1975.10.15_BTRB_Minutes_Regular BOARD OF TRUSTEES
RETIREMENT PLAN
ANNUAL MEETING
October 15, 1975 11:00 A.M.
The Annual Meeting of the Board of Trustees (Retirement Plan) of
the Town of Highland Beach was called to order by the Chairman of
the Board - Mayor Morton E. Gilday - at 11: 05 A.M. on Wednesday,
October 15, 1975.
Present were :
Mayor Morton E. Gilday, Chairman
Commissioner Ruth E. Mumford, Secretary
Anton Drasal, Treasurer
Commissioner Harry Bauer
Maree Birkbeck
Officer William Cecere
Bette Barker, Recording Secretary
eTh After the roll call, Chairman Gilday welcomed Maree Birkbeck to
the Board of Trustees ; made note of the fact that Officer Cecere
had been reelected by the members of the Police Department ; and
of the fact that Commissioners Mumford and Bauer had been reappointed
by the Town Commission - all to serve on this Board of Trustees.
First order of business was the Election of Officers . The Mayor -
as per the terms of the Retirement Plan - is always Chairman of
the Board of Trustees. Mayor Gilday asked for a nomination for
the office of Secretary of the Board of Trustees. Commissioner
Bauer/Officer Cecere moved and seconded that Commissioner Mumford
be nominated for the position of Secretary. Mr. Drasal moved
that the nominations be closed. Maree Birkbeck seconded the
motion .
ROLL CALL on the nominations for Mrs. Mumford as Secretary was
as follows: Mayor Gilday, Aye; Commissioner Bauer, Aye; Maree
Birkbeck, Aye; Officer Cecere, Aye ; with Commissioner Mumford
abstaining.
Mayor Gilday then asked for nominations for the office of Treasurer.
Mr. Drasal nominated Maree Birkbeck and Commissioner Mumford seconded.
ROLL CALL on the nomination for Maree Birkbeck as Treasurer was as
follows: Mayor Gilday, Aye ; Commissioner Mumford, Aye ; Commissioner
Bauer, Aye ; Patrolman Cecere, Aye; with Maree Birkbeck abstaining.
Board of Trustees (Retirement Plan)
Annual Meeting
October 15, 1975 Page 2 of 3
Mayor Gilday then asked if there were any other officers to be
elected for the new year and there were none .
There was a Motion by Commissioner Ruth Mumford - seconded by
Officer Cecere that Mr. Drasal continue to serve as adviser and
consultant to the Plan.
ROLL CALL on the Motion was carried unanimously.
After discussion, and upon the advice of Mr. Drasal, the attached
Financial Statement entitled Schedule I (which was read by Mr.
Drasal for the record) was accepted by the Board and, accordingly,
the Mayor requested a Motion to instruct the Treasurer to arrange
for transfer of the appropriate sum from the General Fund to the
Retirement Fund, as a result of the resignation of two of the
Town ' s employees, namely; Mrs . Ciomei and Mrs . Higgins.
Officer Cecere so moved. Seconded by Commissioner Bauer. Motion
carried.
The next order of business was to accept the three new members to
the Plan. Commissioner Bauer made the motion that effective
October 1, 1975 the following three new members be accepted to the
Plan:
Lucille Miller
John P. O'Grady
Bernice Smith
Officer Cecere seconded the motion and the ROLL CALL vote indicated
that the Motion was passed unanimously.
Mr. Drasal then announced that he had requested insurance companies
to make up a statement based on earnings showing how much each
individual employee would receive at retirement. (Attachment "B")
There was discussion concerning this report being given to the
employees but due to the fact that it was not official, it was
decided that if employees wished the information for their own
guidance, this would be given to them - but the report would not
be made public.
((T Consideration of Investment Possibilities was then discussed and
Mr. Drasal suggested that the Board should appoint an Investment
�. i
Board of Trustees (Retirement Plan)
Annual Meeting
October 15, 1975 Page 3 of 3
Committee. There was discussion regarding investments through
Government Bonds, Savings and Loan Associations and Treasury
Bills - and the interest they would pay.
In discussing the Investment Committee further, it was Mayor
Gilday' s suggestion that the complete Board of Trustees should
act as the Investment Committee, at least until they make their
initial investment.
The matter of how much should be invested will be decided upon
at the next Quarterly Meeting.
There was discussion concerning the Boca Federal Savings & Loan
and their insistence that all signatures on their cards should
be authorized to sign withdrawals but the Trustees'policy was
explained.
