1979.01.30_BTRB_Minutes_Regular ,/'1, TOWN OF HIGHLAND BEACH, FLORIDA
BOARD OF TRUSTEES
RETIREMENT PLAN
REGULAR QUARTERLY MEETING
January 30, 1979 9: 00 A.M.
The Regular Quarterly Meeting of the Board of Trustees (Retirement Plan)
was called to order by the Chairman, Mayor Louis Y. Horton at 9:00 A.M.
on January 30, 1979. In attendance were: Mayor Horton, Vice Mayor
Mumford, Secretary, Commissioner Storm, Maree Birkbeck, Treasurer, and
Jane E. Barker, Recording Secretary. Sgt. Cecere was absent .
The minutes of the last meeting, held on October 4, 1978, were read by
the Recording Secretary. MOTION by Commissioner Storm/Vice Mayor Mumford
that the minutes as read be adopted. All members of the Board voted
unanimously for adoption of the minutes.
Maree Birkbeck then gave the Treasurer ' s report. (Copy attached) MOTION
by Vice Mayor Mumford and seconded by Commissioner Storm that the
Treasurer ' s report be accepted as read. All members voted AYE.
/'1 Vice Mayor Mumford stated that Mr. MacDonald had said a year ago that he
would assist in revising the Retirement Plan and she wanted to know the
status . To date, nothing has been heard from him in reply to Mr . Thomas
Sliney' s letter dated January 5, 1979. Inasmuch as no answer has been
received from Mr. MacDonald, Maree Birkbeck was requested to speak to
Mr . Sliney and have him follow up on this matter.
Maree Birkbeck reported that she had received tentative approval of the
Board to reinvest $10, 000. 00 in a Money Market C.D. for six months at
9.72% interest per annum. The previous C. D. expired January 29, 1979.
She further recommended that the money in the savings account in the
amount of $8, 359. be allowed to accumulate to $10, 000. and invest this
amount in a Money Market C . D. rather than investing $5, 000. in a four-
year C.D. Commissioner Storm asked regarding investing our money in
Government notes at 91% because two years from now, the interest on
C .D. ' s could be down to 5%.
Miss Birkbeck went on to state that the balance in forfeitures amounted
to $2, 952 . and in about three months, the Town would have to start
matching funds again.
She then requested formal approval of the Board to pay Patrolman Blonder,
who has resigned, the amount of $88. 39. MOTION by Vice Mayor Mumford/
Commissioner Storm to issue this check and the Motion was carried
unanimously.
^,
She also stated that approval was needed to pay Mary Kleintop the amount
of $41 . 76. Commissioner Storm moved that this be done, seconded by
Minutes Board of Trustees
Retirement Plan
Regular Quarterly Meeting
January 30, 1979 Page 2 of 2
Vice Mayor Mumford and unanimously approved.
Discussion then took place regarding the bill from the Auditing Firm
in the amount of $300.00. This was presented for the year ended
September 30, 1977 but, as a separate Audit Report was never received,
that bill was not paid. It is required by law that a formal audit of
this Fund be made each year. It was felt, however, that the sum of
$300.00 was high and Maree Birkbeck was instructed to check with other
firms to see what their fee would be for a Fund of this type. She did
state that Charlotte Reece had all the figures in excellent order and
that it should not have taken the Auditors any longer than two weeks
overall to complete this.
Miss Birkbeck then asked for approval to pay the amount of $300.00,
for Fiscal Years ended 9/30/77 and 9/30/78 combined, and made a MOTION
to that effect, seconded by Commissioner Storm. The Board voted in
favor.
Being no further business to come before the Board, the meeting
ADJOURNED at 9:25 A.M.
APPROVED:
en) Mayo Louis Y. Horton, Chairman
i _
Ruth E Mumford, Vice Mayor
Haro d C. Sto , ommissioner
Maree Birkbeck, Treasu er
(Absent)
Sgt. William Cecere
ATTEST: t1-7 Lt/ /4 '�_
ecording Secretary
Dated: February 6, 1979
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