1977.04.25_BTRB_Minutes_Regular TOWN OF HIGHLAND BEACH, FLORIDA
BOARD OF TRUSTEES
RETIREMENT PLAN
REGULAR QUARTERLY MEETING
April 25, 1977 9 : 15 A.M.
Mayor Gilday, as Chairman of the Board of Trustees of the
Retirement Plan, Town of Highland Beach, Highland Beach, Florida ,
called the Regular Quarterly Meeting to order at 9: 15 A.M. on
April 25, 1977 .
Present were:
Mayor Morton E. Gilday, Chairman
M. Maree Birkbeck, Treasurer
Commissioner Ruth E. Mumford, Secretary
Commissioner Robert D. Clark
Absent: Patrolman William Cecere
Also present:
Jane E. Barker, Recording Secretary
The purpose of this meeting was to receive from the Treasurer the
quarterly financial statement as of March 31, 1977 . Miss
Birkbeck gave a summary of the funds from the first of the year.
As of January 1, 1977 the balance in the fund was $35, 324.31
As of February 1, 1977 the balance was 35, 102 .78
And, as of March 1, 1977 the balance was 36, 174 .62
with a closing balance on March 31, 1977 of 37 , 785.06
Mayor Gilday stated that he was under the impression that when
somebody withdrew from the Plan, they were not getting their
interest on their money - but that it rebounded to those
remaining in the Retirement Plan. Miss Birkbeck stated that this
was not so and she read from Article 8 of the Retirement Plan.
enti
There was discussion regarding this matter and Mayor Gilday then
Board of Trustees
Retirement Plan
Regular Quarterly Meeting
April 25, 1977 Page 2 of
called for a Motion that the financial report be approved.
MOTION by Commissioner Mumford/Commissioner Clark: "I so move" .
ROLL CALL on the Motion Carried Unanimously.
Miss Birkbeck then reported that the Fund had made two payments -
one to Mrs . Lipsky and one to Mr. Drasal. Mrs . Lipsky ' s amounted
to $1, 255.74 plus interest of $90. 57 for a total of $1, 346 . 31
and Mr. Drasal ' s amounted to $212 .29 plus interest of $5.21 for
a total of $217 .50. These payments were made in April.
Mayor Gilday made mention of the fact that Mr. Drasal was not
really entitled to his money inasmuch as he had never resigned
from the Plan - but the amount was so small and after all, it
was his money.
MOTION was then made by Commissioner Clark and seconded by
flCommissioner Mumford that the meeting ADJOURN. Time - 9: 30 A.M.
Nth/ c
APPROVED: 4hr A. _
Morton E. Gi d- , , Chairman
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Ruth E. Mumford, Secr-ta y
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M. ree Birkbeck, Treasuerr1 LQ �A'
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/ Commissioner Robert D. Clark
ATTEST: cc -7, . Jnf4 4'-c- / /I.
)eecording Secretary , L CA.c1,.A.
Patrolman William Cecere
Dated: April 27 , 1977
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