pages: PensionBoard/2015-04-27.pdf, 1
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PensionBoard | 2015-04-27 | 1 | 00 the The MINUTES OF THE REGULAR MEETING OF THE PENSION BOARD OF THE CITY OF ALAMEDA HELD 4:30 P.M., APRIL 27, 2015 ALAMEDA CITY HALL 2263 SANTA CLARA AVENUE, ALAMEDA CONFERENCE ROOM 391 1. The meeting was called to order by Chair Trish Herrera Spencer at 4:35 p.m. 2. ROLL CALL: Present: Trustees: Trish Herrera Spencer, William Soderlund, Nancy Elzig, and Jill Kovacs. Absent: Bruce Edwards Staff: Elena Adair, Finance Director; Brad Farmer, Acting Financial Services Manager, and Lelia Faapouli, Human Resources. 3. MINUTES: The minutes of the Regular Meeting of January 26, 2015 was moved for approval by Member Soderlund and seconded by Member Elzig. Passed 4-0. 4. AGENDA ITEMS: 4-A. Pension Payroll and Financial Reports - Quarter Ending March 31, 2015 and City of Alameda Police & Fire Pension Funds Financial Reports for the Period Ending March 31, 2015 were accepted as presented and moved for approval by Member Soderlund and seconded by Member Elzig. Passed 4-0. Finance Director Adair brought up a question from the auditors: Do we need to have a separate annual financial report for the Pension Funds? The Pension Ordinance does not say we need to have separately audited financial statements for 1079 and 1082 Pensioners. The Ordinance requires Finance to provide the Board with a report as we are doing now, but does not ask for a separate annual financial report. This raises the question, should we continue to have auditors issue a separate report for these particular Pension plans or can we stop these reports, which cost the City $10,000. Acting Financial Services Manager Farmer | PensionBoard/2015-04-27.pdf |