1980.01.29_BTRB_Minutes_Regular TOWN OF HIGHLAND BEACH, FLORIDA
BOARD OF TRUSTEES
RETIREMENT PLAN
REGULAR QUARTERLY MEETING
January 29, 1980 9: 15 A.M.
The Regular Quarterly Meeting of the Board of Trustees (Retirement Plan)
was called to order at 9: 20 A.M. by Chairman, Mayor Louis Y. Horton.
In attendance were: Mayor Horton, Commissioner Genovese and M. Maree
Birkbeck, Treasurer. Vice Mayor Storm and Officer Cecere entered the
meeting a few moments later. Bette Barker, Recording Secretary, was
also in attendance.
Treasurer M. Maree Birkbeck presented the Financial Statement for the
Quarter ended December 31, 1979.
MOTION by Commissioner Genovese and seconded by Mayor Horton that the
Financial Statement be approved as read by Miss Birkbeck. All members
of the Board voted Aye.
The next order of business before the Board was the Investment of Funds.
Miss Birkbeck stated that on January 6, 1980 three C.D. ' s had matured
and she had received verbal approval from the Board to reinvest these
amounts. She did so with First Federal Savings and Loan of Delray
Beach - $20, 000.00 at an interest rate of 11.880%. The three C.D. ' s
that matured were Nos. 1255-5; 3192-3 and 3728-6.
Miss Birkbeck further stated that No. 6345-8 would be maturing on
January 31, 1980 and she was seeking formal approval to reinvest that
sum of $10,000.00 at the best interest rate.
It was at this point that Vice Mayor Storm and Sgt. Cecere entered the
meeting.
Commissioner Genovese then questioned Miss Birkbeck' s renewing these
C.D. ' s and she informed him that she had called each member of the
Board and received their verbal approval to reinvest this money.
Commissioner Genovese asked about the employees being bonded and was
informed that all employees of the Town Hall are bonded. Discussion
took place regarding this matter.
MOTION by Commissioner Genovese and seconded by Vice Mayor Storm that
Minutes Board of Trustees
Retirement Plan
Regular Quarterly Meeting
em January 29, 1980 Page 2 of 2
approval be given to Maree Birkbeck to reinvest $10,000.00 at the best
rate of interest. The Board voted unanimously in favor of this MOTION.
Miss Birkbeck then presented the bill from Nowlen, Lynch & Stewart,
Auditors, in the amount of $250.00. This was for the 1978-79 audit
report of the Retirement Plan and expenditure was approved by the Board
of Trustees on August 7, 1979.
MOTION by Vice Mayor Storm and seconded by Mayor Horton that this bill
be approved for payment. All Board members voted Aye in favor of payment.
The Treasurer then stated that the auditors had submitted the necessary
form 5500-G and that it was mailed to the Internal Revenue Service on
January 21, 1980.
Inasmuch as Mrs. Mumford had been Secretary of the Board of Trustees,
prior to her resignation, Miss Birkbeck stated that a new Secretary
would have to be appointed.
MOTION by Vice Mayor Storm and seconded by Mayor Horton that Commissioner
Genovese be appointed as Secretary of the Board of Trustees. All
members of the Board voted unanimously in favor of this appointment.
The meeting ADJOURNED at 9:35 A.M.
/7
APPROVED:
Mayo . ,f is Y. H•/on, Chairman
Vice yor j old . Storm
Commissi;ner Peter J. Ge •vese,Secy.
M. Maree Bir eck, 'Measure
't,/
Sgt. William Cecere
ATTEST:
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R ding Secret ry
ry
January 30, 1980
Dated
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