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From YouTube: Pension Board Meeting (2/8/2022)
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A
Okay,
oath
of
office,
firefighters
board,
ed
dawson,.
A
A
No
visitors
today
approval
of
the
minutes
that
we
do
that
by
board.
Just
voice
vote,
give
your
first
and
second
and
everyone
can
say
aye,
cardboard
or
all
together:
okay,.
A
The
new
business
police
officers
board
application
for
retirement
motion
to
approve
charles
mark
evans,
police
officer
backdrop,
retirement
effective
july
1st
2019
separation
date
may
13
2022
meets
service
requirements
for
backdrop
32
years
11
months
of
service
second,
but
we
need
a
motion
police
board
motion.
Second,.
A
David
cohen,
yes,
margaret
dupree,
yes,
john
vasquilla,
jason,
sharp,
yes,
okay,
men
approve
bradley
before
police
officer
retirement,
effective
june
1,
2022
separation
date
may
31st.
2022
meets
age
service
requirements
for
duty
duty,
service
retirement,
10
years
no
months
of
service
and
over
age
55.,
so
moved.
A
B
Tell
us
what
happened
in
the
market
good
afternoon,
everybody
we've
got
a
little
bit
of
a
roller
coaster
to
talk
about,
but
I'll
start
with
kind
of
the
main
part
of
the
report.
If
you
had
a
chance
to
look,
as
you
might
recall,
first
quarter
of
every
year,
we
always
include
a
letter
from
our
ceo
and
broker.
B
I'm
not
going
to
read
the
letter
to
you,
but
I
just
want
to
touch
on
a
few
of
the
highlights
that
are
contained
in
there.
First
and
foremost
is
a
thank
you
for
the
opportunity
to
serve
you.
It
isn't
for
clients
like
you,
we
don't
have
a
firm
just
want
to
make
sure
you
understand
how
much
we
appreciate
the
opportunity
to
serve.
B
B
As
you
may
recall,
a
firm
is
committed
to
reinvest
100
of
the
profits
back
into
the
business
and
so
kind
of
to
that
end.
This
year
the
expectation
is
the
vast
majority
of
that
reinvestment
will
be
in
two
areas
really,
which
has
been
the
same
for
the
last
couple
years.
It's
I.t,
as
well
as
as
personnel
as
we
continue
to
build
out
the
research
area.
B
As
you
may
recall,
we
are
100
employee-owned,
but
we're
in
a
in
a
program
where
that
ownership
is
being
distributed
to
a
greater
number
of
the
employees
of
the
firm,
and
so
this
year
we
added
two
to
the
partnership.
Brian,
green
and
carrie
richardville
were
added,
and
so
that
brings
the
total
authentic
13.
It
is
now
which
is
highlighted
here
in
the
letter,
so
again
just
wanted
to
make
sure
you
are
you're
aware
of
that
change.
The
organization,
as
well
as
some
of
those
other
bits
contained
in
the
weather.
B
B
So
all
87
people
are
listed
here
again,
I'm
not
going
to
go
through
this,
but
again
just
just
wanted
to
try
to
you
know
give
you
a
little
bit
of
understanding
that
the
depth
of
the
team
behind
us,
because
there
are
a
lot
of
folks
that
you
know
whether
it's
in
this
statement,
processing
and
report
generation
or
research
ideas
covering
the
different
strategies.
There
are
obviously
a
lot
of
members
of
the
firm
working
on
your
behalf.
B
Any
questions
on
anything
that
I've
covered
so
far,
all
right
so
now
I'll
jump
into
the
actual
normal
part
of
the
report.
So
again,
this
period
that
we're
looking
at
it
covers
the
end
of
the
year
and
it
has
been
a
little
bit
of
a
back
and
forth
market.
So
what
we're
looking
at
here?
The
market
was
incredibly
strong.
The
green
excuse
me,
the
blue
bar
over
the
top.
The
s
p
500
was
up
11
just
in
the
court.
