HomeMy WebLinkAbout2000-06-16 Minutes• MINUTES OF A MEETING
OF THE
•
•
FAYETTEVILLE POLICE PENSION AND RELIEF FUND BOARD
JUNE 16, 2000
A regular meeting of the Fayetteville Police Pension and Relief Fund Board was held on June 15,
2000 at 1:30 p.m. in Room 326 of the City Administration Building located at 113 West
Mountain, Fayetteville, Arkansas.
PRESENT: Mayor Hanna, Eldon Roberts, Hollis Spencer, Randy Bradley, Dr. Mashburn and
City Clerk Heather Woodruff.
ABSENT: Jerry Friend.
MINUTES
Dr. Mashburn moved to approve the minutes with the addition of Hollis Spencer to the Election
Results. Mr. Bradley seconded the motion. Upon roll call the motion carred unammously.
PENSION LIST
The addition of Angela Munson to the Pension List was noted:
OTHER BUSINESS
Mr. Roberts stated he had met with Jerry Rose in regards to Tim Helder. He presented Mr.
Helder's work record from the County. Mr. Helder had served as a patrolman from July 1980 to
February 15, 1982. Mr. Helder did not have any intentions of retinng early, but would like to
have the option. He noted Mr. Helder would have in twenty years soon.
Mr. Bradley moved to allow Mr. Helder the use of County time, but if he decided to use it he
would have to pay into the City plan. Mr. Spencer seconded the motion.
Mr. Roberts noted he had estimated his pay -in to be approximately six percent. He added Mr.
Helder was the last officer with County time and that this could not come up again.
Upon roll call the motion carried unanimously.
INVESTMENT REPORT
Ms. Longer stated they were holding even. She felt the market would be volatile for a while, with
no leader this year. Last year, Technology Stocks were the leader. The Feds had increased fifty
base points, which was the sixth rate increase for the year. She felt the economy was going to
slow down
•
• Market value of their portfolio was 11.6 million dollars. Realized gains year to date were
$59,000. The Realized gains for the stock account was $59,000 during the first quarter. Net
•
increase of $81,000. Their expense report: total for this year was 1.1.3%%, last year 1.2%. Before
they had consolidated their accounts with her their costs had averaged 1.5%. Their bond
portfolio income yield was at 6.3%with a total increase in yield of 4.1%. She noted they had
been rolling bonds into higher maturities. Contributions and withdraws were at $86,000. The
total return history was 14%. Equity and Mutual Funds were 48% stock. There were strong
opportunities with stock, especially in the mid cap. They were heavily weighted in value stocks.
Meeting adjourned at 2:00 p.m.
•
•