HomeMy WebLinkAboutCity Council Committees - Fireman's Relief and Pension Board - 04/01/2014 pllF�hmvvm»»umllA�lllplW
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Firemen's Relief & Pension Board Minutes
April 1, 2014
Board Members present: Council President Dana Ralph, City Clerk Ronald Moore,
Sam Grubbs, Al Bond
Others present: Assistant Finance Director Paula Barry, Senior Financial Analyst
Susanne Shaw
Council President Ralph called the meeting to order at 3:36 p.m.
Minutes of January 7, 2014. Al Bond moved to approve the minutes of
January 7, 2014, as written, seconded by Council President Ralph. Motion
carried 4-0.
Financial Transactions for December. January, and February 2014. Barry
discussed the transactions. She noted that the fair market value fluctuates and
decreases because interest rates remain study and the investment is getting close
to maturity. However, she communicated in February that will change.
Al Bond moved to accept the financials for December, January, and
February 2014, as presented, seconded by Council President Dana Ralph.
Motion carried 4-0.
Actuarial Study. Barry communicated there will be an actuarial study in 2014.
Cost of Living Allowance, Information. Senior Financial Analyst Shaw stated
that there will be a 1.22% COLA increase and the first check will be sent to
members on April 20.
Board Position No. 1 — Election. City Clerk Ronald Moore communicated that
the term for Position No. 1 expires on July 1, 2014 and he would be sending out
nomination forms to conduct an election and announce the results at the July 1,
2014 meeting.
Other Business. Barry communicated that the State Pool continues to drop and
that there needs to be a determination made on where to reinvest funds. She
confirmed with Bond that there isn't a penalty to do this.
Adiournment. The meeting adjourned at 3:50 p.m.
Ronald F. Moore, MMC
City Clerk
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