Loading...
HomeMy WebLinkAboutBack-Up DocumentsSUMMARY OF REMOTE/VIDEO-CONFERENCE BOARD MEETING OF THE CITY OF MIAMI GENERAL EMPLOYEES' AND SANITATION EMPLOYEES' RETIREMENT TRUST THE ROSE GORDON BUILDING 2901 BRIDGEPORT AVENUE WALDEMAR LEE CONFERENCE ROOM COCONUT GROVE, FLORIDA 33133 TELEPHONE:305-441-2300 FAX:305-441-2307 WWW.GESE.ORG FRIDAY, MARCH 18, 2022 9:00 AM MEMBERS: LUIS FERNANDEZ (Remotely) CLARENCE GRAVES (Physically Present) PORFIRIO JIMENEZ (Logged in Late -Remotely) MARY LUGO (Logged in Late -Remotely) OLGA TORRES (Remotely) SEAN MOY (Logged in Late -Remotely) ANN MARIE SHARPE (Remotely) JOE SIMMONS, A. (Physically Present) COREY TAYLOR (Remotely) ALSO PARTICIPATING: EDGARD HERNANDEZ YVES LOUISSAINT ANNIE KONENGE NELSIA KING TODD GREEN VANESSA HERNANDEZ ALIBEL SANCHEZ SELBY THORNE RON A. SILVER, ESQ. HILDA THOMPSON ENRIQUE RAMOS WALLY WILSON JOSE FERNANDEZ ELENA VALDES FELICIA ARCHIE 1 ADMINISTRATOR'S REPORT: Proposed Annual Comprehensive Financial Report (Draft) for fiscal year ended September 30, 2021 - Mr. Hernandez stated that there are 5 sections in the CAFR; which are the 1. Introductory Section — includes the Transmittal, 2. The Financial Section — Audited financial performance results, 3. The Investment Section - Audited financial performance results, 4. The Actuarial Section - Audited financial performance results and 5. The Statistical Section — Based on plan's analytical data. This is due to the Government Finance Officers Association by March 31 s'. Mr. Hernandez asked for a motion to approve the report. Trustee Graves moved to approve. Trustee Simmons seconded the motion. The motion was unanimously approved. Trustees Jimenez, and Chairman Moy were absent for this motion. Proposed GESE Plan budget for fiscal year October 1, 2022, to September 30, 2023 — Mr. Hernandez stated that the total administrative budget decreased by 4.6%, roughly $150,000 from last year's budget. Total salaries and wages decreased by 2.27%. Total Personnel Services decreased by 5.57%. Total Professional Services decreased by 13.0%. Total Office & Administrative increased by 3.55%. Insurance increased by 24.18%. Occupancy increased by 5.4%. Trustee Simmons asked on the status of the staff joining the city's insurance. Mr. Hernandez stated that he met with the City Manager and Assistant Manager, and they were in favor of presenting it to the City Commission. We just have to find a date to request it on the agenda. Mr. Hernandez added that it can be done in June. This would be a cost savings of approximately $100,000. A lengthy discussion took place. Chairman Moy joined the meeting during this report. Mr. Hernandez went over each line item on the budget. Chairman Moy suggested creating a pay scale for the staff that reflect annual step increases and cost of living increases. Trustee Simmons stated that this was a great idea. Mr. Hernandez stated that he would create the pay scale. Some additional discussion took place. Trustee Jimenez joined the meeting via Zoom at this time. Trustee Fernandez moved to adopt the GESE Budget. Vice -Chair Taylor seconded the motion. The motion was unanimously approved. Proposed Excess Plan budget for fiscal year October 1, 2022, to September 30, 2023 - Mr. Hernandez stated that the Excess Budget is a percentage of the GESE Budget. We are not allowed to pay fees incurred by the Excess Plan from the GESE Trust. The Total Administrative Costs decreased by 4.17%. It went from $110,991 to $106,363, a decrease of $4,628.00. Mr. Hernandez stated that this was an allocation budget. Some discussion took place. Trustee Simmons moved to adopt the Excess Budget. Trustee Graves seconded the motion. The motion was unanimously approved. 4 MOTIONS OF REMOTE/VIDEO-CONFERENCE BOARD MEETING OF THE CITY OF MIAMI GENERAL EMPLOYEES' AND SANITATION EMPLOYEES' RETIREMENT TRUST THE ROSE GORDON BUILDING 2901 BRIDGEPORT AVENUE WALDEMAR LEE CONFERENCE ROOM COCONUT GROVE, FLORIDA 33133 TELEPHONE:305-441-2300 FAX:305-441-2307 WWW.GESE.ORG FRIDAY, MARCH 18, 2022 MOTIONS 1. Motion to continue with the current Chair until the next meeting and defer the election until a full board is present. Moved by Trustee Fernandez Seconded by Trustee Torres Item discussed and moved on page 2. 2. Motion to continue with the current Vice -Chair until the next meeting and defer the election until a full board is present. Moved by Trustee Fernandez Seconded by Trustee Torres Item discussed and moved on page 2. 7. Motion to adopt the GESE Budget. Moved by Trustee Fernandez Seconded by Vice -Chair Taylor Item discussed and moved on page 4. 8. Motion to adopt the Excess Budget. Moved by Trustee Simmons Seconded by Trustee Graves Item discussed and moved on page 4. 9. Motion to adopt the Cyber Security Report. Moved by Trustee Simmons Seconded by Trustee Graves Item discussed and moved on page 5. 10. Motion that Joe Simmons be the Chair. Moved by Trustee Lugo Seconded by Vice -Chair Taylor Item discussed and moved on page 5. 11. Motion that Mary Lugo be the Vice -Chair. Moved by Trustee Fernandez Seconded by Trustee Jimenez Item discussed and moved on page 6.