11/18/1991
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PENSION
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AGENllt\
CLEARWATER POLICE SUPPLEMENT AR Y PENSION FUND MEETING
POLICE HEADQUARTERS, SECOND FLOOR CONFERENCE ROOM
November 18, 1991 9 a.m.
1. Approval of the Minutes of the Meeting held on October 1) 1991.
"
2. Report on Money Manager Candidates by Bishop Smith, Southeastern
Advisory Services, Inc.
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3. Approval of the Payment of $850 to Cindy Hicks for Bookkeeping
Services for the Period of October 1, 1991 through March 31, 1992.
"
4. Ratify the Two Separate Payments ($789.80 and $1,048.20) to Lee
Dehner for Professional Services.
5. pistribution of the Monthly Report from First Union Bank for the Month
of September 1991 and 1990/91 Summary.
6. Other, business.
(
, WILLIAM DRICK, CHA AN
Board of Trustees
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IF A PERSON DECIDES TO APPEAL AN.Y DECISION MADE BY THE
BOARD, WITH RESPECT TO ANY MA TI'ER CONSIDERED A TTHE
MEETING OR HEARING, HE WILL NEED A RECORD OF THE
PROCEEDINGS, AND THAT, FOR SUCH PURPOSE, HE MAY NEED TO
ENSURE THAT A VERBATIM RECORD OF THE PROCEEDINGS IS MADE,
WHICH RECORD INCLUDES THE TESTIMONY AN EVIDENCE UPON
\VHICH TIlE APPEAL IS TO BE BASED.
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CLEARWATER POLICE SUPPLEMENTARY PENSION
MINUTES OF MEETING HELD NOVEMBER 18, 1991
'3 a.m.
A meebing of the Board of Tr~~tee$ was held an November 18, 1991 at
9 a.m. in the second ft.:jor .:onference rc":.m j:jf Police Headquarte\"s,
644 Pierce street, Clearwater, Florida.
The following trustees were present:
Sergeant William Sedrick, Chairman
Roy May, Vice-Chairman
Richard Breest, Secretary
Cindy Hicks, secretary t.:., Chief Sid 10ein was present to
record the minutes.
Chairman Sedrick called the meeti,ng to order at 9 a.m. The Board
immediately began a discussion'of the candidates for money manager for
the fund., Bishop Smith distributed copies of a report prepared by
Southeastern Advi~ory Services, Inc., comparing the performance of each
of the applicants over the past five y~ars. Discussion ensued on the
qualifications of each applicant. The Board took a break from 10:15 to
10:25 a.m.
Upon reconvening, the Board decided to conduct interviews with six (6)
of th~ applicants. A'motion was made by Richard Breest that Sun Bank,
NCNB, First Union, City Capital, Capstone and Invesco be invited to make
formal presentations to ~he Board on Wednesday, December 18, 1991. The
motion wa$ seconded by Roy May and passed unanimously.
It was agreed by the Board that Bishop Smith would contact the represen-
tatives of each company and arrange a time for their presentations
starting at 9 a.m. at 45 minute intervals on December 18. Bishop Smith
advised the Board that his company would prepare a booklet with back-
ground' information on each company, as well as sample questions to be
used during the interviews.
Bi shop Smi th is al so to.:c.ntact Lee Delmer for any addi t i anal changes in
.the Policy Statement so that it can be finalized in time for the up-
coming interviews. The Board agreed to meet briefly in the next couple
of weeks to give final approval to the Policy Statement.
The first item on the agenda was approval of the minutes of the meeting
held ,on October 1, 1991. A motion to approve the minutes was made by
Roy May and seconded by Richard Breest. Mo~ion carried unanim~usly.
Item >>3 on the agenda was appro~al of the payment of $850 to Cindy Hicks
fo\" bookkeeping services for the pel"iod of October 11 19'31 through
March 31, 1992. A motion to approve the payment was made by Roy May and
s~conded by Richard Breest. Motion carried unanimously.
Item ~4 on the agenda was ratify two 5Gparate payments' ($789.80'snd
$1,048.20) tCI Lee'Dehner for professit:~nCll sel'vices. Moticln 'co ratify
the payment was made by Richard By-eest and seconded by Roy May. Motion
carried unanimously.
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Minutes'
:' Suppl ement'ary Pe'nsi on Fund
Page :2'
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---------------------------
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Item'fl5'on the ag~nda was dlstribuiion of the m6nthly.ie~orts, from Pi~st
Union B~nk for the month 'of September '1991 and the 1990/91 SUmm~ry,and,
October 1991 (which was added after the lagenda,was prepar~d) The'Board
ac~~o~ledged recei~t of the reports.
Theye bei'ng no
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the
adjoLtrned
a,t
11:30
~~~JE)~_________
RICHARD BREEST,Secretary
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