B
A
B
B
So
if
you
look
at
the
top
part
of
the
page
for
the
quarter,
you
can
see
the
us
treasuries
broke
about
20
basis
points
or
0.2
percent,
but
high
yield
was
up
0.7,
so
the
lower
quality
part
of
fixed
income.
Now
we
don't
invest
in
high
deal,
but
again,
just
just
to
give
you
some
perspective
as
to
the
parts
of
the
market
that
we're
doing
better
than
others.
And
then,
if
you
drop
down
to
the
lower
part
of
the
page
in
the
bottom
right
hand
corner,
you
can
see
over
the
last
12
months.
B
12
months
that
was
really
pronounced,
treasuries
were
down
2.3
mortgages
and
investment
grade.
Corporates
were
down
about
1
high
yield
was
up
5
tips
which
are
treasury
inflation
protected
securities
up
about
six
percent,
certainly
with
some
of
the
discussion
about
inflation,
we
saw
those
pop,
but
again
just
kind
of
wanted
to
give
you
a
little
bit
more
of
a
drill
down
into
the
the
fact
that
lower
quality
tended
to
do
significantly
better
within
the
year
over
the
course
of
the
market.
B
B
You
know,
first,
it
was
three
percent
and
it
was
four
percent
six
percent,
but
in
the
middle
part
of
the
year,
even
toward
the
latter
part,
you
can
see
that
green
gray
and
blue
lines,
really
interest
rates,
didn't
move
a
lot,
even
though
we
were
seeing
those
inflationary
numbers.
A
lot
of
the
expectations
were
that
I
was
going
to
be
short-lived
and
it
was
going
to
kind
of
immediately
go
back
the
other
way.
B
Interestingly,
on
the
longer
end
of
the
curve
rates
actually
came
down.
Just
a
little
bit,
they
didn't
rise
along
with
the
rest
of
the
market.
So
I
think
what
you're
seeing
here
is
the
bond
market's
starting
to
realize
that
not
only
is
the
fed
going
to
raise,
but
they're
going
to
start
raising
faster
than
we
had
thought
previously
and
just
as
of
three
four
months
ago,
consensus
was
that
the
fed
would
raise
three
times
over
the
course
of
2022..
A
B
We're
seeing
with
inflation
and
everything
else-
and
so
you
know
again-
I
describe
the
yield
curve-
is
sort
of
the
way
the
bond
market
feels
about
the
future
and
if
you
have
a
positively
sloped
line,
so
the
very
left-hand
side
is
today-
and
this
is
30
years
from
now.
So
obviously
it's
an
upward
sloping
line,
meaning
we're
expecting
growth
and
better
things
in
the
future,
but
it's
not
as
positively
sloped,
it's
a
little
flatter
than
it
was
before.
B
So
you
know,
I
would
characterize
that
as
the
bond
markets
angle,
now
that
the
fed's
going
to
really
start
raising
rates
and
doing
it
quicker,
they're
going
to
slow
down
the
economy
and
therefore
we're
a
little
less
excited
about
the
future.
Now
we're
still
forecasting
growth,
we're
not
saying
at
this
point
that
they're
going
to
completely
derail
the
economy,
but
that
that
excess
or
that
growth
needs
to
be
scaled
back
a
little
bit
so
again,
just
kind
of
wanted
to
give
you
a
little
bit
of
that
perspective.
C
B
Well,
that's
the
real
question:
if
they,
if
they
go
quarter
points,
you
know,
you're
really
only
talking
about
one
and
three
quarter,
we're
starting
essentially
at
zero.
So
if
you
think
over
a
30
year
or
40
year
window,
if
they
raise
seven
times-
and
you
finish
the
year
at
one
and
three
quarters
or
two
percent
that
still
is
a
very
low
historical
interest
rate
so
that
by
itself
I
don't
think
is
really
a
huge
concern.
B
A
I
think
I've
heard
in
a
press
release
that
they're
expected
to
raise
the
rate
between
a
quarter
and
a
half
percent
in
march,
and
then
the
next
one
would
be
in
june,
supposedly.
