HomeMy WebLinkAboutMinutes GEPB 081803City of Palm Beach Gardens General Employees
Pension Fund Trustee Meeting
August 18, 2003
The Meeting was called to order by Steve Parella at 2:05 PM. In attendance were Steve Parella,
Jack Hanson, Judy Fox, Allan Owens, Joe Boghdan, Scott Christiansen and Mike Welker.
A motion to approve the minutes of May 19,2003 was made by Allan Owens and seconded by
Judy Fox. The vote to approve was unanimous.
The Performance Monitors Report was made by Joe Boghdan. He had some good news for
this quarter in that the positions in both up and down markets was respectable. The long term
looks good, but short term will be so -so with continuing fluctuations.
The investment manager's report was given by Mike Welker. All sectors were up in the second
quarter and we are properly positioned to capture the upcoming equity market upside. The
prophecy is a steady up market, but moving very slowly in that direction. Mike and Joe
discussed the corporate governance structure and the proxy disclosure by Trusco.
A motion to approve the invoices from Christiansen & Dehner for $1,544.05 was made by
Steve Parella and seconded by Jack Hanson. The vote to approve was unanimous. A motion to
approve the invoices from Boghdan Consulting for $1,500.00 was made by Steve Parella and
seconded by Judy Fox. The motion to approve was unanimous.
The benefit offered by Sun Trust called Benepay was discussed by the board to determine if we
would have a need for this service.
Scott Christiansen discussed the Public Records Management Statute in detail as to our
requirements and obligations. The required resolution No. 1 -2003 was motioned by Steve
Parella and seconded by Allan Owens to appoint Jack Hanson as the Records Management
Liaison Officer to comply with the State Statutes. The vote to approve was unanimous. Jack
Hanson will mail a copy to the Bureau of Archives and Records management in Tallahassee.
Jack Hanson agreed to research the cost of a legal size four drawer fire proof filing cabinet for
our records and report back to the board at the November Meeting.
The meeting adjourned at 4:25 P.M.
Respectfully subm
Jack Hanson, - Secretary
City of Palm Beach Gardens
Pension Board of Trustees