09/27/1993
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POLICE
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SuPPLEMENTARY
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PENSION
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AGENDA
CLEARWATER POLICE SUPPLEMENTARY PENSION FUND MEETING
POLICE HEADQUARTERS, CONFERENCE ROOM
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September 27, 1993
9:00 a.m.
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1. Approval of the Minutes of Meeting held June 21, 1993.
2, ' Approve the Request of Donald b. Wicker for his Share Value
Effective on his Retirement Date of July 12, 1993 (end of day) and
" ' Approve the Payment of $74,419.46 to him for his Share Value.
3. Approve the Request of Kenneth M. Schmitt for his Share Value
Effective on his Resignation Date of August 8, 1993 (end of day),
4. Distribution of Third Quarter Investment Report and Discussion with
Southf<1stern Advisory Services, Inc.
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5, Distribution of Monthly Reports Prepared by NationsBank for the
Months of May, June, July and August 1993.
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6., Other Business.
(
LLIAM SEDRICK, CHAIRMAN
Board of Trustees
IF A PERSON DECIDES TO APPEAL ANY DECISION MADE BY THE
BOARD, WITH RESPECT TO ANY MATTER CONSIDERED AT THE
MEETING OR HEARING, HE \VILL NEED A RECORD OF THE
PROCEEDINGS, AND TlIA T,FOR SUCH PURPOSE, HE MA Y NEED TO
ENSURE THAT~A VERBATIM RECORD OF THE PROCEEDINGS IS
MADE, WHICH RECORD INCLUDES THE TESTIMONY AND
EVIDENCE UPON \VHICH THE APPEAL'IS TO BE BASED.
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CLEARWATER POLICE SUPPLEMENTARY PENSION
MINUTES OF MEETING lIELD SEPTEMUER 27, 1993
9 a.m.
A meeting of the Board of Trustees was held on September 27 t 1993 at 9 a.m. in the
Conference R~om at Police Headquarters, 644 Pierce Street, Cleanvater, Florida.
The following trustees were present:
Sergeant William Sedrick, Chairman
Roy May, Vice-Chairman
William Horton, Trustee
Richard Breest, Secretary
William Schwab, Trustee
Guest: Bishop Smith, Southeastern Advisory Services, Inc.
Chairman Sedrick called the meeting to order at 9 a.m. The tirst item on the agenda was
approval of the minutes of the meeting held on June 21, 1993. A motion to approve the
minutes was made by William Horton and seconded by Richard Breest. Motion carried
unanimously.
Item #2 on the agenda was approval the request of Donald D. Wicker for his share value
effective on his retirement date of July 12, 1993 (end of day). Motion to approve the request
was made by William Horton and seconded by William Schwob. Motion carried
unanimously.
Item #3 on the agenda, approval of the request of Kenneth M. Schmitt for his share value
, was tabled until the next meeting due to the fact that Mr. Schmitt had not submitted his
request for share value as of the ti me of the meeting.
Chairman Sedrick then moved to Item 115, distribution of monthly reports from NationsBank.
The Board acknowledged receipt of the reports.
Chairman Sedrick returned to Item #4 on the agenda, distribution of third quarter investment
report and discussion with Southeastern Advisory Services. Inc. Bishop Smith gave the
Board an overview of the investments mude during the last quarter and their comparison with
the first two quarters.
Bishop Smith also distributed copies of comparison charts he had produced of "value" and
"growth II investments made by tive investment tirms. He reviewed the report with the Board
(as we]] as City Capital investments through August 1993) and discussion was held on the
possibility of having the IIgrowth" investmellls handled by a different agency. Bishop
recommended that City Capital representatives be invited to attend the next meeting to be
held on October 11 to explain their strategy and future plans.
After further discussion, the Board decided to invite Carole Cox, of City Capital, to attend
the October 11 meeting.
There being no further businesst the meeting was adjourned at J 0:30 a. m.
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Minutes of Meeting held September '27, 1993
Supplementary' Pension Fund
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Chairman Sedrick then 'went to Item 116. 'other business. He passed around" lhm\k' YOldelter
received from former,trustee Donald Hibbard for members to'rcad. Chairman Scdrick a]so
reminded the Board that at the upcoming meeting, the Board would finalize, the "Opcrnting
'Rules ancf Procedures" prepared in conjunction with Board Altorney Lee Dehner. Copies of
the procedures were distributed. ' "
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RICHARD BREEST
Secretary
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