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HomeMy WebLinkAboutDocumentation_Pension Public Safety_Tab 7.6 _05/04/2015Resource Centers 4360 Northlake Blvd., Suite 206 Palm Beach Gardens, FL 33410 FOR: VILLAGE OF TEQUESTA PUBLIC SAFETY OFFICERS' PENSION FUND INVOICES TQ BE,.REYIEWEb AND,AF?Pt�©UEDAT 5�O1a5 BOARD=1flIEE1wIC Marcum Accountants - Advisors $2,500.00 Services rendered with respect to Salem Trust's SSAE 16 for the period June 1, 2013 to June 30, 2014 Pension Resource Center $950.00 Administrative Fee - April 2015 Law Offices of Bonnie Jensen P. A. $2,493.98 Legal Services Rendered through 4/15/2015 Gamco Asset Management $5,459.00 Investment Management Fee - 1st Quarter 2015 Garcia Hamilton & Associates $2,150.00 Investment Management Fee - 1 st Quarter 2015 TOTAL TO BE APPROVED $13,552.98 Chairman Secretary Date Resource Centers 4360 Northlake Blvd., Suite 206 Palm Beach Gardens, FL 33410 FOR: VILLAGE OF TEQUESTA PUBLIC SAFETY OFFICERS' PENSION FUND INVOICES TO BE, REVIEWED AND APPROVED AT "5/04/1°5"BOARD MEETING Marcum Accountants - Advisors $2,500.00 Services rendered with respect to Salem Trust's SSAE 16 for the period June 1, 2013 to June 30, 2014 Pension Resource Center $950.00 Administrative Fee - April 2015 Law Offices of Bonnie Jensen P. A. $2,493.98 Legal Services Rendered through 4/15/2015 TOTAL TO BE APPROVED $5,943.98 Chairman Secretary Date o, .ACCOUNTANTS r ADVISORS ,,,4a1 -ch 18, 201J JoAnn Forsythe, Finance Director Viila<re of TequeSta 345 Tequesta. Drive Tecluesta, Fl. 33469 Re: A_ddenrlurn to Our Evigagernent Letter Dated April 12, 201.2 for Retirernent Systern Services re Salerrr Trust As a result of the adverse opinion received by U.S. Fiduciary Services, Inc. (of which Salem Trust Company is a subsidiary} fi-om their service auditor- with respect to their SSAE 16; SOC 1; Type 2 Service Auditor's Report for the period from June 1, 2013 to June 30, 2014, we are not able to rely on the completeness and accuracy of their- custodial statements as of and for the fiscal year ended September 30, 2014 which we obtained through the confirmation process. As the independent auditor of the Public Safety Officers' Pension Trust Fund and the General Ennployees` Pension Trust Fund, we have to perform additional procedures that were not anticipated in order to support an urnnlodified opinion. We estimate these fees will be $2,500 for each Plan totaling $5,000. This will also provide some additional comfort to you for the completeness and accuracy of the Salem Trust Company custodial statements as of September 30, 2014. All other terms and conditions of our encagement letter remain in effect. Please sign below to acknowledge your agreement for these additional fees. Sincerely, Michael D. Futterman. CPA Par ner / Siv nature p Title / bate n NAARCUMC ?;-,i ` F ;.n B F. F. Mareurn LLP . 