A
A
B
B
Right
so
if
they
move
two
or
three
times
through
the
summer
and
inflation
is
accelerating
well,
they're
gonna
have
to
modify
that
schedule.
If
all
of
a
sudden
they
see
prices
really
come
off
and
instead
of
you
know,
fives
and
sixes
and
sevens
we're
seeing
twos
and
threes,
then
they
might
back
off
that
schedule.
B
B
The
next
page
again
just
tracks
the
assets
of
the
plan
relative
to
the
red
line,
which
is
the
assumed
rate
of
return,
and
obviously
you
can
see
a
very
nice
access.
I
actually
realized
that
this
graph
doesn't
actually
completely
scale
out
to
the
most
recent
quarter
because
we're
at
123
million
dollars.
B
Next
couple
of
pages
slice
and
dice
the
asset
allocation,
I
wanted
to
touch
on
page
number,
eight,
because
that
really
focuses
on
the
deviation
from
our
targets
and
what
you'll
notice.
As
of
the
end
of
the
year,
we
were
slightly
above
that
65
percent
equity
threshold
with
the
4.6
over
in
domestic
equity
of
1
international.
B
B
The
benchmark,
though,
is
in
the
16th
percentile,
so
ranking
pretty
highly
within
that
peer
group
for
the
last
12
months,
12
and
a
half
percent
versus
13.4
and
placing
in
the
63rd
percentile
over
the
longer
periods,
three,
five
and
seven
years
you
can
see
you
know
or
nicely
ahead
of
the
benchmark,
at
least
for
the
three
and
five
and
ranking
in
the
top
15
or
17
in
the
peer
group,
so
again
relative
to
public
funds
around
the
country.
The
plan
is
still
doing
incredibly
well
over
a
long
period
of
time.
B
B
One
of
the
things
that
we
saw
within
the
quarter-
it's
actually
interesting
one
of
the
graphs
that
I
often
include
in
sort
of
the
summary
presentation.
I
didn't
include
this
or
this
time,
but
it
looks
at
growth
and
value
in
the
different
parts
of
the
market.
So
growth
was
the
better
performer
in
large
cap.
This
quarter
earning
over
about
11,
but
in
mid
cap
it
underperformed
value
by
six
percent
at
2.8
and
in
the
small
cap
it
was
at
zero
underperforming
value
by
about
4.4
percent.
B
B
This
was
somewhat
of
a
common
theme
within
the
quarter
and
and
also
kind
of
to
that
end,
you
can
see
that
11.6
for
the
benchmark
was
in
the
24th
percentile
so
again
well
in
the
upper
half.
So
so
all
that
to
say
you
know,
we
don't
see
a
an
immediate
problem
with
with
wells
portfolio.
B
B
Okay,
so
kind
of
moving
on
really
the
rest
of
the
report
on
balance
is
is
really
excellent.
Jp
morgan,
your
value
manager
beats
the
benchmark
by
about
one
percent
and
is
outperforming
for
the
year
eaton
vance
atlanta
capital.
As
you
recall,
they've,
been
struggling
for
the
last
few
quarters.
They
had
a
wonderful
quarter,
they
were
up
9.75
versus
3.8
and
now
for
the
last
year,
22.3
versus
18..
But
if
you
looked
at
that
number
just
last
quarter,
they
were
well
behind
the
benchmark
on
the
trailing
12
months.
B
B
Was
down
1.1
versus
the
benchmark
of
188
and
now
for
the
year
they're,
behind
2-8
versus
8.2,
but
again
longer
term
has
been
a
fantastic
manager.
Well
ahead
of
the
benchmark
again,
some
of
their
emerging
market
exposure
certainly
impacted
the
results
in
the
quarter
and
then
wcm
had
a
very
good
quarter
up,
5.6
versus
about
1.8
and
well
ahead
for
the
year
17
versus
by
8.3
sawgrass,
fixed
income.
