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2019-08-05 General Meeting & All Funds Individual MeetingsCITY OF OKEECHOBEE GENERAL EMPLOYEES/POLICE/FIRE PENSION BOARDS REGULAR MEETING MINUTES, August 5, 2019 CITY HALL, 55 SE THIRD AVENUE OKEECHOBEE, FL 34974 1. CALL TO ORDER N athan Pippin called the meeting of the Board of Trustees for the City of Okeechobee General Employees, Police, and Firefighter Pension Boards to order at 5:02 PM in the Council Chamber at City H all. Those persons present included: TRUSTEES OKEECHOBEE GENERAL N athan Pippin, Chairman Jackie Dunham, Secretary Willie Hall, Jr. D aryl Roehm TRUSTEES POLICE Bettye Taylor - Secretary James Pickering Ray Worley 2. PUBLIC COMMENT There were no public comments at this time. 3. REPORTS OTHERS Kyle Tintle, Wanda Gordon & Scott Baur, Resource Centers Scott Christiansen Attorney, Christiansen & Dehner John McCann, AndCo TRUSTEES FIREFIGHTERS Herb Smith, Chairman Adam Crum, Secretary John Koepke Josh Sanders Investment Report (John McCann) Mr. McCann provided the quarterly investment reports for each Board's review. He presented the reports for the period ending June 30, 2019. Mr. McCann continued reviewing the performance of the portfolios for the General Employees', Firefighters' and Police Plans. The General Plan ended the quarter with $4,969,329 versus last quarter ending with a balance of $4,829,681 in assets the Fire Plan e nded the quarter with assets of $4,310,683 versus the previous quarter's ending balance of $4,196,697; the Police Plan ended the quarter with $9,507,343 in assets versus last quarter's balance of $9,230,983 in assets. Mr. McCann reviewed the asset allocations for each Plan. He continued with the n umbers for the quarter: General Employees 3.44% versus the policy of 3.74% a difference of -0.30%• Fire 3.43% versus the policy of 3.69%, a difference of -0.26%P and Police 3.50% versus the policy of 3.69% a difference of -0.19%. Mr. McCann reviewed the fiscal year to date numbers, one year, three year, five year, and the returns since inception for each of the Plans. Attorney Report (Scott Christiansen) Mr. Christiansen reported on the Trustee terms for Police. He stated there was still a vacancy for an appointment by the City and that Ryan Holroyd is the 5th trustee but he is not a City resident. He noted Okeechobee Police has only two officers living in the City. Mr. Christiansen reported for Fire stating Josh Sanders term concludes at the end of September. He noted the Fire Board may want to re-elect him for another term at the next Fire Board meeting. Mr. Christiansen reported for Police they will need to hold e lections for a new Chairman and Secretary. He verified the Administrative Budgets for Police and Fire were going to be reviewed at tonight's meeting. Mr. Christiansen inquired regarding the status of the State checks. They were not yet issued and noted the Boards should be prepared to allocate those receipts. Mr McCann stated he will give the allocations to Ms. Tintle. Mr. Christiansen provided an u pdate on the four ordinances. He reported that he was in attendance for the first reading of the Meeting August 5, 2019 Page 2 of 4 o rdinances and all four ordinances were adopted on the first reading. He then asked if the four o rdinances were sent to Tallahassee. Ms. Gordon confirmed the ordinances were sent to Tallahassee. Mr. Christiansen stated Fire the will need a new ordinance to incorporate the cancer bill provisions. Mr. Christiansen is meeting a labor attorney to address the new requirements. He further stated the u pdated Summary Plan Description for Fire includes a reference to the new requirement. Mr. Christiansen checked on Form 1 filings and everyone completed their Form l's. Ms. Bettye Taylor advised that the City is considering on an inter -local agreement on Fire Department merger with County. Mr. Christiansen explained each member gets to choose to stay in the 175/185 plan or go into FRS with the county. He further noted, retired members are not impacted at all. The Police and Fire Boards considered possible transition circumstances to the County. Administrative Report (Kyle Tintle, Resource Centers, LLC) Kyle Tintle provided Chapter 112.664 Compliance Report to the Boards. Ms. Tintle introduced Ms. Wanda Gordon as the new Plan Administrator for all 3 Plans. She further mentioned that she would still be available to assist Ms. Gordon thru the end of November but then would transition to her new role with the Resource Centers. There being no further business, the Boards adjourned the open session at 6:11 PM and the Trustees proceeded to their individual sessions. Ms. Gordon attended the Firefighters Board, Ms. Tintle attended the Police Board and Mr. Baur attended the General Board meeting. INDIVIDUAL SESSION: GENERAL EMPLOYEES The meeting began with a review of the May 6, 2019 meeting minutes. Jackie Dunham made a motion to accept the Quarterly Meeting Minutes for the May 6, 2019 meeting as amended to indicate Nathan Pippin was present as well as the one who opened the meeting. The motion received a second from Willie Hall, approved by the Trustees 4-0. Scott Baur presented the Board with the financial statements for June 2019. The financial statements