1986.11.05_BTRB_Minutes_Regular 0 TOWN OF HIGHLAND BEACH, FLORIDA
MINUTES OF RETIREMENT BOARD
Wednesday, November 5 , 1986 1 :15 p.m.
A Meeting of the Town of Highland Beach Retirement Board was called
to order by Mayor Edward J. Sullivan. Other Members of the Retirement
Board in attendance were Commissioner John J. Basso and Commissioner
Betty Jean Stewart. Retirement Board Members Abraham Widelitz and
Elizabeth Ulitsch were absent.
Also present were Town Manager Hugh D. Williams, and Town Clerk Mary
Ann Mariano.
Town Manager Williams noted that Finance Director Rebecca Morse and
Elizabeth Ulitsch were on their way and might be in attendance at
this meeting prior to its adjournment.
Mr. Williams reported that as a result of the 9/30/86 financial state-
ment for the Retirement System, an inquiry was made as to the method
of calculating the interest credited to each Retirement Plan Member.
In researching this matter, it was determined that interest had not
been appropriated correctly for approximately one year and that ad-
justments would need to be made. The adjustments to be made would
also include some funds which had already been paid out, either by
overpayment or underpayment.
Commissioner Stewart recommended that this matter be deferred until
adequate information is provided by the Finance Director.
Mayor Sullivan also recommended that this matter be deferred until the
entire Retirement Board could be in attendance.
At 1 : 22 p.m. , this meeting was recessed until 1 : 00 p.m. on November
25 , 1986.
Respectfu ly Submitted,
Mary Ahn Marian�E. Ulitsch
APPROVED:
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E
. •• n J. asso
DATE: ��//'l Bet Jean Stewart
(absent)
Elizabeth Ulitsch
(absent)
Abraham Widelitz