2020 Meeting Minutes and Financial Reports

Alabama Firefighters’ Annuity and Benefit Fund

Meeting Minutes

Alabama Fire College 10:30 am

1/15/2020

Members Present:

Chairman Reid Vaughan

Dale Wyatt

Billy Doss

*A Quorum was present at this meeting to conduct business.

Secretary’s Report, Approval of previous Meeting Minutes and Financial Report

Meeting minutes from 10/22/2019 were presented by Secretary Catherine Burnett

Motion made by Mr. Billy Doss to accept minutes

Second made by Mr. Dale Wyatt

Reid Vaughan – yes

Billy Doss – yes

Dale Wyatt - yes

Motion passed unanimously

Financial Report for October 1, 2019 through December 31, 2019 presented by Secretary Catherine Burnett

Motion to accept Financial Report made by Mr. Dale Wyatt

Second made by Mr. Billy Doss

Reid Vaughan – yes

Dale Wyatt – yes

Billy Doss – yes

Motion passed unanimously

Old Business

Cav Mac and Mr. Reid Vaughan are in communication regarding next visit. Flexibility is needed in scheduling this visit to accommodate both parties and communication is active to secure a date. It is expected Cav Mac will visit before next board meeting. $10-15k is expected for fees.

Mr. Dale Wyatt previously secured the payroll slot for Birmingham members. He will be working diligently in the next several months to secure members to join AFABF

New Business

Due to reduced cost from the contract for clerical services moving to an hourly fee, there is more money to move to investments. Reid would like to move $50k from our bank to RSA. Mr. Dale Wyatt suggested, due to potential market volatility, to move in multiple stages instead of all at once. It was agreed upon that breaking the transfer into two $25k transfers would satisfy the desire to keep an eye on the market.

Motion made to move money to RSA made by Mr. Reid Vaughan

Second by Mr. Billy Doss

Motion passed unanimously

The next AFABF meeting will be held on April 15, 2020. Internal Audit Committee will meet April 15, 2020. Meetings will begin as soon as the Commissioners meeting concludes.

Adjourn

Motion made to adjourn by Mr. Dale Wyatt

Second by Mr. Billy Doss

Motion passed unanimously

___________________________________________________

Reid Vaughan, Chairman Date

____________________________________________________

Secretary Date

Alabama Firefighters’ Annuity and Benefit Fund

Meeting Minutes

Alabama Fire College 10:30 am

7/15/2020

Members Present:

Chairman Reid Vaughan

Billy Doss

Chris Mullins

Richard Pugh

*A Quorum was present at this meeting to conduct business.

Secretary’s Report, Approval of previous Meeting Minutes and Financial Report

Meeting minutes from 1/15/2020 were presented by Secretary Catherine Burnett

Motion made by Mr. Billy Doss to accept minutes

Second made by Mr. Richard Pugh

Reid Vaughan – yes

Billy Doss – yes

Chris Mullins- yes

Richard Pugh- yes

Motion passed unanimously

Financial Report for January 1, 2020 through June 30, 2020 presented by Secretary Catherine Burnett

Motion to accept Financial Report made by Mr. Chris Mullins

Second made by Mr. Billy Doss

Reid Vaughan – yes

Billy Doss – yes

Chris Mullins- yes

Richard Pugh- yes

Motion passed unanimously

Old Business

Mr Reid Vaughan has communicated with Cav Mac Consulting regarding contract. Compensation to them is $7,500 for services, goods and materials. There may be an additional amount for the calculator they will provide us up to an additional $5,000. Last time they charged us $2,100. We expect to pay between $10,000-$12,500 total.

Motion made to approve the amount discussed to Cavanaugh Macdonald Consulting by Reid Vaughan

Second by Billy Doss

Motion passed unanimously

New Business

Richard Pugh, chair of audit committee, stated that there were no issues or findings.

Autauga County received a recruitment and retention grant in 2019. Due to various issues, how the county would use the money would be used. Additionally, Covid19 slowed down the use of the funds. They would like to use the funds to pay for the membership of the approved members. They have requested that they pay for the membership retroactively beginning October 2019. Then they would pay again in October 2020 and in October 2021. It was decided that this is a reasonable exception and we would proceed with this.

The next AFABF meeting will be held on October 14, 2020. Internal Audit Committee will meet October 14, 2020. Meetings will begin as soon as the Commissioners meeting concludes.

Adjourn

Motion made to adjourn by Mr. Chris Mullins

Second by Mr. Richard Pugh

Motion passed unanimously

___________________________________________________

Reid Vaughan, Chairman Date

____________________________________________________

Secretary Date

Alabama Firefighters’ Annuity and Benefit Fund

Meeting Minutes

Alabama Fire College 10:30 am

10/21/2020

Members Present:

Chairman Reid Vaughan

Dale Wyatt

Billy Doss

Richard Pugh

*A Quorum was present at this meeting to conduct business.

Secretary’s Report, Approval of previous Meeting Minutes and Financial Report

Meeting minutes from 7/15/2020 were presented by Secretary Catherine Burnett

Motion made by Mr. Billy Doss to accept minutes

Second made by Mr. Richard Pugh

Reid Vaughan – yes

Dale Wyatt – yes

Billy Doss – yes

Richard Pugh- yes

Motion passed unanimously

Financial Report for July 1, 2020 through September 30, 2020 presented by Secretary Catherine Burnett

Motion to accept Financial Report made by Mr. Dale Wyatt

Second made by Mr. Richard Pugh

Reid Vaughan – yes

Dale Wyatt – yes

Billy Doss – yes

Richard Pugh- yes

Motion passed unanimously

Audit Committee Report for July 1, 2020 thru September 30, 2020 presented by Billy Doss

Motion to accept Audit Committee findings of no irregularities

Reid Vaughan – yes

Dale Wyatt – yes

Billy Doss – yes

Richard Pugh- yes

Old Business

We should be expecting a check for previous year and the year ahead from Autauga county as they complete documentation. A desire to have an event sharing about our fund with this county has been sidelined due to Covid. We will plan to inform them regarding the buyback period via letter, if not letter and personal visit from our committee.

New Business

New social media friendly marketing brochures are needed.

Motion made to approve $1500 for purchase of brochures by Dale Wyatt.

Second by Billy Doss

Reid Vaughan – yes

Dale Wyatt – yes

Billy Doss – yes

Richard Pugh- yes

Motion passed unanimously

Service Purchase Calculator is needed for distribution with brochures. Potentially Mr. Reid Vaughan will investigate how to add to our website securely, as well.

The next AFABF meeting will be held on January 20, 2020. Internal Audit Committee will meet January 20, 2020. Meetings will begin as soon as the Commissioners meeting concludes.

Adjourn

Motion made to adjourn by Mr. Richard Pugh

Second by Mr. Billy Doss

Motion passed unanimously

___________________________________________________

Reid Vaughan, Chairman Date

____________________________________________________

Secretary Date