDS ISSUE MORE THAN THREE
CHECKS PER MONTH THERE ARE ADDITIONAL CHARGES FOR EACH
ADDITIONAL CHECK ISSUED. BERNICE HAS CONTACTED OTHER
BANKING INSTITUTIONS THAT OFFER A BETTER CHECKING ACCOUNT
THAN OUR PRESENT BANK. SHE ADVISES THAT BIG LAKE NATIONAL
BANK OFFERS THE BEST CHECKING ACCOUNT FOR THE FUNDS.
MOTION BY JULIAN STINNETT AUTHORIZING BERNICE ELDERS TO
TRANSFER OUR PRESENT CHECKING ACCOUNT TO AN ACCOUNT AT BIG
LAKE NATIONAL BANK. SECONDED BY STEVE NELSON. MOTION WAS
UNANIMOUSLY CARRIED.
MOTION BY STEVE NELSON TO ADJOURN THE MEETING. SECONDED BY
JULIAN STINNETT. MOTION WAS UNANIMOUSLY CARRIED.
MEETING ADJOURNED AT 7:57 P.M.
POLICE FUND
POLICE FUND