2022 Meeting Minutes and Financial Reports

Alabama Firefighters’ Annuity and Benefit Fund

Meeting Minutes

Alabama Fire College 10:30 am

01/19/2022

Members Present:

Commissioner Reid Vaughan, Chairman

Commissioner Billy Doss

Commissioner Richard Pugh

Due to Covid and travel restrictions Commissioner Dale Wyatt, Commissioner Chris Mullins and Secretary Catherine Burnett were not present at this meeting.

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

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

Meeting minutes from 10/20/2021 were presented by Commissioner Reid Vaughan

Motion made by Commissioner Billy Doss to accept minutes as presented.

Second made by Commissioner Richard Pugh.

Motion passed unanimously

Financial Report for Oct 1, 2021 through Dec 31, 2021 presented by Commissioner Reid Vaughan

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

Second made by Commissioner Richard Pugh.

Motion passed unanimously

Audit Committee Report for Oct 1, 2021 through Dec 31, 2021 presented by Commissioner Billy Doss

Motion to accept Audit Committee findings of no irregularities.

Motion passed unanimously

Old Business

We are now operating under the new Cavanaugh McDonald study. We have made our first payment to the retiree. We are beginning to get requests for buy backs under the new rate. Autauga County has submitted paperwork for more new members. Sumpter County will be submitting new member paperwork soon, as well, adding approximately 75-80 new members to the fund.

The legislation passed that Scott Ninesling worked on, on our behalf, to increase the fees for the fire marshal’s office and they gave us 5% off those fees as annual income to be paid in the spring and the fall.

New Business

We have $81,105 in our general bank account. Commissioner Reid Vaughan requests our Commission to transfer $50,000. to RSA before the next meeting.

Motion made to move $50,000 from general account to RSA by Commissioner Billy Doss.

Second by Commissioner Richard Pugh.

Motion passed unanimously

Due to a change in the meeting schedule of the Alabama Personnel Standards Commission it is necessary to move our meeting to accommodate those Commissioners that are members of both bodies.

Motion made to move meeting to April 13, 2022 by Commissioner Richard Pugh.

Second by Commissioner Billy Doss.

Motion passed unanimously

The next AFABF meeting will be held on April 13, 2022. Internal Audit Committee will meet

April 13, 2022. Meetings will begin as soon as the Commissioners meeting concludes.

Adjourn

Motion made to adjourn by Commissioner Billy Doss

Second by Commissioner Richard Pugh

Motion passed unanimously

___________________________________________________

Commissioner Reid Vaughan, Chairman Date

____________________________________________________

Secretary Date

Alabama Firefighters’ Annuity and Benefit Fund

Meeting Minutes

Alabama Fire College 10:30 am

04/27/2022

Members Present:

Commissioner Reid Vaughan, Chairman

Commissioner Dale Wyatt

Commissioner Richard Pugh

Commissioner Billy Doss was present but attending groundbreaking ceremony on campus. Commissioner Chris Mullins absent due to vacation.

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

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

Meeting minutes from 01/19/2022 were presented by Commissioner Reid Vaughan

Motion made by Commissioner Richard Pugh to accept minutes as presented.

Second made by Commissioner Dale Wyatt.

Motion passed unanimously

Financial Report for Jan 1, 2022 through Mar 31, 2022 presented by Commissioner Reid Vaughan

Motion to accept Financial Report made by Commissioner Dale Wyatt as presented.

Second made by Commissioner Richard Pugh.

Motion passed unanimously

Audit Committee Report for Jan 1, 2022 through Mar 31, 2022 presented by Commissioner Richard Pugh

Motion to accept Audit Committee findings of no irregularities.

Motion passed unanimously

Old Business

Secretary, Catherine Burnett, now has updated version of Quick Books on her computer. Quick Books now backs up to cloud server and is locally backed up regularly.

New Business

We have $68,053.81 in our general bank account. Commissioner Reid Vaughan requests our Commission to transfer $25,000. to RSA before the next meeting.

Motion made to move $25,000 from general account to RSA by Commissioner Dale Wyatt.

Second by Commissioner Richard Pugh.

Motion passed unanimously

Commissioner Reid Vaughn is working on an Excel spreadsheet to create individual invoices for all members who are joining through federally funded grants. A letter is not sufficient. There will need to be a line item for each individual and we will bill for each individual member.

Fund member Ann Barber passed away Feb 19, 2022. The $5,000 death benefit will be paid to her beneficiary.

Motion made to pay out death benefit for member Ann Barber by Commissioner Dale Wyatt.

Second by Commissioner Richard Pugh.

Motion passed unanimously

The next AFABF meeting will be held on July 20, 2022. Internal Audit Committee will meet

July 20, 2022. Meetings will begin as soon as the Commissioners meeting concludes.

