2010-11-08 General Fund Meeting•
CITY OF OKEECHOBEE AND OKEECHOBEE UTILITY
AUTHORITY PENSION BOARD MEETING MINUTES
NOVEMBER 8, 2010
CITY HALL
55 SE THIRD AVENUE
OKEECHOBEE, FL 34974
CALL TO ORDER: 5:07 P.M. by Chairman Jamie Mullis
TRUSTEE ATTENDANCE: Jamie Mullis, Chairman
Betty Clement, Trustee �
Linda Tewksbury
OTHERS PRESENT: Scott Christiansen, Attorney
Basil Coule, Financial Liaison
David Kelly
Tim Nash
Page 1
Mr. Scott Christiansen stated the meeting dates for 2011. All agreed. He also reported on the IRS favorable
determination letter on Governmental Defined Benefit pians. I t was agreed by the Board to defer application to the
IRS to the next cycle which is between February 1, 2013 and January 31, 2014.
Mr. Christiansen explained the letter regarding the Gabriel, Roeder & Smith contract and fiduciary responsibility. He
reported they are within the scope of acceptable fees. May be a little on the high end. The Board decided to retain
GRS.
Mr. David Kelly from Bowen, Hanes & Company reported September's finish in the double digits. He believes 2012
is looking up.
Mr. Tim Nash reported on the 2°d Quarter 2010 Report for the Bogdahn Group. All sectors of the market doing well.
He stated there are bond concerns.
City GenerallOUA Pension board of Trustees Items:
Trustee Mullis moved to approve the August 2, 2010 minutes; seconded by Trustee Tewksbury. Motion carried
unanimously.
Motion was made by Trustee Mullis, to approve Financial Reports items 1-5 of the agenda, Gabriel, Roeder contract
and DiBartolomeo, McBee Hartley & Bames contract; second by Trustee Tewksbury. Motion carried
Motion was made by Trustee Mullis to approve the re-election of officers, Jamie Mullis as Chair and Betty Clement as
Secretary; seconded by Trustee Clement. Motion carried.
There being no further business, the meeting was adjoumed at 6:26 p.m.
Respectfully submitted
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Betty J. Clement, Secretary