Volunteer Firefighter Relief Fund Committee

City of Norwich Volunteer Firefighters’ Relief Fund Committee Minutes Special Meeting July 5, 2006 The Volunteer Firefighters’ Relief Fund Committee held a special meeting on Wednesday, July 5, 2006 at 5:30 p.m. in room 209, City Hall, Norwich, Connecticut. This meeting was a continuation of the June 20, 2006 special meeting. 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 Dennis Davis, City Pension Board Member John Crooks, guest Alderman Joseph Murray, City Treasurer Members absent were: Robert Zarnestke, City Manager Joseph Ruffo, Comptroller/Treasurer Richard Benoit called the meeting to order at 5:35 p.m. 1. Minutes a. No meeting minutes were reviewed, as to the meeting being a continuation of business from the June 20, meeting. 2. Reports: a. The Treasurer’s report for May 2006 was presented and reviewed. Motion made by Dennis Davis, seconded by Donald Leary to accept the report as read. Approved. 3. Communications: None 4. Old Business - The Committee resumed its agenda from the June 20, 2006 meeting. a. Review of Investment Policy Statement and the editorial changes from the June 20, 2006 meeting. (The Committee suspended the meeting while Mr. Pothier made 10  copies of the Draft Investment Policy Statement with editorial changes incorporated for those members who had not brought the emailed version with them). 1. The Committee, the City Treasurer and Alderman Crooks reviewed the Statement line-by-line and concluded that it was accurate, complete and ready for Committee action. 2. Mr. Murray, City Treasurer, commented that the new Policy Statement was certainly an enhancement to the Committee’s overall management of the Volunteer Firefighters’ Relief Fund. He further stated that he endorsed the Policy Statement and thought the Committee was “moving in the right direction”. 3. A brief discussion regarding the availability of the Prudential Services’ office in Norwich (David Changill) and North Pointe Investment Partners (Bruce Sabourin) to provide investment services to the Committee, ensued. i. The Committee agreed that the American Funds would be a strong potential for the Committee to utilize going forward. 4. A motion was made by Thomas Dawkins, seconded by Thomas Quinley to accept the Investment Policy Statement as read with minor editorial corrections as discussed by the Committee. Approved unanimously. 5. The Policy Statement is to be sent to all Committee members and the potential Investment Consultants in preparation for the next meeting. 5. Next meeting to be held on August 7, 2006 and 1700 hours. 6. The Committee discussed the lack of notation of the Volunteer Firefighters’ Tax Abatement Credit on the City of Norwich Tax bills. Josh Pothier/Joseph Ruffo took the action item to investigate and correct with the Tax Assessor’s Office the lack of notation. Motion made to adjourn by Thomas Quinley, seconded by Dennis Davis. Approved. Meeting adjourned at 1818 hrs. Respectfully Submitted, Thomas G. Quinley August 7, 2006