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 17, 2023 9:44 AM MEMBERS: LUIS FERNANDEZ (Late - Remotely) CLARENCE GRAVES (Physically Present) PORFIRIO JIMENEZ (Remotely) MARY LUGO (Physically Present) SEAN MOY (Late -Physically Present) ANN-MARIE SHARPE (Physically Present) JOE SIMVIONS, JR. (Physically Present) COREY TAYLOR (Physically Present) OLGA TORRES (Excused Absence) ALSO PARTICIPATING: EDGARD HERNANDEZ YVES LOUISSAINT ANNIE KONENGE NELSIA KING TODD GREEN VANESSA HERNANDEZ GEORLIAM RODRIGUEZ ALIBEL SANCHEZ EDWIN MIRANDA FELICIA ARCHIE CHRIS BARNETT PETER SCHWEDOCK WILLIE TIMMONS RON A. SILVER, ESQ. HILDA THOMPSON ENRIQUE RAMOS WALLY WILSON JOSE FERNANDEZ FORTUNA LEVY GIANNINA SANCHEZ MARLENE JANE WILLIAM JULIACH, ESQ. VALERIE GILBERT MARTHA GOMEZ, ESQ. RODRIGO JIMENEZ 1 Proposed GESE Plan budget for fiscal year October 1, 2023, to September 30, 2024 — Mr. Hernandez stated that under Salary and Wages there is approximately a 5% increase across the board. New personnel have been hired to replace those that have retired. Mr. Hernandez stated that an increasingly number of members are requesting more online access to their records. The system must be updated to allow for this. It may be something the Board should think about in the future, as the new staff needs to gain more experience before we could take on a project like this. The increase on this item is approximately $35,000. The second item is Retirements. This is Actuarially determined, and it is up about 10% from last year. The next item, Health/Dental/Vision Insurance, is lower as we had three retirements and we have been able to hire younger staff which created significant savings of about $55,000. It went from approximately $230,000 to $174,000. Chairman Simmons asked regarding the Pension Staff joining the city's insurance. Mr. Hernandez replied that there was a change in management at the city and although the new management is onboard with the change, we would have to go present it before the commission to see if they would approve. Chairman Simmons suggested that Mr. Silver work with the City's Attorneys to put together a resolution with this regard and present it to the City Commission. Some discussion took place. Mr. Hernandez continued with the explanation of the budget. Looking at Professional Services, we had a 4.8% increase. These include all the consultants, banks, Paychex, PBI's Death Audit, legal fees, medical advisors and auditors. The next line item is Office and Administrative, increased about $2,000 or 1.37%. This is mainly due to an increase in traveling and training. The next line item is Insurance. Insurance increased about 4.5%. This is mainly due to Weston, the building insurance provider going financially bankrupt. Now Citizens is the only insurance provider for the building. Mr. Hernandez mentioned that starting next year, Citizens does not want to insure us due to several reasons. One, the building being in a non -flood zone. The next, the building's roof, which they are requiring us to fix and provide a letter from a contractor. Another is that two side round windows on the building are not hurricane proof, although they are acceptable. They were requesting that they be replaced but agreed to overlook this. A lengthy discussion took place. Mr. Hernandez recommended bringing in the broker to the May meeting and asking what is needed to go self -insured. Mr. Hernandez continued with the budget. There was a decrease of almost 1% in Occupancy. The Total Administrative Costs is going up about $45,000 or roughly 1.5%. The total contribution from the city went from $55 million to $53 million. Some discussion took place. Mr. Silver suggested that the board allocated funds for the purchase of a defibrillator. Trustee Moy suggested speaking with the fire department. Mr. Hernandez stated that he would look into it. Mr. Hernandez asked for a motion to approve the proposed GESE Plan budget for fiscal year October 1, 2023, to September 30, 2024. Trustee Taylor moved to approve. Trustee Graves seconded the motion. The motion was unanimously approved. Trustee Torres was absent. No other discussion took place. This report concluded. Proposed Excess Plan budget for fiscal year October 1, 2023, to September 30, 2024 - Mr. Hernandez stated that the Excess Budget is a percentage of the GESE Budget. As per the Internal Revenue Service's rules, we are not allowed to pay fees incurred by the Excess Plan from the GESE Trust. The Total Administrative Costs increased by 1.61%. It went from approximately $106,000 to approximately $108,000. Mr. Hernandez stated that this was an allocation budget. Trustee Sharpe moved to adopt the proposed Excess Plan budget for fiscal year October 1, 2023, to September 30, 2024. Trustee Graves seconded the motion. The motion was unanimously approved. Trustee Torres was absent. No other discussion took place. This report concluded. Update regarding the Rose Gordon Building's roof - Mr. Hernandez reminded the Board that at the last meeting, the Board requested that he bring back five quotes to repair/repaint or replace the roof. Five companies submitted their quotes. These were SR Springer Roofing, Swift Roofing, D.N.D. Roofing, RC General Roofing and Molina's Roofing. Mr. Hernandez stated that the owner of SR Springer Roofing advised not to re -paint the roof due to the air bubbles in the floor that contains humidity beneath the layers. He recommended doing a new roof. All the companies would be doing the three items, which are to put the TPO, installation of tapered insulation system and the engineering roof drawing. The owner of Swift Roofing advised that painting the roof was not a good idea because the paint would not adhere properly, resulting in additional air bubbles. They recommended doing a new roof. They would put the TPO, installation of tapered insulation system with EnergyGuard layer to be applied under the TPO and the engineering roof drawing. D.N.D Roofing did provide a re -painting estimate; however, it was not recommended due to the existing bubbles in the layers beneath that are holding humidity. The silicon may or may not adhere properly to the existing paint. New drains, goosenecks, pitch pans, sculpture overflows and waking paths would be included. RC General Roofing also said they could do a re -painting job but do not recommend it. Molina Roofing advised against re -painting, given the existence of air bubbles in the floor that 8