2021 Meeting Minutes and Financial Reports

Alabama Firefighters’ Annuity and Benefit Fund

Meeting Minutes

Alabama Fire College 10:30 am

04/21/2021

Members Present:

Chairman Reid Vaughan

Dale Wyatt

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 10/21/2020 were presented by Secretary Catherine Burnett

Motion made by Mr. Dale Wyatt to accept minutes

Second made by Mr. Chris Mullins

Reid Vaughan – yes

Dale Wyatt – yes

Billy Doss – yes

Chris Mullins - yes

Richard Pugh- yes

Motion passed unanimously

Financial Report for January 1, 2021 through March 31, 2021 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

Chris Mullins - yes

Richard Pugh- yes

Motion passed unanimously

Audit Committee Report for January 1, 2021 thru March 31, 2020 presented by Billy Doss

Motion to accept Audit Committee findings of no irregularities

Reid Vaughan – yes

Dale Wyatt – yes

Billy Doss – yes

Chris Mullins - yes

Richard Pugh- yes

Old Business

Dogwood Design will update AFABF brochure AFC Bookstore will print all within budget. Once we get the brochure situated, we will proceed with getting Service Purchase Calculator done by July meeting so we will have updated information. Actuarial report will be available by next meeting so we will have updated the purchase factor, calculator, and benefit.

Mr Dale Wyatt shared Fireworks bill will pass {permits + fees from any manufacturer or retailer of fireworks}.

New Business

Transfer $75,000 to RSA

Motion made to transfer $75,000 to RSA for investment by Dale Wyatt.

Second by Chris Mullins

Reid Vaughan – yes

Dale Wyatt – yes

Billy Doss – yes

Chris Mullins - yes

Richard Pugh- yes

Motion passed unanimously

As we get more dedicated revenue coming in, hiring an Executive Director to help us to spread the word about fund, will be important.

Forms on website, grammar issues on our website will be updated, will need proof-reading. Updated picture will be taken at the July board meeting.

The next AFABF meeting will be held on July 21, 2021. Internal Audit Committee will meet July 21, 2021. Meetings will begin as soon as the Commissioners meeting concludes.

Adjourn

Motion made to adjourn by Mr. Dale Wyatt

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

10/20/2021

Members Present:

Commissioner Reid Vaughan, Chairman

Commissioner Dale Wyatt

Commissioner Billy Doss

Commissioner Chris Mullins

Commissioner 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 7/21/2021 were presented by Secretary Catherine Burnett

Motion made by Commissioner Dale Wyatt to accept minutes as presented.

Second made by Commissioner Chris Mullins

Commissioner Reid Vaughan – yes

Commissioner Dale Wyatt – yes

Commissioner Billy Doss – yes

Commissioner Chris Mullins - yes

Commissioner Richard Pugh - yes

Motion passed unanimously

Financial Report for July 1, 2021 through Sept 30, 2021 presented by Secretary Catherine Burnett

Motion to accept Financial Report made by Commissioner Billy Doss as presented.

Second made by Commissioner Dale Wyatt

Commissioner Reid Vaughan – yes

Commissioner Dale Wyatt – yes

Commissioner Billy Doss – yes

Commissioner Chris Mullins – yes

Commissioner Richard Pugh - yes

Motion passed unanimously

Audit Committee Report for July 1, 2021 through Sept 30, 2021 presented by Commissioner Billy Doss

Motion to accept Audit Committee findings of no irregularities

Commissioner Reid Vaughan – yes

Commissioner Dale Wyatt – yes

Commissioner Billy Doss – yes

Commissioner Chris Mullins – yes

Commissioner Richard Pugh - yes

Old Business

According to AFABF attorney, Mark Boardman, we are not required to send contracts through the governor’s office to make changes to AFABF documents. Mr. Boardman will submit a letter stating that on our behalf to the Public Examiner’s office.

The auditors from the Public Examiner’s office have attempted to come 2-3 times unsuccessfully. They will reschedule as soon as possible.

RSA Investment report was presented. Fund has received $1,234.62 in income through interest.

New Business

Cavanaugh McDonald report was presented. They are very impressed with our financial picture and sound benefits. Being conservative with this review, knowing another one will follow soon after, it was recommended to increase the retirement benefit to $100.

We accept the report as presented by Cavanaugh Macdonald and their recommendation of $100 benefit.