525 Okeechohee Boulevard Sull:e 750 k 'West Palm „each, Ronda 3,i401 * Phone 561.53.7300 � Fax 56-1,1353.7301 - [narcinpllp,com Resource Centers, LLC 4360 Northlake Blvd., Suite 206 -- - Palm Beach Gardens, FL 33410 Tequesta Public Safety Pension Fund Date Invoice # 4/1/2015 13828 Tax ID Financial Resource Center 87-0800465 Pension Resource Center 36-4504183 Resource Centers 87-0800468 Description Qty Rate Amount Tequesta Public Safety Pension Monthly Administrator Fee for April 2015 950.00 950.00 Total ,mount Due $950.00 Mail Payments to: Resource Centers, LLC at Palm Beach Gardens address above or ACH Payment to: CenterState Bank Pension Resource Center ABA #: 063114030 Account#: 8063659206 If you have any questions concerning this invoice, please contact Bonnie Lindberg at Resource Centers, LLC Phone 561.459.2959 or email - bonnie@ResourceCenters.com LAW OFFICES OF April 23, 2015 Via Email Village of Tequesta Public Safety Officers' Pension Trust Fund Dixie Martinez, Administrator Resource Centers, LLC 4360 Northlake Boulevard, Suite 206 Palm Beach Gardens, FL 33410 Re: Legal Services Provided Invoice #73105 Dear Dixie: Ili-ro�So Enclosed please find the Firm's invoice for services rendered for the period that ended 4/15/2015. Thank you for your payment of $3,592.27. Your current balance due is $2,493.98. If you have any questions, please do not hesitate to contact me. Sincerely yours, BonniS.Jensen Signed in Ms. Jensen's absence to expedite delivery BSJ/ig Enclosure Copy to: Ray Giblin, Secretary Kerry Dutton Via Email Only 400 EXECUTIVE CENTER DRIVE, SUITE 207 6 NEST PALM BEACH, FLORIDA 33401-2922 PHONE: (561) 686-6550 + FAX: (561) 686-2802 LAW OFFICES OF BONNI JENSEN, P.A. 400 Executive Center Drive Suite 207 West Palm Beach, FL 33401-2922 bsjteam@robertdklausner.com & bon ni@robertdklausner.corn Invoice submitted to: Tequesta Public Safety Officers' Pension Trust Fund Dixie Martinez, Administrator -Via Email Resource Centers, LLC. 4360 Northlake Boulevard, Suite 206 Palm Beach Gardens, FL 33410 Copy to: Chairman, Secretary, & Kerry April 22, 2015 In Reference To: For professional services rendered as follows: Client / File No.: 1011 Invoice #73105 Professional Services from Primary Client Attendance at Trustee Meetings Attendance at Trustee Meetings 3/30/2015 LG Review Post Special Meeting Folder Attendance at Trustee Meetings SUBTOTAL: For professional services rendered You are responsible for 50.00% of time charges: For professional services rendered Your responsibility of the split charges Hrs/Rate Amount 0.20 15.00 75.00/hr ( 0.20 15.00] 0.20 $15.00 0.10 $7.50 0.20 $15.00 0.10 $7.50 Tequesta Public Safety Officers' Pension Trust Fund Professional Services Actuary - GRS Actuary - GRS 3/1612015 BSJ Correspondence with Kerry Dutton re: Original 2004 Agreement Actuary - GRS Actuary - GRS PH E-mail to Kerry Dutton, Dixie Martinez, Chairman & Secretary re: Original 2004 Agreement Ship via UPS to Kerry Dutton Actuary - GRS SUBTOTAL: Annual Audit Annual Audit 3/23/2015 BSJ Telephone call with Michael Futterman Annual Audit SUBTOTAL: Attendance at Trustee Meeting Attendance at Trustee Meeting 3/30/2015 BSJ Attend Meeting Attendance at Trustee Meeting SUBTOTAL: Custodian - Salem Trust Custodian - Salem Trust 3/30/2015 BSJ Review Request For Proposal Responses Custodian - Salem Trust SUBTOTAL: Page 2 Hrs/Rate Amount 0.50 112.50 225.00/hr 0.30 22.50 75.00/hr [ 0.80 135.00] 0.10 22.50 225.00/hr [ 0.10 22.50] 1.80 405.00 225.00/hr 1.80 405,00] 0.40 90.00 225.00/hr [ 0.40 90.00] Tequesta Public Safety Officers' Pension Trust Fund Page 3 Hrs/Rate Amount DROP DROP 3/26/2015 BSJ Review Status Update re: Internal Revenue Service DROP Language 0.10 22.50 Rev. Ruling 1968-647 & Rev. Ruling 71-24 225.00/hr