B
B
C
A
You
see,
we
all
know.
Greg
was
recent,
but
there's
been
several
others.
Small
graphs
and
you
see
over
the
last
year
is
where
the
issues
start.
Last
year's
when
those
movements
started
happening
last
january,
is
there
any
correlation
of
that
or
somebody
to
truly
look
out
for.
B
Not
at
this
point
really
what
you,
what
you've
seen
in
terms
of
departures,
is
primarily
folks
in
the
sales
side
or
the
client
service
side
and
oftentimes.
They
get
compensated
based
on
new
assets
and
sawgrass.
You
have
the
fixed
income
portfolio
here,
but
they
also
have
a
number
of
equity
portfolios.
The
equity
portfolios
on
a
relative
basis
have
not
done
well
for
for
quite
a
while,
and
I
think
this
is
really
more
of
a
symptom
of
that.
C
B
The
fixed
income
team
has
been
stable,
you
know,
overall,
we
see
the
firm
is
stable,
but
I
really
think
you're
just
kind
of
seeing
the
symptom
of
that
long-term
stretch
of
under
performance
on
the
equity
side
would.
B
C
B
You
know
it's
not
a
huge
surprise.
Let's
put
it
that
way,
you
know
again
just
sort.
C
B
Given
where
they
are
now,
interestingly,
just
as
an
aside,
I
heard
yesterday
that
the
equity
portfolio
outperformed
by
by
two
or
three
percent,
just
in
the
most
recent
period,
so
sometimes
it's
funny.
You
see
that
whether
it's
a
board
terminating
a
manager,
that's
underperformed
for
a
while-
or
in
this
case
you
know,
maybe
somebody
moving
on
to
what
they
think
are
greener
pastures,
it's
right
at
the
time
that
maybe
things
turn
around
right.
A
For
sawgrass,
I
see
a
lot
of
performance,
but
I
don't
see
anything
talking
about
duration.
How
is
your
duration
compared.
B
They
don't
take
a
dramatic
amount
of
kind
of
duration
risk.
They
stay
relatively
tight
to
the
to
the
port.
Sorry,
it's
relatively
speaking.
It's
like
relatively
tight
to
the
benchmark,
something
like
six
years
so
yeah
but
and
moving.
I
mean,
obviously,
as
interest
rates
move
it
moves
around,
but
something
like
six
and
a
half
years,
or
something
like
that
and
that's.
B
Some
of
the
things
that
we
could
do,
potentially
shortening
duration,
we're
looking
at
some
other
things
like
tips
or
even
something
like
publicly
traded
like
bank
loans,
or
something
that
within
our
ordinance,
we
could
look
at
and
if
there's
interest
at
the
at
the
board,
we
could
maybe
queue
that
up
for
for
either
the
next
agenda
or
the
next
time.
After
that,
when
there's
when
there's
room.
B
It's
like
floating
right,
correct,
okay,
again,
publicly
traded
you're,
not
in
the
on
the
private
side,
some
of
these
lp
vehicles
that
our
ordinance
doesn't
allow.
But
some
of
those
are
common
public
securities.
But
you
know
a
way
to
try
to
take
some
of
the
pressure
off
of
a
longer
duration,
core
portfolio.
B
Morgan,
real
estate,
8.1
versus
7.7,
for
the
quarter
for
the
year
about
21
a
little
bit
behind
the
benchmark,
but
still
an
outstanding
overall
return
again
as
a
private
investment,
there's
a
little
bit
of
a
delay
in
how
they
get
value.
So
if
you
remember,
we
covet
hit
and
really
affected
equities
in
the
early
part
of
2020.
B
It
wasn't
until
the
end
of
2020
into
the
early
part
of
21
that
we
started
to
really
see
the
negative
numbers
on
real
estate
based
on
what
was
happening
in
the
earlier
part
of
the
year.
