HomeMy WebLinkAboutMinutes GEPF 042996i , \
CITY OF PALM BEACH GARDENS
GENERAL EMPLOYEES PENSION FUND
April 29, 1996
The meeting was called to order at 4:10 P.M. In attendance were
Win Weldon, Jerry Bergman, Tom Thomas, Jack Hanson and Judy Fox;
Scott Christiansen and Hal Chappell.
Before Hal Chappell gave his report for the quarter ending March
30, 1996, Win Weldon stated that he would like SunTrust represen-
tatives present for the meeting to review the quarter ending June
30, 1996.
In reviewing his letter of April 26, 1996, Hal Chappell stated
that "the fund has returned $83,000 less than the indices in the
time shown ". Win Weldon asked that in his letter to Kent Olson he
change this to say "the fund has returned $83,000 less than the
indices since inception ".
Win Weldon also asked that Hal Chappell instruct Phillip Roberts,
our SunTrust representative to have 600 (at cost) of the fund in
stocks.
The board agreed that since SunTrust has turned the fund around,
we will stay with them for now.
Donaldson & Company sent the Board a check for $4751.00 in com-
missions from SunTrust to off set Hal Chappell's fee.
Jerry Bergman moved that invoices from Hall Chappell for $1,187
and Christiansen and Dehner, P.A. be approved for payment. Jack
Hanson seconded this motion, all approved.
The next meeting of the Board will be May 22, 1996, at 2:00 in
the Council Chambers. All members of the General Employees
Pension will be invited to attend this meeeting so that the Board
can explain the changes they want to make in the Plan. Scott
Christainsen will draw up an outline of the current plan and the
proposed changes for Judy Fox to put in the employees pay check
May 17, 1996.
The meeting was adjourned at 6:10 P.M.
Respectively submitted,
Judy Fox, Secretary
DONALDSON & CO.
INCORPORATED
Overlook III
2859 Paces Ferry Road
Suite 2125
DIRECTED BROKERAGE STATEMENT Atlanta, Ga 30339
Palm Beach Gardens General Employees
For Transactions settling
between 04/01/96 and 04/26/96
COMMISSION ACTIVITY REFERENCE NUMBER 191 -9604
REVENUE TYPE
Equities
Fixed Income
Directed Orders
Other
Total Credit (Soft)
Conversion Ratio
Total Credit (Hard)
PAYMENT ACTIVITY
SERVICE DESCRIPTION
CURRENT
MONTH
YEAR -TO -DATE
$
0.00
$
0.00
$
0.00
$
0.00
$
0.00
$
0.00
$
0.00
$
9,502.00
$
0.00
$
9,502.00
2.00
: 1
$
0.00
$
4,751.00
CURRENT MONTH YEAR -TO -DATE
Recaptured Commissions $ 0.00 05/15/96
Total Payments $ 0.00 $ 4,751.00
ACTIVITY SUMMARY
Hard Dollar Credit
Payment Activity
Current Balance (Hard)
Current Balance (Soft)
-- Balance Forward $
-- Current Period $
- -Total $
0.00
0.00
0.00
0.00
o o 0�
The Current balance (hard) indicates the hard dollar 'purchasing power" of this account.
Questions? Please contact Joanne Mascelfino, Client Services Manager, at (800)438 -4284.
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