HomeMy WebLinkAboutCity Council Committees - Fireman's Relief and Pension Board - 02/05/1997 Firemen' s Relief & Pension Board
February 5, 1997
Boardmembers Present: Mayor White, Mary Berg, Gene Grenstad,
Brenda Jacober, Alternate Sam Grubbs
others Present: John Hillman, Susan Narick, Brigitte
Hoopes
The Mayor called the meeting to order at 4 : 10 p.m.
Approval of Minutes. Berg moved that the minutes of the December
4 , 1996 meeting be approved. Grenstad seconded and the motion
carried.
Approval of November Transactions. Berg moved to accept the
November financial transactions. Grenstad seconded and the
motion carried.
Mutual Fund Investments Report. Susan Narick said that in her
search for information on the Frank Russell Company, she
discovered that since they are a privately held company and don't
have any debt, there is no one who rates them. She recommended
looking at reinvesting in a mutual fund as treasuries and
agencies mature this year, though not necessarily with the Frank
Russell Company, since she has not been able to obtain very much
information on them. Hillman noted that the current mutual funds
are doing well. Narick noted that the next thing to mature this
year will be in August and all agreed to revisit this issue in
May. Narick stated that she will have information on the Frank
Russell Company and other possible mutual funds at that time.
Fire Contract Brigitte Hoopes distributed copies of a worksheet
regarding 1997 contract changes. Berg moved to approve the
adjustments as shown on the worksheet. Grenstad seconded and the
motion carried.
Other Business. Jacober noted receipt of brochures and the 1996
Year-End Statement from Oppenheimer Funds. Narick provided an
Annual Report from the Phoenix Series Fund, and said she will
provide information on others.
Adjournment. The meeting adjourned at 4 : 20 p.m.
r
Brenda Jacober, , C
City Clerk/Boardmember