HomeMy WebLinkAboutCity Council Committees - Fireman's Relief and Pension Board - 10/01/1997 Firemen' s Relief & Pension Board
October 1, 1997
Boardmembers Present: Mayor White, Mary Berg, Gene Grenstad,
Brenda Jacober
Others Present: Laurie Murray, Dutch Randall
der at 9: 00 a.m.
The Mayor called the meeting to order
Approval of Minutes. There were no corrections to the minutes of
September 3 , 1997, and they stood as presented.
Approval of Financial Transactions. Berg moved to approve the
August financial transactions. Grenstad seconded and the motion
carried.
Murray explained that the net effect on investments is a decrease
of $65, 670. 09 from investment purchases, that the original
investment total compared to the market value is an increase of
$601, 769 . 67 since inception of the investments, that investments
and cash are lower for August and that expenditures went up by a
small amount, and that benefits cost $10,750 per month or $86, 000
per year. She noted that there was not much investment activity
in August, and that there was an operating loss of $14, 062 for
the year so far. She explained that most funds for investments
are received in December.
A brief discussion was held regarding the future of the Board.
Other Business. There was no further business to come before the
Board.
Adjournment. The meeting adjourned at 9 : 10 a.m.
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Brenda Jacoper4 CMC
City Clerk/BoArdmember