Volunteer Firefighter Relief Fund Committee

City of Norwich Volunteer Firefighters’ Relief Fund Committee Minutes Special Meeting June 20, 2006 The Volunteer Firefighters’ Relief Fund Committee held a special meeting on Tuesday, June 20, 2006 at 5:00 p.m. in room 209, City Hall, Norwich, Connecticut. 1. Roll Call Members present were: Richard Benoit, Taftville Thomas Quinley, Yantic Thomas Dawkins, Personnel Manager Joseph Kochanski, Laurel Hill Karen Mankowski, Occum Joshua Pothier, Deputy Comptroller Red McKeon, Occum/Past Chairman Donald Leary, East Great Plain Members absent were: Robert Zarnestke, City Manager Dennis Davis, City Pension Board Member Joseph Ruffo, Comptroller/Treasurer John Crooks, guest Alderman Richard Benoit called the meeting to order at 5:06 p.m. 1. Minutes a. Review of last meeting minutes from the June 5, 2006 special meeting taken by Zarnestke/Dawkins were not prepared and ready for review. A motion made by Thomas Quinley to review the meeting minutes at the next scheduled meeting, seconded by Thomas Dawkins. Approved. 2. Reports: None 3. Communications: None 4. Old Business a. Purpose of this meeting is to review and vote on the draft investment policy statement for the Norwich Volunteer Firefighters’ Relief Fund. b. A review of the document by the Committee yielded the following corrective actions. 1. Grammatical corrections. i. All references to “Fireman’s/Firemen’s Relief Fund” will be changed to “Firefighters’ Relief Fund”  ii. Commas, misspelled words, hyphen use, and the use of which/that need to be addressed as noted. 2. Expected rate of return changed from inflation plus 3% to inflation plus 3-5%. 3. Inclusion of a formal definition of Investment Officer. 4. Inclusion of Annual Declaration of Conflicts of Interest statements signed by each Committee member and the Investment Officer. 5. Ensuring written confirmations of transactions are transmitted to the City Treasurer. 6. Inclusion of an annual report of the investment portfolio. 7. Policy amendments must be made with Committee approval. c. Joshua Pothier took the action to incorporate the corrections to the Investment Policy Statement and to distribute the corrected statement to the Committee members via email to the Committee members. d. A motion made to accept the revised investment policy statement with the incorporated corrections as noted above made by Thomas Quinley, seconded by Joseph Kochanski. Approved. 5. New Business. a. Motion made to suspend the Rules of Order to introduce new business made by Thomas Quinley, seconded by Joseph Kochanski. Approved. b. Richard Benoit introduced that Michael Lavallee of Taftville Volunteer Fire Department is requesting a refund of his Relief Fund contributions. Mr. Benoit stated that Mr. Lavallee had 15 years of credited service in the Relief Fund Plan. A motion was made by Thomas Quinley to return Mr. Lavallee’s funds to him following confirmation of years of credited service by the Comptroller’s Office. Seconded by Karen Mankowski, approved. c. Motion to return to regular agenda by Red McKeon, seconded by Donald Leary. Approved. Meeting returned to regular agenda. d. Richard Benoit reminded all Committee members that the public hearing for the Relief Fund Ordinance Revision and subsequent Council vote is scheduled for July 5, 2006 at 1900 hours. Motion made to adjourn by Thomas Quinley, seconded by Red McKeon. Approved. Meeting adjourned at 1825 hrs. Respectfully Submitted via email to Committee Members. Thomas G. Quinley July 5, 2006