1980.11.05_BTRB_Minutes_Regular N
TOWN OF HIGHLAND BEACH, FLORIDA
BOARD OF TRUSTEES
RETIREMENT PLAN
REGULAR QUARTERLY MEETING
November 5, 1980 1 :00 P. M.
Mayor Horton, as Chairman of the Board of Trustees, called the Regular
Quarterly Meeting to order at 1:00 P.M. , stating that a quorum was
present. Those in attendance were: Mayor Louis Y. Horton, Chairman;
Vice Mayor Harold C. Storm; M. Maree Birkbeck, Treasurer; Elaine W.
Roberts, Manager; and Jane E. Barker, Recording Secretary.
^ Commissioner Peter J. Genovese and Sgt. Cecere were absent. Also in
attendance were Mr. Harry Walker and Mr. Bob Slater, both residents of
Highland Beach and who were familiar with the pension plan, having
been furnished copies.
Maree Birkbeck, Treasurer, presented the financial statement for the
fiscal year 1979-80, showing a Fund Balance at September 30, 1980 as
$112, 859. 27 . MOTION by Vice Mayor Storm and seconded by Mayor Horton
that the Treasurer' s report be accepted as read. The vote was unanimous.
She then presented the Detailed Statement of Contributions - for period
October 1, 1974 through September 30, 1980. She made note of the fact
that these two statements were subject to the Auditor' s report for the
fiscal year ended September 30, 1980. She also stated that the auditors
found her system of reporting these contributions satisfactory.
Discussion then took place regarding the Town' s present Retirement Plan
with Mr. Walker and Mr. Slater offering some suggestions for amendments
to the Plan. The pages of the Plan involved are 4, 6, 7, 13 and 19.
The next item on the agenda was Investment of Funds and Miss Birkbeck
Minutes Board of Trustees
Retirement Board
Regular Quarterly Meeting
November 5, 1980 Page 2 of 2
sought official approval from the Board for the following
investments:
On September 4, 1980 - $14,000. for 26 weeks at 10.5% to 3/5/81
On September 19, 1980 - $10,000. for 26 weeks at 11.125% to 3/20/81
On October 22, 1980 - $10,000. for 26 weeks at 11.657% to 4/23/81
MOTION by Vice Mayor Storm and seconded by Mayor Horton that these
investments be formally approved. Vote was unanimous .
Meeting ADJOURNED at 1:35 P.M.
APPROVED: G . ► x"70-Y
/� Louis ' Horton, Chairman, Mayor
f , VA 4 s /
Haro d C. orm) Vice Mayor
M. Maree Birkbeck, Treasurer
(Absent)
Peter J. Genovese, Commissioner
(Absent)
Sgt. William Cecere
ATTEST:
e E. Barker, Recording Secretary
i