Carbondale Reporter

City of Carbondale FireFighters Pension Board met April 18.

Here is the minutes provided by the Board:

Ted Lomax called the meeting to order at 9:10 a.m. with the following members of the Board present/absent:

PRESENT: Ted Lomax, President; Mike Hertz, Secretary; Harry Threlkeld, Fire Fighter Retiree Representative; Becky Applegate

ABSENT: Deborah McCoy

GUESTS: Patrick Donnelly, Graystone Consulting Also present was Fire Department Administrative Secretary/Recorder Kathy Haldeman

Patrick Donnelly of Graystone Consulting presented the Investment Review for period ending March 31, 2017. Mr. Donnelly presented a revised Opportunistic Investment Strategy. Motion made by Mike Hertz to approve the Opportunistic Investment Strategy updated April 18, 2017 as presented by Graystone Consulting. Motion seconded by Harry Threlkeld. ROLL CALL VOTE: Ted Lomax – AYE, Mike Hertz – AYE, Harry Threlkeld – AYE, Becky Applegate – AYE. AYES : Four; NAYS: None. Motion declared carried. Ted Lomax stated that the City of Carbondale had passed a one cent food and beverage tax. Mr. Donnelly will contact Becky Applegate to inquire with the City’s Finance Department about the tax levy projections. Mr. Donnelly and board members discussed using bonds as they reach maturity to cover monthly payroll and other expenses. Motion made by Mike Hertz to allow Graystone Consulting to contact the Bond Manager to discuss taking the next three months of expenses from bonds as they reach maturity. Motion seconded by Harry Threlkeld. ROLL CALL VOTE: Ted Lomax – AYE, Mike Hertz – AYE, Harry Threlkeld – AYE, Becky Applegate – AYE. AYES: Four; NAYS: None. Motion declared carried.

MINUTES OF PREVIOUS MEETING 

Motion made by Mike Hertz to approve minutes of the January 17, 2017 meeting. Motion seconded by Becky Applegate. VOICE VOTE: AYES: Ted Lomax, Mike Hertz, Harry Threlkeld, and Becky Applegate. NAYS: None. Motion declared carried.

TREASURER'S REPORT 

Becky Applegate presented the Treasurer’s Report and Market Value Comparison for the period ending March 31, 2017. Investments showed an increase of $182,832 since December’s statement. Motion made by Mike Hertz to accept the Treasurer’s Report as presented and approve expenses totaling $420,164.86, of which $405,467.58 was payroll. Motion seconded by Harry Threlkeld. VOICE VOTE: AYES: Ted Lomax, Mike Hertz, Harry Threlkeld, and Becky Applegate. NAYS; None. Motion declared carried. See attached Expense Report for details.

UNFINISHED BUSINESS

Becky Applegate stated that she has received all of the Annual Pension Affidavits.

NEW BUSINESS

Mike Hertz stated that elections were held for one retiree representative member for a three year term. Nomination sheets were mailed to all retirees on February 3, 2017 to be received on or before March 13, 2017. Harry Threlkeld was nominated. Election ballots were mailed with the March pension payroll checks to be received on or before April 17, 2017. Election results were twenty-one votes for Harry Threlkeld, no write-ins. Motion made by Mike Hertz to canvas the election and destroy the ballots. Motion seconded by Ted Lomax. VOICE VOTE: AYES: Ted Lomax, Mike Hertz, Harry Threlkeld, and Becky Applegate. NAYS: None. Motion declared carried.

Board positions were voted upon. Motion made by Mike Hertz to appoint Ted Lomax as President. Motion seconded by Harry Threlkeld. VOICE VOTE: AYES: Ted Lomax, Mike Hertz, Harry Threlkeld, and Becky Applegate. NAYS: None. Motion declared carried.

Motion made by Harry Threlkeld to appoint Mike Hertz as Secretary. Motion seconded by Ted Lomax. VOICE VOTE: AYES: Ted Lomax, Mike Hertz, Harry Threlkeld, and Becky Applegate. NAYS: None. Motion declared carried.

Mike Hertz presented an invoice for the replacement of Becky Applegate’s printer used for pension business. The total cost is $188.06 to be split 50% by Police and Fire Pension Funds. Motion made by Mike Hertz to approve the purchase of a replacement printer for Becky Applegate at a cost of $94.03. Motion seconded by Harry Threlkeld. VOICE: Ted Lomax, Mike Hertz, Harry Threlkeld, and Becky Applegate. NAYS: None. Motion declared carried.

Ted Lomax stated that Deborah McCoy has resigned from her position on the Pension Board. The Board discussed the vacant mayor appointed position. Mr. Lomax will speak with Mayor Henry to recommend Finance Director Jeff Davis to the vacant board seat.

Becky Applegate stated that she will be retiring from the City of Carbondale in January, 2018. Ms. Applegate will decide then if she will still hold the pension board seat.

ANNOUNCEMENTS AND VOTE: AYES

ADJOURNMENT

Motion made by Mike Hertz to adjourn at 10:30 a.m. Motion seconded by Harry Threlkeld. VOICE VOTE: AYES: Ted Lomax, Mike Hertz, Harry Threlkeld, and Becky Applegate. NAYS: None. Motion declared carried.

The next meeting is scheduled for July 18, 2017 at 9:00 a.m.

http://explorecarbondale.com/sites/default/files/pdf/agenda/2017-agendas/082917/Boards%20and%20Commissions%20Minutes%2008-29-2017.pdf