There being no further business, the meeting - •DJOURNED at
12:00 Noon.
ef
APPROVED i
Morton� E. Gilda , Chairman
fle
CommissionermfMmford,Secy.
T'�•--'_.n r_: _.
/ M ree Birkbeck, 'Treasurer7
C046iRED BY:
Commissioner Harry Bauer
Anton Drasal, Adviser Adviser
Officer William Cecere
ATTEST:
cording Secretary
Dated; October 20, 1975
L
TOWN OF HIGHLAND BEACH
RETIREMENT FUND
S
10-1-75 Opening Balance 15,901.87
- Savings a/c #001255-4 $ 72.72 - $ 15,974.59
- Checking x{200-012-1
RECEIPTS :
Sept/Nov. Town of Highland Beach 1,389.11
Employees Deductions 1,389.11
Voluntary Contributions 680.93
Other Income - Interest - o -
Town of Highland Beach
(July & August) 765.84
Town of Highland Beach (October) 182.25
TOTAL RECEIPTS 4,407.24
BALANCE: $ 20,381.83
DISBURSEMENTS:
411 10-10-75 TOWN OF HIGHLAND BEACH -
Initial Contribution $ 5,000.00
Less: Employee Allocation 4 419. 16 ..
•
TOTAL DISBURSEMENTS 580.84
•
BALANCE ON HAND, December 16, 1975 $ 19,800.99
SUMMARY
Boca Raton Federal Savings & Loan Assn. $ 19,728.27
University National Bank 72.72
$ 19,800.99
Respectfully-Submitted,
-s —•�-�-�.�z .�� Lit 1 _ ,
•
M. MAREE BIRKBECK1 Treasurer
01, cc: Board of Trustees Board of Trustees - 12/16/75
Finance Director
Town Manager
TOWN OF HIGHLAND BEACH /2J��j>
CGt /
RETIREMENT FUND ./� .,.
As Of September 30, 1975 ,i 777le A n,E T
Town's 5% Voluntary Forfeitures Total
NAMES Contributions Contributions Contributions & Interest Funds
B. Barker $1061.69 $ 387.50 $ 775.00 $ 125.66 $ 2,349.85
W. Cecere 509.60 509.60 1,018.68 104.97 2,142.85
B. Funck 318.76 318.76 - 43.35 680.87
E. Giordano 509.60 509.60 - 69.27 1,088.47
K. Jones 1404.90 708.76 245.34 152.26 2,511.26
M. Lipsky 609.59 199.01 276.95 64.67 1,150.22
E. Roberts 3014.90 806.00 - 259.75 4,080.65
J. Ryan 575.12 575.12 110.60 82.05 1,342.89.
L. Tremitiedi 509.60 509.60 - 69.27 1,088.47
TOTALS $8513.76 $4,523.95 $2,426.57 $ 971.25 $16,435.53
A
INCOME
Forfeitures:
T. Higgins $429.35
Interest Received $595.71
Interest Paid -53.81
Not Tnhorooh Anro{,.o.i CC/.1 on
Buil'
Bank
Due
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TOWN OF HIGHLAND BEACH RETIREMENT PLAN
May 27, 1975
Board of Trustees of The Town of Highland Beach Retirement Plan
I ,Shalia Higgins, Treasurer of the Board of Trustees, do hereby
submit a Final Accounting of THE TOWN OF HIGHLAND BEACH RETIREMENT
PLAN as of this date May 27, 1975.
Balance on Hand; Town of Highland Beach Retirement Plan
Checking Account at The University National
Bank - Account # 200-0-2-1 $ 15.25
Balance on Hand: Boca Raton Federal Savings & Loan Assoc.
Account # 03-1-001255-4 13,365.90
Total amount on Hand as of May 27, 1975 $13,381.15
Respectfully submitted,
Thalia Hi
ACCEPTED :
Finance Director
May 27, 1975
Thalia Higgins
875 SW 4th Court, Apt. # 9B
Boca Raton, Florida 33432
Trustees of The Town of Highland Beach Retirement Plan
The Town of Highland Beach
3614 South Ocean Blvd.
Highland Beach
Florida 33444
RE: Request for payment of contribution made as as Employee of The
Town of Highland Beach.
Having submitted my resignation as an employee of The Town of Highland
Beach, effective June 13, 1975; and having terminated my MAINNINYIV
Contribution to the Town Retirement Plan as of May 23, 1975, I hereby
request a refund of my contribution to the Plan, with interest thereon
erto the above name and address.
Thank you for your promt attention tokhas matter.
Sincerely yours,
i
I //t&c.) 2,(iLC
Thalia Higgins