DROP SUBTOTAL: [ 22.50] 0.10 Inv Mqr - ASB Allegiance Inv Mgr - ASB Allegiance 3/16/2015 BSJ E-mail to ASB re: Tax Qualification of Plan Explanation of DROP 0.75 168.75 Inv Mgr - ASB Allegiance 225.00/hr Inv Mgr - ASB Allegiance BSJ Review email from Taryn Fielder 0.75 168.75 Draft Letter to ASB 225.00/hr Inv Mgr - ASB Allegiance Inv Mgr - ASB Allegiance 3/20/2015 BSJ Correspondence with Taryn Fielder with ASB re: Internal Revenue 0.50 112.50 Service Determination Letter Explanation 225.00/hr Inv Mgr -ASB Allegiance Inv Mgr - ASB Allegiance PH E-mail to Taryn Fielder with ASB, Administrator, Chairman & Secretary 0.10 7.50 re: Internal Revenue Service Determination Letter Explanation 75.00/hr Inv Mgr -ASB Allegiance Inv Mgr - ASB Allegiance 3/26/2015 LG Prepare a 2015 Form W-9 for Signature at the Next Meeting 0.10 7.50 Inv Mgr - ASB Allegiance 75.00/hr Inv Mgr - ASB Allegiance 3/30/2015 PH E-mail to Hsuan Wang, Allison Ferko, Administrator re: W-9 Form & 0.20 15.00 Account Information Form 75.00/hr Inv Mgr - ASB Allegiance Tequesta Public Safety Officers' Pension Trust Fund Page 4 Hrs/Rate Amount Inv Mgr - ASB Allegiance 3/31/2015 BSJ Review emails from Hsuan Wang re: EINs 0.25 56.25 Telephone call with Hsuan Wang 225.00/hr Inv Mgr - ASB Allegiance Inv Mgr - ASB Allegiance BSJ Correspondence with Hsuan Wang re: W-9 Form & Account information 0.50 112.50 Form 225.00/hr inv Mgr - ASB Allegiance Inv Mgr - ASB Allegiance PH E-mail to Hsuan Wang, Administrator, Tyler Grumbles, Allison Ferko, 0.30 22.50 Chairman & Secretary re: W-9 Form & Account Information Form 75.00/hr Ship via UPS to Hsuan Wang Inv Mgr - ASB Allegiance Inv Mgr - ASB Allegiance 4/6/2015 BSJ Correspondence with Kerry Dutton re: investment Manager Agreement & 0.50 112,50 Side Letter 225.00/hr Inv Mgr - ASB Allegiance inv Mgr - ASB Allegiance PH E-mail to Kerry Dutton, Dixie Martinez, Ed Sabin, & Ray Giblin re: 0.30 22.50 Investment Manager Agreement & Side Letter 75.00/hr Ship via UPS to Kerry Dutton inv Mgr - ASB Allegiance SUBTOTAL: [ 4.25 806.25] IRS Determination Letter IRS Determination Letter 4/7/2015 BSJ Review Fax from Ruth Chen re: Request for Additional Information 0.25 56.25 IRS Determination Letter 225.00/hr IRS Determination Letter 4/13/2015 BSJ E-mails to Scott Baur & Tyler Grumbles re: Determination of Process for 0.50 112.50 Calculating Rate of Return 225.00/hr Review Letter from Internal Revenue Service IRS Determination Letter Tequesta Public Safety Officers' Pension Trust Fund Page 5 Hrs/Rate Amount IRS Determination Letter 4/14/2015 BSJ Telephone call with Tyler Grumbles & Scott Baur re: Response to Internal 0.50 112.50 Revenue Service & Calculation of Investment Rate of Return 225.00/hr Review email from Tyler Grumbles re: Modified Dietz Formula E-mail to Scott Baur re: Balance Interest is Credited On IRS Determination Letter SUBTOTAL: ( 1.25 281.25] Meeting Notices and Agendas Meeting Notices and Agendas 3/27/2015 PH Prepare Attorney Report, Handouts, and Notebook for upcoming Joint 0.30 22.50 Special Meeting - 3/30/15 75.00/hr Meeting Notices and Agendas Meeting Notices and Agendas 3/30/2015 PH Download Request For Proposal Material for Meeting 0.40 30.00 Meeting Notices and Agendas 75.00/hr SUBTOTAL: [ 0.70 52.501 Misc Matters Misc Matters 3/19/2015 BSJ Review HB 1279 0.06 13.50 Misc Matters 225.00/hr Misc Matters 4/8/2015 BSJ Review HB 341 0.35 78.75 Misc Matters 225.00/hr SUBTOTAL: [ 0A1 92.25] Monitor/Consultant - BOGDAHN Monitor/Consultant - BOGDAHN 3/16/2015 BSJ Correspondence with Kerry Dutton re: Original Addendum for Signature 0.50 112.50 by Board 225.00/hr Monitor/Consultant - BOGDAHN Tequesta Public Safety Officers' Pension Trust Fund Page 6 Hrs/Rate Amount SUBTOTAL: [ 2.75 393.751 For professional services rendered 13.36 $2,436.00 Additional Charges Bill File 4/15/2015 Copy Charges 16.20 SUBTOTAL: [ 16.20] Inv Mqr - ASB Allegiance 3/31/2015 United Parcel Service Invoice No.: OOOOF49280145 20.25 Tracking #1 ZF492801396632119 to Hsuan Wang re: Original W-9 Form Monitor/Consultant - BOGDAHN 3/16/2015 PH E-mail to Kerry Dutton, Richard Spurgeon, Dixie Martinez, Chairman & 0.30 22.50 Secretary re: Original Addendum for Signature by Board 75.00/hr Ship via UPS to Kerry Dutton Monitor/Consultant - BOGDAHN SUBTOTAL: [ 0.80 135.00] Summary Plan Description Summary Plan Description 3/30/2015 LG Revise Summary Plan Description per Bonni's mark up to include 1.50 112.50 Ordinance 1-15 75.00/hr Summary Plan Description Summary Plan Description 4/7/2015 BSJ Review and revise Summary Plan Description 1.00 225.00 Summary Pian Description 225.00/hr Summary Plan Description 4/12/2015 BSJ Review and revise Summary Plan Description 0.25 56.25 Summary Plan Description 225.00/hr SUBTOTAL: [ 2.75 393.751 For professional services rendered 13.36 $2,436.00 Additional Charges Bill File 4/15/2015 Copy Charges 16.20 SUBTOTAL: [ 16.20] Inv Mqr - ASB Allegiance 3/31/2015 United Parcel Service Invoice No.: OOOOF49280145 20.25 Tracking #1 ZF492801396632119 to Hsuan Wang re: Original W-9 Form Tequesta Public Safety Officers' Pension Trust Fund Page 7 Amount 3/31/2015 United Parcel Service Invoice No.: 000OF49280145 3.53 Tracking #1 ZF492801396632119 Pickup Request No.: 2953308RN9C Re: Original W-9 Form 4/6/2015 United Parcel Service invoice No.: 000OF49280155 3.48 Tracking #1ZF492800393607000 to Kerry Dutton re: Original Investment Manager Agreement & Side Letter SUBTOTAL: [ 27.26] Monitor/Consultant - BOGDAHN 3/16/2015 United Parcel Service Invoice No.: 000OF49280125 3.49 Tracking #1ZF492800398339854 to Kerry Dutton re: Original Bogdahn Addendum & 2004 Agreement United Parcel Service Invoice No.: 000OF49280125 3.53 Tracking #1ZF492800398339854 Pickup Request No.: 2952H4HRFBI Re: Original Bogdahn Addendum & 2004 Agreement SUBTOTAL: [ 7.02] Total additional charges $50.48 For professional services rendered 13.36 $2,486.48 Total amount of this bill $2,493.98 Previous balance $3,592.27 Accounts receivable transactions 4/9/2015 Payment - Thank You!. Check No. 00001187 ($3,592.27) Total payments and adjustments ($3,592.27) Balance due $2,493.98 VILLAGE OF TEQUESTA PUBLIC SAFETY OFFICERS' PENSION TRUST FAX: (713) 853-2308 FUND WWW.GARC[AHAMILTONASSOCIATES.COM (3040001128) tpopp via email:paymentgroup@,resoureecenters.com kerry@i-esoureecenters.com- Y � x GARCIA HAMILTON & ASSOCIATES STATEMENT OF MANAGEMENT FEES For The Period January 1., 2015 through March 31, 2015 Portfolio Valuation with Accrued .Interest as of 03-31-15 $ 3,440,006.65 3,440,007 @0,250% per annum 2,150.00 Quarterly Management Fee $ 2,150.00 TOTAL DUE AND PAYABLE $ 2,150.00