Now
the
equity
markets
roared
back
in
later
20
through
2021,
and
it
took
kind
of
to
the
end
of
the
year
for
really
those
big
for
the
real
estate
returns
to
kind
of
catch
up,
and
so
that's
what
you're
seeing
in
that
eight
percent
quarter.
B
Certainly
you
know
all
of
that
didn't
happen
just
in
in
that
three-month
period,
but
you're,
seeing
that
continued
improvement,
in
particular
in
kind
of
the
industrial
and
residential
parts
of
the
real
estate
market,
and
certainly
fantastic
performance.
What
I
would
caution
you,
though,
that
that's
likely
to
subside
and
kind
of
normalize
here.
You
know
we'd
expect
more
in
that
eight
to
ten
percent
range
this
year,
as
opposed
to
that,
you
know,
21
that
we
received
last
year.
B
Any
questions
or
any
additional
questions
on
anything
in
in
the
report
specific
to
the
plan.
I
guess
before
I
move
on
to
this
chart.
I
will
just
I
mentioned
the
number
earlier:
117
million
116
and
change
that
does
translate
to
roughly
six
percent
down
from
the
end
of
the
year.
Now,
if
you,
you
have
to
adjust
that
a
little
bit
for
cash
flow,
so
it's
probably
somewhere
in
the
five
or
five
and
a
half
percent
range.
B
You
know
our
equity
portfolio
has
annualized
at
24
each
of
the
last
three
years
and
here
in
the
face
of
now
the
fed
saying
they're
going
to
start
raising
rates
very
soon.
Some
geopolitical
issues
concerns
over
ukraine
and
china.
It's
not
all
that
surprising
for
the
market
to
take
a
10
or
15
breather.
B
The
last
item
that
I
included
in
your
chart
is
not
plan
specific
you've
seen
this
before
this
chart,
color
codes,
each
of
the
major
asset
classes
and
assigns
a
specific
color
and
then
ranks
them
from
best
to
worst
performer
in
each
individual
calendar
year.
So
2021
is
on
the
far
right
hand,
side,
and
you
can
see
that
dark.
Blue
s,
p
500
was
the
best
performer,
as
I
kind
of
mentioned
earlier,
it's
sort
of
an
unusual
thing.
B
B
Again,
we
just
thought.
B
That
interesting,
it's
a
nice
little,
you
know
update,
but
yeah.
The
short
version
is
this
is
why
you
diversify.
This
is
why
you
have
real
estate,
fixed
income
growth
value,
because
you
never
know
what's
going
to
be
the
best
of
the
worst
given
year,
so
we
want
to
make
sure
we
have
a
reasonable
allocation
to
to
a
good
number
of
asset
classes
to
give
us
that
that
risk
reduction,
while
at
the
same
time
allowing
us
to
meet
our
actuarial
objectives.
B
There
are
no
other
questions.
That
is
everything
that
I
that
I
have
for
you
today.
A
B
C
That
are
no
longer
vested
because
they
retire.
So
you
see
the
vested
number
go
down
a
little
bit
and
then,
which
would
lead
you
to
expect
that
the
total
number
of
retirees
are
built
up.
But
we
did
have
a
few
people
pass
away
as
well,
so
that
that
number
went
down
as
well.
But
that's
really
the
main
part
of
the
movement
that
we
saw.
C
So
did
you
see
that
we
just
approved
a
couple
of
police
officers
retirement
there,
so
we
got
commander
evans
just
wanted
to
mention
you
know
his
33,
almost
33
years
of
service.
He
couldn't
make
it
that
extra
money
he
has
to
go
on
vacation.
C
C
We
also
have-
I
noted
this
year
that,
right
now,
before
this
meeting,
we
have
10
current
employees
that
have
over
30
years
of
service,
which
seems
like
quite
a
bit,
and
I
know
I've
got
no
less
than
10
people
on
my
docket
for
that
are
going
to
be
retiring
within
the
next
year,
which
is
a
pretty
pretty
good
amount
kind
of
spread
all
over
the
city,
not
really
targeting
any
certain
area
or
anything
like
that,
but
just
notable,
I
think,
and
several
of
those
are
in
the
backdrop.