were received and filed. The quarterly expenses were reviewed by the Trustees. Daryl Roehm made a motion to approve the Warrants presented for June 25, 2019 and July 12, 2019. The motion received a second from Willie Hall, approved by the Trustees 4-0. Scott Baur presented the Board with the new employee's acknowledgements for Hannah Jackson and Wade Wheeler. The acknowledgments were received by the Board. The new employee acknowledgements were accepted by consensus. Motion was made by Jackie Dunham to approve the Summary Plan Description contingent upon Ordinance 1190 being approved by City Council at the Final Reading on 8-6-19. Second by Daryl Roehm, approved by the Trustees 4-0. There being no further business, the Board was adjourned at 6:18 P Secretary Meeting August 5, 2019 INDIVIDUAL SESSION: POLICE BOARD Page 3 of 4 Bettye Taylor called the individual meeting of the City of Okeechobee Police Officers' Retirement System to order. The Trustees welcomed James Pickering to the Board. He has already completed and submitted the required Form 1 to the Supervisor of Election. Ms. Tintle explained they needed to hold an election for Chairman of the Board to fill the vacancy left by Jack Boon. Ray Worley made a motion to nominate Ryan Holroyd as Chairman of the Board of Trustees for the Okeechobee Police Officers' Retirement System. The motion received a second by James Pickering approved by the Trustees 3-0. The Board reviewed the minutes from the Quarterly Meeting which was held on May 6, 2019. Bettye Taylor made a motion to approve the meeting minutes for the Quarterly Meeting of the Okeechobee Police Officers' Retirement System held on May 6 2019. The motion received a second by James Pickering approved by the Trustees 3-0 Ms. Tintle presented the Board with the Interim Financial Statements. The Trustees received the financials and they were accepted by consensus and filed. The Board reviewed the expenses for the quarter. Ray Worley Taylor made a motion to approve the warrant from June 25, 2019 for the Okeechobee Police Officers' Retirement System. The motion received a second by James Pickering approved by the Trustees 3-0. Ms. Tintle presented the Trustees with the benefit approval for Jack Boon for the Trustee's review. Bettye Taylor made a motion to approve the benefit approval for Jack Boon. The motion received a second by James Pickering approved by the Trustees 3-0 The Trustees reviewed the new member acknowledgement for Brandi Drapal, Ramon Liberato, and Trenton Moutschka. Bettye Taylor made a motion to approve the new member acknowledgement for Brandi Drapal, Ramon Liberato, and Trenton Moutschka to the Okeechobee Police Officers' Retirement System. The motion received a second by Ryan Holroyd approved by the Trustees 3-0. Ms. Tintle directed the Trustees to review the Administrative Budget and Cost of Living Increases. She explained that the budget included the actual expenses for the past fiscal year and projected the Plan's spending for the fiscal year. The budget, once approved will be filed with the City. Bettye Taylor made a motion to approve the Administrative Budget. The motion received a second by James Pickering approved by the Trustees 3-0. The Cost of Living Increase vote will have to be postponed until the next quarterly meeting to have a quorum without Bettye Taylor as she will need to recuse herself from the vote. Meeting August 5, 2019 Page 4 of 4 INDIVIDUAL SESSION: FIRE BOARD Herb Smith called the individual meeting of the City of Okeechobee Municipal Firefighters' Pension Fund to order. The Board reviewed the minutes from the Quarterly Meeting which was held on May 6, 2019. Adam Crum made a motion to approve the Quarterly Meeting Minutes held on May 6, 2019. The motion received a second by Josh Sanders approved by the Trustees 4-0. The Cost of Living Increase vote will have to be postponed until next quarterly meeting to have a quorum without Herb Smith as he will need to recuse himself from the vote Ms. Gordon presented the Board with the 2019-2020 Administrative Budget. The Board reviewed the 2019-2020 Administrative Budget. Adam Crum made a motion to approve the 2019-2020 Administrative Budget. The motion received a second by Herb Smith, approved by the Trustees 4-0. Ms. Gordon presented the Board with the Interim Financial Statements. The Trustees received the financials and they were accepted by consensus and filed. The Board reviewed the expenses for the quarter. Adam Crum made a motion to approve the Warrants for June 25, 2019. The motion received a second by Herb Smith, approved by the Trustees 4-0. Ms. Gordon presented the Trustees with the benefit approval for Gordon Sanders for the Trustee's review. Josh Sanders completed a Form 8B to recuse himself from this vote. Adam Crum made a motion to approve the benefit approval for Gordon Sanders. The motion received a second by Herb Smith, approved by the Trustees 4-0. The Board had a brief discussing regarding the re-election of Josh Sanders. Adam Crum made a motion to approve the re-election of Josh Sanders. The motion received a second by Herb Smith, approved by the Trustees 3-0. Seeing there was no other business the Fire Board adjourned their individual session at 6:30 PM.