Carbondale Reporter

City of Carbondale Fire Fighters Pension Board met July 18.

Here is the minutes provided by the Board:

Ted Lomax called the meeting to order at 9:05 a.m. with the following members of the Board present/absent:

Present: Ted Lomax, President; Harry Threlkeld, Fire Fighter Retiree Representative; Becky Applegate; Jeff Davis

Absent: Mike Hertz, Secretary

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 June 30, 2017. Mr. Donnelly made two investment recommendations that board members discussed. Motion made by Harry Threlkeld to move $250,000 from International Equity into Emerging Markets. Motion seconded by Jeff Davis. Roll Call Vote: Ted Lomax – Aye, Harry Threlkeld – Aye, Becky Applegate – Aye, Jeff Davis - Aye. Ayes: Four; Nays: None. Motion declared carried. Motion made by Harry Threlkeld to move $120,000 in August and $120,000 in September from Large Cap Equity into Cash. Motion seconded by Jeff Davis.. Roll Call Vote: Ted Lomax – Aye, Harry Threlkeld – Aye, Becky Applegate – Aye,Jeff Davis- Aye. Ayes: Four; Nays: None. Motion declared carried. Jeff Davis stated that the one cent food and beverage tax will generate approximately $150,000 per year into the Pension Fund. The annual Investment Policy review will be due at the next meeting. Mr. Donnelly will bring an Asset Allocation Study to the next meeting.

Patrick Donnelly exited the meeting at 9:45 a.m.

Minutes Of Previous Meeting:

Motion made by Harry Threlkeld to approve minutes of the April 18, 2017 meeting. Motion seconded by Becky Applegate. Voice Vote: Ayes: Ted Lomax, Harry Threlkeld, Becky Applegate, And Jeff Davis. Nays: None. Motion declared carried.

Treasurer's Report:

Becky Applegate presented the Treasurer’s Report and Market Value Comparison for the period ending June 30, 2017. Investments showed a decrease of $6,173 since March’s statement due to cash needs. Motion made by Harry Threlkeld to accept the Treasurer’s Report as presented and approve expenses totaling $417,332.65, of which $405,501.62 was payroll. Motion seconded by Jeff Davis. Voice Vote: Ayes: Ted Lomax, Harry Threlkeld, Becky Applegate, And Jeff Davis. Nays: None. Motion declared carried. See attached Expense Report for details.

Unfinished Business:

None

New Business:

Jeff Davis has been appointed by the Mayor to replace Deborah McCoy.

Becky Applegate will retire from the City of Carbondale in January, 2018. She has stated that she will not remain on the board as a Mayor Appointee. Ted Lomax has spoken with City Clerk Jennifer Sorrell who stated she would be willing to fill the vacant seat. Mr. Lomax will speak with Mayor Henry about this appointment.

Becky Applegate presented an invoice from IDOI for their Annual Compliance Fee. Motion made by Harry Threlkeld to pay the IDOI Annual Compliance Fee in the amount of $2,510.90. Motion seconded by Jeff Davis. Roll Call Vote: Ted Lomax – Aye, Harry Threlkeld – Aye, Becky Applegate – Aye, Jeff Davis - Aye. Ayes: Four; Nays: None. Motion Declared Carried.

The annual AFFI Pension Seminar is October 9-10, 2017 in Bloomington, IL. All members stated they will attend the conference. Kathy Haldeman will make necessary travel arrangements.

Announcements And Adjournment:

Motion made by Harry Threlkeld to adjourn at 10:05 a.m. Motion seconded by Jeff Davis. Voice Vote: Ayes: Ted Lomax, Harry Threlkeld, Becky Applegate, and Jeff Davis. Nays: None. Motion declared carried.

The next meeting is scheduled for October 17, 2017 at 9:00 a.m.

http://explorecarbondale.com/sites/default/files/Council%20Minutes/2017CouncilMinutes/Boards%20and%20Commissions%20Minutes.pdf