HomeMy WebLinkAboutPresentation_Regular_3/14/2024 (2)Summary of Actions for Quarter ending 1 Presented March 14, 2024Update as of December 31, 2023
2 scheduled for May 6, 2024.The next regular quarterly Board meeting is on February 5, 2024.The regular quarterly Board meeting was held
GRS Consulting 3
4.affectedsimilarlybewillcontributionVillagetheanddifferencetheonbasedlessormorebeeitherwillreservethefromtransferredamountthedifferent,isreceivedamounttheIf.867,108$bewillmoney185thethatexpectation
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7 Village contribution is relatively stableThe ◦funds that he works with; and Village contribution is low and among the lowest for the Public Safety The ◦Plan is overfunded and assumptions
are reasonable;The ◦because:Plan is in good condition The Actuary commented that the .gainsoffsettingofabsencetheinyearsseveralnexttheoverrecognizedgraduallybewilldifferenceThe.446,762,1$byvalueact
uarialthethanlessisassetstheofvaluemarketthevaluation,theofAs.yearlast%0.102tocompared%0.100isratiofundedThe
AndCo Consulting 8
9 Cash Equivalent 0.5% ◦Real Estate 8.7%◦Global Fixed Income 3.8%◦Domestic Fixed Income 18.9%◦International Equity 14.0%◦Domestic Equity 54.0%◦was: At the end of the quarter, the asset
allocation was $24,014,260At the end of the quarter, the Plan’s market value 2023 reportJennifer Gainfort reviewed the December 31,
10 12.23%.FY 2023 ended with a 9.35% return vs bench at This is the fiscal year to date number, as well. 5.23%-7.78% vs bench at -Real Estate Global Fixed Inc. 7.80% vs bench at 7.32%Dom.
Fixed Inc. 7.70% vs bench at 6.82%Equity 8.40% vs bench at 9.82%Intern’lDom. Equity 11.48% vs bench at 12.07%Total Fund (Gross) 8.16% vs bench at 8.69%
11 inception)Real Estate 2.84% vs bench at 5.81% (7/1/2016 (10/1/2013 inception)Global Fixed Inc. 0.46% vs bench at 2.52% (4/1/2005 inception)Dom. Fixed Inc. 3.00% vs bench at 3.00%
inception)Intern’l Equity 6.09% vs bench at 5.25% (5/1/2010 inception)Dom. Equity 8.86% vs bench at 9.67% (4/1/2005 (5/1/2005 inception) Total Fund (Gross) 6.77% vs bench 7.14%
12 DFA Intl Value (DFIVX) 0.28◦Growth (RERGX) 0.46Europacific◦International EquitySpecial Small Cap Value R6 (ESPRX) 0.81Allspring◦JP Morgan Equity Income R6 (OIEJX) 0.45◦MFS Growth
Fund R6 (MFEKX) 0.50◦Vanguard Total Stock Market Index (VITSX) 0.03◦Domestic Equity
13 Total Fund fees are 0.35 basis pointsASB Real Estate 1.00◦Real EstatePIMCO Diversified Income (PDIIX) 0.75◦Global Fixed IncomeGarcia Hamilton 0.25◦Domestic Fixed Income
14 since inception.percentile st The total fund returns were in the 61year period.-for the 5percentile nd The total fund returns were in the 52year period.-for the 3percentile th
The total fund returns were in the 68year period.-for the onepercentile nd The total fund returns were in the 72for this fiscal year to date.percentile nd The total fund returns were
in the 52
15 investment. The Board requested redemption of the ASB performance. $13,000,000 difference is due to market 2023 was $10,829,973. The approximately The net cash flow of the plan
as of December 31, $5,250,000 to $24,014,260.plan has grown in market value from about Since September of 2007 inception of data, the
16 associates.Mariner is a national wealth advisor with over 1500 ◦remain in place for the Tequesta Funds.The same service provider, contract, and terms will ◦keeping its own RIA and
having its own Form ADV.separate SEC registered investment adviser, Mariner Institutional will continue to exist as a ◦“Mariner Institutional.”name will become AndCo’son April 2, 2024.
with Mariner, LLC which is expected to close is entering into a strategic partnership AndCoThe Investment Consultant reported that
.17 report.Resource Centers was issued an unmodified discrepancies. There were no exceptions and testing to determine if there are any of the operation of organization, including 2023.
This is a review of the internal controls Report for the year ending September 30, 18 SOC 1 Type 2 Audit -completed their SSAEThe Administrator reported that they recently
.18 reimbursement in accordance with the GSA rates.Travel expense policy revised to allow for ◦New online Form 1 filing.◦contributions.have made arrangements to deposit their The interim
firefighters have all been contacted and ◦The Board attorney reported on: