HomeMy WebLinkAboutCOMM - Meeting Minutes - 169 - 12-23-1997 - RETIREMENTSold By IMR Limited Form 825 E417350
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Minute No. 169
Washington County Retirement Board
Washington, Pa., December 23, 1997
The monthly meeting of the Washington County Retirement Board was held at
approximately 2:30 p.m. on Tuesday, December 23, 1997, in the Public Meeting Room,
Courthouse Square Office Building, Washington, Pennsylvania, with the following
members being present: Commissioners Diana L. Irey, J. Bracken Burns, Sr., Joseph A.
Ford, Sr.; Treasurer Francis King, and Controller Paul Belcastro. Also being present:
Michelle Miller, Chief Clerk; Roger Metcalfe, Budget Director; Joe Smydo, Observer -
Reporter; Kathy Thomas, Valley Independent; and Chris Haines, Herald Standard.
Approval of Minutes
Commissioner Irey entertained a motion to approve Minute No. 168 dated
November 26, 1997.
Moved by Mr. Belcastro, seconded by Mr. Ford, that Minute No. 168 dated
November 26, 1997 be approved as written.
Roll call vote taken:
Mr. Belcastro - Yes; Mr. King - Yes; Mr. Ford - Yes; Mr. Burns - Yes; Mrs. Irey -
Yes.
Motion carried unanimously.
Treasurer's Report
RETIREMENT ALLOWANCE REPORT
Bank Balance as of November 1, 1997 $ 116,829.55
I Deposits to Checking Account
Transfers to Investment Account
I Credit: Bank Error - (Check Printing Fee)
Less: Cancelled Checks
Less: Transfers to Investment Account
Bank Balance as of December 1, 1997
Less: Outstanding Checks
Less: Retirement Check run as of November 30, 1997
I Reconciled Balance as of December 23, 1997
119,516.95
149,560.02
10.74
143,271.79
128,160.14
$ 114,485.33
18,541.12
95,944.21
$ 0.00
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Moved by Mr. Belcastro, seconded by Mr. Burns, that the Treasurer's Report be
approved as submitted.
Roll call vote taken:
Mr. Belcastro - Yes; Mr. King - Yes; Mr. Ford - Yes; Mr. Burns - Yes; Mrs. Irey -
Yes.
Motion
carried unanimously.
Requisitions
Moved by Mr. Belcastro, seconded by Mr. King, that the following Requisitions
be approved:
Check No.
Payee
Amount
1772
Lavera Parkinson $
16,026.18
1773
Ramont C. Small
633.44
1774
Advest Inc. FBO Kathryn M. Vaccari
Account Number 672-70878-1-6
15,517.91
1775
Joseph M. Zupancic
3,441.84
1776
Washington County General Fund
To reimburse for check number 1771
(Fidelity Management Trust Co.
as Trustee of IRA of Kathy M. McCullough
- Testa)
15,950.77
1777
Estate of Kathryn Whalen
103.57 -
1778
Estate of Andrew T. Dezack
25.91
1779
Fred A. Lombardo, Jr.
37,324.83
1780
Regular Payroll Escrow Account
258.36
Transfer:
PNC Bank
13,016.19
Transfer:
Washington County Cash Disbursement
26,466.07
Transfer:
Washington County Retirement Allowance
110,382.30
TOTAL TO BE TRANSFERRED $239,147.37
Roll call vote taken:
Mr. Belcastro - Yes; Mr. King - Yes; Mr. Ford - Yes; Mr. Burns - Yes; Mrs. Irey -
Yes.
Motion carried unanimously.
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Old Business
Discussion on RFPs received for selection of additional money managers.
Commissioner Irey led the discussion by asking if the Retirement Board wanted
to discuss the RFPs or schedule a special meeting for this purpose. Commissioner Ford
made a motion to schedule a special meeting to discuss the RFPs received for the
selection of additional money managers. Commissioner Irey seconded the motion.
Roll call taken
Mr. Belcastro - Yes, Mr. Ding - Yes, Mr. Ford - Yes, Mr. Burns - Yes, Mrs. Irey -
Yes.
Motion carried unanimously.
Commissioner Irey then asked the Chief Clerk to schedule the special meeting
of the Retirement Board. Commissioner Ford asked that Frank Domisen by contacted
to determine if he is available for questions during the selection discussion.
New Business
To Be Noted For The Record - Retirement Repurchase
The following active County employee will purchase her service credit for the
following period of time:
Marlene Luketich
Service time to be purchased: 8/1/77 to 3/18/82
$4,256.52 lump sum payment on 12/9/97.
There being no further business, Chairman Irey declared the meeting adjourned
at approximately 2:45 p.m.
THE FOREGOING MINUTES SUBMITTED FOR APPROVAL:
ATTEST:
SECRETARY