C
So
I
do
think
before
the
year
is
out.
You'll
see
a
higher
number
coming
out
of
the
backdrop
that
you
have
in
years
past
and
which
we're
paying
good
and
accounting
on
cash
flow.
So
some
of
that
cash
that
we
have
sitting
out
will
be
drawn
out.
C
And
so,
if
I
brought
those
people
up
for
choice
here,
you
may
choose
somebody
who's
a
resident
and
then
that
leaves
them
with
fewer
choices,
which
we
really
don't
have
that
big
pool
of
people
who
are
wanting
to
be
on
the
kitchen
boards.
So
I
was
just
asked
to
hold
off
and
I'll
do
a
special
meeting
after
the
council
does
their
selections.
C
So
I
don't
see
any
problem
with
that,
but
we'll
just
have
to
before
I'll
get
in
contact
with
you
guys.
You
know
closer
to.
After
the
council
does
their
elections
and
then
we'll
set
up
some
time
to
do
a
special
meeting
before
march
31st
and
they'll,
just
disability,
police
and
fire
fpta
is
having
a
normal
summer
conference.
It's
june
26
the
29th
at
the
hilton
bonnet
creek
they're
in
orlando.
C
So
if
anybody's
interested
in
that,
let
me
know
about
that,
because
if
you
wait
till
the
may
meeting
to,
let
me
know
we
they
may
already
be
booked
up
for
that.
So,
if
you're
interested,
let
me
know
as
soon
as
registration
kicks
open
I'll,
be
sure
to
get
you
signed
up.
I
usually
as
soon
as
registration
opens
up.
C
I
reserve
six
or
seven
eight
spots
and
then
cancel
if,
if
we
don't
have
enough,
but
fpta
has
kind
of
changed
their
cancellation
policy,
because
I
think
they
had
so
many
people
canceling
with
kobe
going
up
and
down
so
they
actually
charge
you
now
so
trying
not
to
just
register
blank
names.
C
Holiday
contribution
I'll
just
read
this:
the
sugarman
suscon
for
as
well
and
guerrero.
I
got
used
to
saying
that
I
added
those
names
to
to
the
company
there.
They
did
send
each
board
a
nice
holiday
card
said
in
celebration
of
the
holiday
season
and
sugar
and
sustained
brazil
has
made
a
donation
in
your
honor
to
the
doctor
of
maryland
gynecologic
oncology
research
fund
at
the
university
of
miami's
sylvester
comprehensive
cancer
center.
C
C
Software
update
a
couple
years
ago,
we
had
decided
that
we
were
going
to
get
a
pension
administration
software
so
that
the
employees
could
run
their
own
numbers.
Basically,
instead
of
having
to
go
through
me,
they
could
you
know
this
is
somewhere.
We
would
be
updating
it
constantly
with
the
payroll
information
so
that
they
could
go
on
and
say,
hey
what
happens
if
I
retired
on
this
day,
what
is
my
normal
retirement
day?
What
happens
if
I
retire,
then
what
happens
with
my
projections?
If
I
went
out
you
know
three
years
further
than
that.
C
What
does
backdrop
look
like?
They
could
do
all
of
that
themselves
with
this
software,
and
then
we
put
it
on
pause
once
the
city
was
doing
their
erp
system
and
they
kind
of
like
hey,
let's
put
a
pause
on
all
software
and
regroup
and
see
what
this
consultant
says
about
the
erp
system
and
every
software
that
we
have.
C
So
what
has
basically
come
back
from
that
is
that
the
city
believes
that
they
should
be
the
one
to
pay
for,
and
the
consultant
believes
they
should
be.
The
city
should
be
the
one
to
pay
for
the
software,
not
the
pension
plans,
because
the
ones
the
people
who
are
utilizing
the
software
are
current
employees
of
the
city
and
not
really
the
pension
people.
You
know
after
they
start
retirement.
