HomeMy WebLinkAboutCity Council Committees - Fireman's Relief and Pension Board - 12/07/1999 (3) Firemen' s Relief & Pension Board
December 7, 1999
Boardmembers Present : Judy Woods, Sam Grubbs, Alternate
Gene Grenstad, Brenda Jacober
Others Present : John Hillman
Grubbs called the meeting to order at 3 : 02 p.m.
Approval of Minutes. Woods moved to approve the minutes of
October 5, 1999 . Grenstad seconded and the motion carried.
Approval of September and October Financial Transactions.
Hillman distributed copies of the September and October
financial reports and explained that approximately $367, 000
was made in sales in September, and $1, 337, 000 worth of new
investments were purchased in October. He said yields
varied from 5 . 67% to 7 .41% . He predicted that there will
be $400 , 000 available to invest next month.
Woods moved to approve the financial reports . Grenstad
seconded and the motion carried.
Actuarial Study - Added Other Business Item. Hillman noted
that it has been two years since an actuarial study was
done and that the cost of such a study should not be over
$5, 000 . Grenstad moved to hire a company to do an
actuarial study. Woods seconded and the motion carried.
Adjournment. The meeting adjourned at 3 : 07 p.m.
Brenda Jacober�/CMC
Boardmemberfc-ity Clerk