HomeMy WebLinkAbout04-12-1993 Minutes MINUTES OF THE CITY OF OCOEE GENERAL EMPLOYEES PENSION TRUST
iikaw FUND MEETING HELD APRIL 12, 1993
The meeting was called to order by Vice-Chairman Grafton at 10:05 a.m. in the community
center conference room. Present were: Tanya Miller, Joyce Oliver, and Jean Grafton. Also
present were Portfolio Administrator Terry McDougal, Client Service Representative Tom Lacy,
and Chief Executive Officer Grant McMurry, all of The Investment Counsel Company, and
Attorney Scott Christiansen.
Absent: Chairman Paul Lewis and Secretary Judy Henry.
Upon a motion by Tanya, and second by Joyce, the minutes of the November 11, 1992 and
March 2, 1993 meetings were approved as presented.
Employee Janet Resnik was present in the audience to observe.
Attorney Christiansen confirmed that the Summary Plan Description and Selected Provisions of
the Rules and Procedures had been distributed at the last meeting. He then asked if the draft
letter re: sales tax exemption had been processed as well. As Judy Henry was not present, the
answer to this was deferred until she was available.
Attorney Christiansen advised that Key Trust was still in a state of flux and asked if we had
heard from them. It was determined that we should invite them to be present and give a report
Lor at the next meeting.
Grant McMurry reviewed our investment policy with ICC and Terry McDougal gave a report
through March 31. Both Attorney Christiansen and Mr McMurry recommended increasing the
percentage of stock to 40% and decreasing the percentage of bonds in our portfolio. Joyce
moved, and Tanya seconded, to increase the percentage of stock to 40% and decrease the
percentage of bonds in our portfolio. Motion carried 3-0. Attorney Christiansen will draw up
an investment policy revision.
Joyce moved, and Tanya seconded, and vote was unanimous, to authorize the following bills to
be paid:
Christiansen and Denner $ 722.05
City of Ocoee $ 75.92
Alan Srofe $1,445.54
Joyce moved, and Tanya seconded, to authorize payment of expenses for those board members
who wish to attend the FPPTA Annual Conference in St. Petersburg June 21-23, 1993.
There was discussion regarding the information the employees had wished to have available on
their individual reports and it was determined that Ward Foster should be invited to provide that
information at the July meeting.
Ocoee General Employees Pension Trust Fund Board Meeting
April 12, 1993
Following a discussion regarding the difficulties encountered with the meeting dates as set at an
earlier meeting, Joyce moved, and Tanya seconded, to change the next two meeting dates to July
13 at 10:00 a.m. and October 12 at 10:00 a.m. Motion carried 3-0.
The meeting adjourned at 11:10 a.m.
J; ,n Grafton, Vice C irman
•t'ting Secretary
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