09/06/1977
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SUPPLEMENT ARY
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PENSION
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, AGENDA
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Clearwater Police Supplementary penslon Board
, ,of ,'l'rus tees Meeting
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Tuesday, September 6, 1977 at 2:00 P.M. in
Police Conference Room, 644 Pierce Street
Items
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1.
Approval of Minutes of Meeting held
June 23, 1977
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2.
Approval of Invoices for Payment:
Bank of Clearwater
Turnburke, Brock and Gadney
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3. Billing ,from Provident ,Insurance Company
'covering annual premium due 9-17-77 for
130 Police Officers presently' participating
in Supplementary Pension
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4. Correspondence from Turnburke, Brock and
Gadney re Federal Annual Reports and their
recommendations
5.
Semi-annual payment to Mrs.
se~a1 and bookkeeping
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R DANIELS, Secretary,
oard of Trustees
Betty ward for
services
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CLEARWATER POLICE SUPPLEMEN'mRY PENSION FUND
Minutes of Meeting Held September 6, 1977
A meeting of the Clearwater police Supplementary Pension Fund was held
on September 6, 1977 in the Conference Room of the Police Department,
644 pierce Street, Clearwater, Florida.
The following Board members were present:
GABRIEL CAZARES, Chairman
FRANK DANIELS, Secretary
RAY KAMINSKAS
~'lILLIAM SEDRICK
'Donald Hibbard was absent.
Also present were Marybeth Lavallee, Assistant city Attorney, and Betty
Ward, ,Chief Daniels' secretary.
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Mayor Cazares, Chairman, called the meeting to order at 1:00 P.M. and
requested approval of the minutes of the meeting held June 23, 1977.
Officer Kaminskas made a motion that the minutes be approved, motion
seconded by Officer Sedrick. Motion carried unanimously.
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Item #2 on the agenda was the approval for payment of an invoice from
the Bank of Clearwater in the amount of $8.00 for safe deposit box
rental due 9-1-77, and approval for payment of invoice in the amount of
$170.00 from Turnburke, Brock and Gadney, Certified Public Accountants
for preparation of IRS Reports for the calendar year 1975 and 1976.
Officer Sedrick made a motion to approve the invoices for payment, motion
seconded by Officer Kaminskas. Motion carried unanimously.
Item #3 on the agenda was the approval for payment of invoice from
Provident Insurance Company in the amount of $86,334.66 for annual
premiums due 9-17-77 covering 130 police officers presently participating
in the Supplementary Pension Fund. Officer Kaminskas made a motion that
the invoice be approved for payment, motion seconded by Officer Sedrick.
Motion carried unanimously.
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Item #4 - correspondence from Turnburke, Brock and Gadney - Chief Daniels
read a letter from Michael Lewis, CPA, in which he 'stated that it had come
to their attention in the process of preparing the Federal annual reports
that the Supplementary Pension Fund is 'not covered by a fidelity bond and
Mr. Lewis suggested that the Trustees consult with their attorneys for a
definite finding as' to whether a fidelity bond may be required by state
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Supplementary Pension Minutes
of Meeting held September 6, 1977.
PAGE TWO
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law. Marybeth Lavallee reported that she had received a copy of
the same letter, and that she had checked with the Insurance
Co~nissioner's Office in Tallahassee and ,found that a fidelity
bond is not required by law. Officer Karninskas made a motion
that the secretary obtain price quotations for a fidelity bond from
three agencies and report back to the Board. Officer Sedrick seconded
the motion. Motion carried unanimously.
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Item #5 on the agenda was the semi-annual payment to Betty Ward for
secretarial and bookkeeping services. Mayor Cazares asked Mrs. Ward
if she would feel more comforatable by leaving the meeting for a few
minutes so that the Board could discuss this item. Mrs. Ward left
the meeting. During Mrs. Ward's absence the board members questioned
Chief Daniels as to the date of the last payment increase for Mrs.
Ward. The Board then computed that the workload and police force
had more than doubled since Mrs. Ward1s last increase and decided to
increase the annual amount to $650.00 from the previous $360.00. Mrs.
Ward, returned to the meeting and Chief Daniels advised her that a motion
had been made by Officer Sedrick and seconded by Officer Kaminskas that
Mrs. Ward's compensation be increased from $360.00 annually to $650.00
annually,to be paid in two equal installments of $325.00 each, the
increase to be effective immediately, and requested Mrs. Ward to submit
to the Trustees an invoice for payment in the amount of $325.00 for the
balance due for 1977 based on tile revised schedule. The Board voted
unanimously for Mrs. ward1s increase. Mrs. Ward expressed her thanks
to the trustees.
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Chief Daniels read a letter from Internal Revenue Service dated
September 1, 1977 in which they acknowledged receipt of the Form 5500
for the year ended December 31, 1975 and found that they needed
additional information to complete action on it. Mrs. Ward noted that
the CPA firm of Turnburke, Brock and Gadney had failed to complete
Lines 15 (a) (b) and (c) of the report. The Board answered Line 15,
parts a,b, and c as follows:
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(a) Did any transaction involving plan assets involve a person known
to be a party-in-interest?
Answer: No
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(b) Were any loans by the Plan or fixed income obligations 'due the
Plan in default as of the close of the Plan year or classified
during the year as uncollectable?
Answer: No
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(c) Were any leases to which the plan was a party ~n default or classified
during the year as uncollectable?
Answer: No
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Supplemeni:ary Pension ,Minutes, ,
of Meeting held September 6, 1977
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PAGE THREE
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The Secretary was instructed to' .complete th~ form and mail., it
to the Internal Revenue Service.
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Miss Lavallee suggested,that the Board calendar June 1st of1next
year in order to comply with the July 31st deadline for completing
the annual reports for the Department of Labor and Internal Revenue
Service. Officer Kaminskas made a motion that this be done. MQtion
seconded by Officer Sedrick. Motion carried unanimously.
The Board of Trustees thanked Marybeth Lavallee for 'her assistance
'and counsel'during the time she has been attending the meetings, and
, wished her success in her new endeavors.
The meeting,':was adjourned at 1: 45 P.M.
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DANIELS, Secretary
of Trustees
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