C
So
soon
I
will
be
doing
a
whatever
I
did.
I'm
taking
bids
in
right
now
and
getting
quotes
updated
quotes
from
what
I
got
a
couple
years
ago
to
eventually
take
to
council.
C
I
don't
know
which
one
it's
going
to
be.
I
am
having
a
little
bit
of
trouble.
Getting
people
to
give
me
quotes
on
this.
I've
got
two
and
I've
had
several
companies
turn
me
down
on
giving
a
third
quote,
because
they
say
we
just
don't
give
doors
on
organizations
your
size.
We
only
do
cities,
you
know
the
size
of
miami
and
those
type
things
and
just
saying
it
would
be
in
the
millions
of
dollars.
C
That's
not
something
we're
prepared
to
to
take
on
so,
but
the
two
other
candidates
that
we
do
have
are
very
good
and
I
think
neat
all
the
needs
that
we're
requesting
out
of
this
it's
more
than
just
people
running
their
own
projections.
It's
keeping
up
with
the
accumulated
contributions,
calculation,
giving
that
automatic
interest
rate
and
as
well
as
providing
the
forms,
people
would
need
for
retirement
and
lots
of
other
capabilities,
and
both
of
these
software's
provide
those
type
of
services.
C
C
I
still
would
like
to
you
know:
let
people
know
their
options
that
one
thing
I'm
kind
of
weary
about
this
software
is
somebody.
You
know
they
just
run
their
own
numbers
and
then
they
get
to
the
end
and
then
making
a
decision
that
they
may
not
have
known.
They
had
another
option
or
may
not
fully
understand
backdrop
or
something
like
that.
C
So
I
still
think
I
would
like
to
speak
with,
especially
for
people
that
are
10
years
out
who
had
just
had
no
idea
what
their
numbers
were
going
to
look
like
and
maybe
never
take
the
time
to
control
this,
but
they
might
get
on
our
website
and
punch
it
in
and
see.
Much
like
you
can
do
it
on
the
irs
to
see
your
social
security
numbers
and
stuff
like
that,
and
then
our
next
meeting
is
of
course,
going
to
be
our
big
meeting
in
may.
That's
why
it's
at
two
o'clock.
C
That's
not
true,
it
is
tuesday.
It's
the
august
meeting,
that's
on
the
wednesday
because
of
budget
meetings,
so
it
is
tuesday,
may
10th
two
o'clock
at
two
or
so
three.
C
That'll
be
a
lot
of
what
I'm
doing
in
the
next
between
now
and
then
as
preparing
for
that,
as
well
as
submitting
reports
to
the
state
for
our
actuarial
report
and
everything
that's
coming
up.
Oh,
I
didn't
bring
the
letter
down
with
me,
but
there
was
an
issue
with
the
city
of
jacksonville,
not
contributing
the
chapter
175
monies.
C
C
They
didn't
do
that
they
did
it
the
first
year
and
they
didn't
the
second
year
and
they
haven't
so
far
this
year.
So
gabriel
smith
has
said.
Well,
here's
the
amount
you're
in
shortfall
for
for
those
and
it'll
be
reflected
in
the
reports
and
and
things
that
give
reuters
given
us
each
year
for
the
actuarial
report.
C
City
of
jacksonville
beach
did
make
their
required
contribution,
which
is
significantly
more
we're
in
the
700
and
something's
like
763
000.
Something
like
that.
The
city
of
jacksonville
beach
is
contributing
10
years
same
amount
every
year,
because
we
looked
at
what
the
net
pension
liability
was.
Whenever
the
firefighters
went
to
the
city
of
jacksonville
and
said:
okay,
we're
going
to
pay
that
off
over
10
years
and
whatever
actuarially
that
gabriel
smith
decides
is
what
the
city
of
jacksonville
will
be
responsible
for
minus
the
opposite
of
checkpoints
at
five
months,
and
that
didn't
happen.
C
So
we've
just
got
to
get
that
corrected.
I'm
sure
they
will
make
that
contribution.