Adjourn

Motion made to adjourn by Commissioner Dale Wyatt

Second by Commissioner Richard Pugh

Motion passed unanimously

___________________________________________________

Commissioner Reid Vaughan, Chairman Date

____________________________________________________

Secretary Date

Alabama Firefighters’ Annuity and Benefit Fund

Meeting Minutes

Alabama Fire College 10:30 am

07/20/2022

Members Present:

Commissioner Reid Vaughan, Chairman

Commissioner Richard Pugh

Commissioner Billy Doss

Commissioner Chris Mullins

Commissioner Wyatt was absent

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

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

Meeting minutes from 04/27/2022 were presented by Commissioner Reid Vaughan

Motion made by Commissioner Chris Mullins to accept minutes as presented.

Second made by Commissioner Richard Pugh.

Motion passed unanimously

Financial Report for Apr 1, 2022 through June 30, 2022 presented by Commissioner Reid Vaughan

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

Second made by Commissioner Chris Mullins.

Motion passed unanimously

Audit Committee Report for Apr 1, 2022 through June 30, 2022 presented by Commissioner Billy Doss

Motion to accept Audit Committee findings of no irregularities.

Motion passed unanimously

Old Business

After October 1st, start conversation with Cav Mac asking them to do a short cycle study measuring the known funding we will have to determine if our benefit can increase.

Motion made to allow the Chair to sign a contract with Cavanaugh Macdonald, our actuary, for a short cycle study for up to $12, 500 by Richard Pugh.

Second by Commissioner Mullins.

In revisiting if we should move another $25,000 to RSA at this time, with our balance considered, we will re-evaluate moving more money at our October board meeting.

New Business

Discussed increasing hourly rate retroactive to July 1, 2022 for Secretary, Catherine Burnett, from $15 per hour to $20 per hour with plans to revisit/review to graduate pay up to $25. Also discussed Mike Burnett, her husband, assisting with advertising of the fund, increasing visibility, when we assess where the fund stands in the fall.

Motion made to increase Secretary Catherine Burnett’s hourly pay to $20 by Commissioner Billy Doss.

Second by Commissioner Richard Pugh.

Motion passed unanimously

Commissioners request brochures to share charts of growth of the fund and benefits once we have new figures post-actuarial study.

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

Jan 18, 2022. Meetings will begin as soon as the Commissioners meeting concludes.

Adjourn

Motion made to adjourn by Commissioner Billy Doss

Second by Commissioner Richard Pugh

Motion passed unanimously

___________________________________________________

Commissioner Reid Vaughan, Chairman Date

____________________________________________________

Secretary Date

Alabama Firefighters’ Annuity and Benefit Fund

Meeting Minutes

Alabama Fire College 10:30 am

7/20/22

Members Present:

Commissioner Reid Vaughan, Chairman

Commissioner Richard Pugh

Commissioner Billy Doss

Commissioner Chris Mullins

Commissioner Wyatt

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

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

Meeting minutes from 04/20/2022 were presented by Commissioner Reid Vaughan

Motion made by Commissioner Chris Mullins to accept minutes as presented.

Second made by Commissioner Richard Pugh.

Motion passed unanimously

Financial Report for Apr 1, 2022 through June 30, 2022 presented by Commissioner Reid Vaughan

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

Second made by Commissioner Chris Mullins.

Motion passed unanimously

Audit Committee Report for Apr 1, 2022 through June 30, 2022 presented by Commissioner Billy Doss

Motion to accept Audit Committee findings of no irregularities.

Motion passed unanimously

Old Business

After October 1st, start conversation with Cav Mac asking them to do a short cycle study measuring the known funding we will have to determine if our benefit can increase.

Motion made to allow the Chair to sign a contract with Cavanaugh Macdonald, our actuary, for a short cycle study for up to $12, 500 by Richard Pugh.

Second by Commissioner Mullins.

In revisiting if we should move another $25,000 to RSA at this time, with our balance considered, we will re-evaluate moving more money at our October board meeting.

New Business

Discussed increasing hourly rate retroactive to July 1, 2022 for Secretary, Catherine Burnett, from $15 per hour to $20 per hour with plans to revisit/review to graduate pay up to $25. Also discussed Mike Burnett, her husband, assisting with advertising of the fund, increasing visibility, when we assess where the fund stands in the fall.

Motion made to increase Secretary Catherine Burnett’s hourly pay to $20 by Commissioner Billy Doss.

Second by Commissioner Richard Pugh.

Motion passed unanimously

Commissioners request brochures to share charts of growth of the fund and benefits once we have new figures post-actuarial study.

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

Jan 18, 2022. Meetings will begin as soon as the Commissioners meeting concludes.

Adjourn

Motion made to adjourn by Commissioner Billy Doss

Second by Commissioner Richard Pugh

Motion passed unanimously

___________________________________________________

Commissioner Reid Vaughan, Chairman Date

____________________________________________________

Secretary Date