1977.10.27_BTRB_Minutes_Regular TOWN OF HIGHLAND BEACH, FLORIDA
BOARD OF TRUSTEES
RETIREMENT PLAN
REGULAR QUARTERLY MEETING
October 27 , 1977 9 :00 A.M.
The Regular Quarterly Meeting of the Board of Trustees of the
Retirement Plan, Town of Highland Beach, Highland Beach, Florida ,
was called to order by the Secretary, Commissioner Ruth E. Mumford,
at 9 :05 A.M. Thursday, October 27 , 1977 .
Present were :
Commissioner Ruth E. Mumford, Secretary
Commissioner Robert D. Clark
M. Maree Birkbeck, Treasurer
Officer William Cecere
Absent: Mayor Morton E. Gilday, Chairman
Also present:
Jane E. Barker, Recording Secretary
Commissioner Mumford asked that the minutes of the last meeting
of the Board of Trustees be read and this was done by the
Recording Secretary. Commissioner Mumford asked if there were any
questions or corrections to the mintues - Commissioner Clark
stated that the"minutes stand approved"and Officer Cecere seconded.
Roll Call on the approval of the minutes was unanimous .
Commissioner Mumford then asked that the Treasurer give the
financial statement and Miss Birkbeck read the Annual Statement
for year ending September 30, 1977 . Opening balance as of
October 1, 1976 was $30, 504 .06 with total receipts being $16, 741.86
for a balance of $47 , 245.92 . Total disbursements were $2 , 975. 59
leaving a balance of $44, 270.33 as of September 30, 1977 .
Commissioner Clark made the Motion that the Treasurer ' s report
be accepted as read and Officer Cecere seconded the Motion.
Treasurer ' s report was approved unanimously.
/PM There was then discussion regarding the auditing of the books for
the Retirement Plan and Miss Birkbeck was quite concerned about
this inasmuch as the IRS has to be furnished with an annual statement
\
Board of Trustees
Retirement Plan
w Regular Quarterly Meeting
ern) October 27 , 1977 Page 2 of
by December 31, 1977 . It was felt that the Town' s auditing firm,
Nowlen, Lynch and Stewart, could audit these books at a reasonable
cost, and the charge for this audit would be paid from the
Reitrement Plan's funds.
The next matter to be brought up was the appointing of a Trustee
of the Pension Plan for the year beginning October 1, 1977, by
the employees. Town Hall employees appointed Maree Birkbeck and
the Police Department appointed Officer Cecere for the coming year.
Miss Birkbeck then requested that she wished to discontinue her
voluntary contributions to the Pension Plan as of October 1, 1977.
The next matter brought up by Miss Birkbeck was the subject of
having an expert look over our Pension Plan and bring it up to date.
Miss Birkbeck has discussed this with Mrs. Roberts, Town Manager,
who, in turn, contacted the Town Attorney, Mr. Sliney. Mr. Sliney's
answer was to the effect that first of all, the Plan be reviewed
by a firm specializing in Pension Plans and have that firm submit
fl a written critique to the Town of Highland Beach. At that point,
Mr. Sliney's office would coordinate with the consultants and
join in with a review of the project. Copy of Mr. Sliney's letter
is attached. Miss Birkbeck then stated that she had talked with
the auditors regarding this and they informed her that they would
have some one who could up-date this plan. It is imperative that
this matter be taken care of shortly. Commissioner Clark felt that
since this was the Town's Pension Plan it would be a Commission
action and should be paid for by the Town.
Being no further business to come before the Board of Trustees, the
meeting ADJOURNED at 9:20 A.M.
(Absent)
Morton E.. Gilday,-� Chairman
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Rpth E. Mumford, ecretary
ATTEST:
cording Secretary �- ��-� -"- "-- -= ' "
M. Maree Birkbeck,Wreasurer /s
Dated: October 27 , 1977 f4 #
644-AX-
Officer
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Robert D. Clark,ICommissioner
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Officer William Cecere