Volunteer Firefighter Relief Fund Committee

To: Members of the Volunteer Firefighter Relief Fund Committee From: Richard Benoit, Chairman of the Volunteer Firefighters’ Relief Fund Subject: Regular Meeting #137 Meeting Date: Monday, August 15, 2016 Meeting Time: 5:00 p.m. Meeting Location: Room 209, City Hall Agenda Items: 1. Call to Order 2. Review of June 30, 2016 investment results by Art Meizner from Hooker & Holcombe Investment Advisors (to be distributed) 3. Consideration of recommendations by Art Meizner for changes in investment portfolio. 4. Review of minutes from the Special Meeting on July 11, 2016 (available on the website) 5. Treasurer’s report for the quarter ended June 30, 2016 (attached) 6. Refund requests 7. New applications for benefits a. Yantic: Hugh Schnip – January 2017. 20 Years of Service. $440 monthly payment. Benefit payments effective upon the City’s receipt of payment by Mr. Murray for the purchase of 2016 credited service and the annual roster verifying the satisfaction of the training and call requirements certified by Yantic’s Chief. 8. Update on clarifications and corrections to Plan Codification. 9. Adjournment Please notify Richard Benoit (860) 886-1774 or Brigid Marks (860) 823-3786 if you are unable to attend the meeting. City of Norwich Volunteer Firefighters' Relief Fund Treasurer's Report For The Fiscal Year Ended 6/30/2016 X:\Finance\Finance Public\Accounting\Audit & Fiscal YE files\YE 2016\G. Investments\[G-3 2016 VFFRF cash & investments.xls]FY2016 Hooker & Checking Holcombe Total Beginning Balance (14,182.92) 2,196,290.92 2,182,108.00 Receipts: Annual City Appropriation 350,729.00 - 350,729.00 East Great Plain 5,808.00 - 5,808.00 Laurel Hill 264.00 - 264.00 Occum 1,584.00 - 1,584.00 Taftville 2,904.00 - 2,904.00 Yantic 5,280.00 - 5,280.00 Interest Income 219.46 - 219.46 Realized Gains/(Losses) - (3,272.75) (3,272.75) Unrealized Gains/(Losses) - (122,962.74) (122,962.74) Dividends - 125,879.80 125,879.80 - Total Receipts 366,788.46 (355.69) 366,432.77 Transfers Between Accounts (56,000.00) 56,000.00 - Disbursements: Refunds 1,544.60 - 1,544.60 Pensions Paid 299,438.00 - 299,438.00 Actuary Fees 8,350.00 - 8,350.00 Postage/ Other 731.21 - 731.21 Investment Fees - 8,655.55 8,655.55 Total Disbursements 310,063.81 8,655.55 318,719.36 Ending Balance (13,458.27) 2,243,279.68 2,229,821.41 City of Norwich Volunteer Firefighters' Relief Fund Treasurer's Report For The Quarter Ended 6/30/2016 X:\Finance\Finance Public\Accounting\Audit & Fiscal YE files\YE 2016\G. Investments\[G-3 2016 VFFRF cash & investments.xls]4Q Hooker & Checking Holcombe Total Beginning Balance 83,386.75 2,182,201.66 2,265,588.41 Receipts: Annual City Appropriation - - - East Great Plain - - - Laurel Hill - - - Occum - - - Taftville - - - Yantic - - - Interest Income 21.98 - 21.98 Realized Gains/(Losses) - (2,962.53) (2,962.53) Unrealized Gains/(Losses) - 42,572.96 42,572.96 Dividends - 9,634.64 9,634.64 - Total Receipts 21.98 49,245.07 49,267.05 Transfers Between Accounts (13,800.00) 13,800.00 - Disbursements: Refunds - - - Pensions Paid 76,215.00 - 76,215.00 Actuary Fees 6,500.00 - 6,500.00 Postage/ Other 352.00 - 352.00 Investment Fees - 1,967.05 1,967.05 Total Disbursements 83,067.00 1,967.05 85,034.05 Ending Balance (13,458.27) 2,243,279.68 2,229,821.41