Commissioner Reid Vaughan - yes

Commissioner Dale Wyatt - yes

Commissioner Billy Doss - yes

Commissioner Chris Mullins – yes

Commissioner Richard Pugh - yes

Discussion began regarding updating legislative code and the language within. It was agreed upon that it would be best to table to discussion at this time and revisit next meeting.

Motion made to table discussion on updating the legislation by Commissioner Dale Wyatt.

Second by Commissioner Chris Mullins.

Commissioner Reid Vaughan – yes

Commissioner Dale Wyatt – yes

Commissioner Billy Doss – yes

Commissioner Chris Mullins – yes

Commissioner Richard Pugh - yes

Motion passed unanimously

The next AFABF meeting will be held on January 19, 2022. Internal Audit Committee will meet

January 19, 2022. Meetings will begin as soon as the Commissioners meeting concludes.

Adjourn

Motion made to adjourn by Commissioner Dale Wyatt

Second by Commissioner Chris Mullins

Motion passed unanimously

___________________________________________________

Commissioner Reid Vaughan, Chairman Date

____________________________________________________

Secretary Date

Alabama Firefighters’ Annuity and Benefit Fund

Meeting Minutes

Alabama Fire College 10:30 am

10/20/2021

Members Present:

Commissioner Reid Vaughan, Chairman

Commissioner Dale Wyatt

Commissioner Billy Doss

Commissioner Chris Mullins

Commissioner 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 7/21/2021 were presented by Secretary Catherine Burnett

Motion made by Commissioner Dale Wyatt to accept minutes as presented.

Second made by Commissioner Chris Mullins

Commissioner Reid Vaughan – yes

Commissioner Dale Wyatt – yes

Commissioner Billy Doss – yes

Commissioner Chris Mullins - yes

Commissioner Richard Pugh - yes

Motion passed unanimously

Financial Report for July 1, 2021 through Sept 30, 2021 presented by Secretary Catherine Burnett

Motion to accept Financial Report made by Commissioner Billy Doss as presented.

Second made by Commissioner Dale Wyatt

Commissioner Reid Vaughan – yes

Commissioner Dale Wyatt – yes

Commissioner Billy Doss – yes

Commissioner Chris Mullins – yes

Commissioner Richard Pugh - yes

Motion passed unanimously

Audit Committee Report for July 1, 2021 through Sept 30, 2021 presented by Commissioner Billy Doss

Motion to accept Audit Committee findings of no irregularities

Commissioner Reid Vaughan – yes

Commissioner Dale Wyatt – yes

Commissioner Billy Doss – yes

Commissioner Chris Mullins – yes

Commissioner Richard Pugh - yes

Old Business

According to AFABF attorney, Mark Boardman, we are not required to send contracts through the governor’s office to make changes to AFABF documents. Mr. Boardman will submit a letter stating that on our behalf to the Public Examiner’s office.

The auditors from the Public Examiner’s office have attempted to come 2-3 times unsuccessfully. They will reschedule as soon as possible.

RSA Investment report was presented. Fund has received $1,234.62 in income through interest.

New Business

Cavanaugh McDonald report was presented. They are very impressed with our financial picture and sound benefits. Being conservative with this review, knowing another one will follow soon after, it was recommended to increase the retirement benefit to $100.

We accept the report as presented by Cavanaugh Macdonald and their recommendation of new rate of $100 benefit effective January 1, 2022

Commissioner Reid Vaughan - yes

Commissioner Dale Wyatt - yes

Commissioner Billy Doss - yes

Commissioner Chris Mullins – yes

Commissioner Richard Pugh - yes

Discussion began regarding updating legislative code and the language within. It was agreed upon that it would be best to table to discussion at this time and revisit next meeting.

Motion made to table discussion on updating the legislation by Commissioner Dale Wyatt.

Second by Commissioner Chris Mullins.

Commissioner Reid Vaughan – yes

Commissioner Dale Wyatt – yes

Commissioner Billy Doss – yes

Commissioner Chris Mullins – yes

Commissioner Richard Pugh - yes

Motion passed unanimously

The next AFABF meeting will be held on January 19, 2022. Internal Audit Committee will meet

January 19, 2022. Meetings will begin as soon as the Commissioners meeting concludes.

Adjourn

Motion made to adjourn by Commissioner Dale Wyatt

Second by Commissioner Chris Mullins

Motion passed unanimously

___________________________________________________

Commissioner Reid Vaughan, Chairman Date

____________________________________________________

Secretary Date