MINUTES OF THE MEETING OF THE
GOVERNING BOARD OF THE
COLORADO RETIREMENT ASSOCIATION
The monthly meeting of the Governing Board of the Colorado Retirement Association was held at 9:00 a.m. on the 17th day of April 2020, via teleconference.
The following were present at the meeting:
- Lucas Hale, Board Chairman
- Chris Felton, Board Member
- Paul Danley, Board Member
- Tobe Allumbaugh, Board Member
- Scott Vargo, Board Member
- Jerry DiTullio- Board Member
- Darius Allen- Board Member
- Elizabeth Price, Executive Director
- Tim Mullen, Chief Financial Officer
- Ed Krisor, Legal Counsel
- Dawn Small, MARCOM Director
- Katie Dirksen, Retirement Services Coordinator
- Lois Kruse, Office Administrator
Lucas Hale called the meeting to order at 9:03 a.m.
A motion was made by Darius Allen to approve the minutes of February 21, 2020 as presented. The motion was seconded by Paul Danley and passed unanimously. A motion was made by Jerry DiTullio and seconded by Chris Felton to approve the minutes of April 6, 2020 as presented. The motion passed unanimously.
Joan Green presented a legislative update noting that the legislature may resume their session on approximately May 18, 2020.
Lucas Hale made a motion that was seconded by Tobe Allumbaugh at 9:09 a.m. to go into executive session for the purpose of discussion with and advice from legal counsel regarding personnel matters- Pursuant to 24-6-402(4)(b) C.R.S. The motion passed unanimously. The executive session ended at 9:50 a.m.
Elizabeth Price presented her Executive Director report. Paul Danley made a motion to approve the updated Board Education policy and document. Jerry DiTullio seconded the motion; the motion passed unanimously. Sales lead list information was presented by Elizabeth Price. Dawn Small reviewed the various charts of information with the board. Elizabeth Price suggested that no deeper dive for information be done at this time and the board agreed.
Elizabeth Price began a discussion whether a motion was needed to proceed with virtual meetings for the foreseeable future. Ed Krisor stated that a motion was not needed and the board could decide at each meeting if the next meeting should be conducted via teleconference or in person.
Dawn Small presented the MARCOM report indicating click-through rates, online performance statistics, the current communication campaign and online goal completions.
Tim Mullen presented the CFO report. Unaudited Financial Statements for the six months ended 12-31-19 were presented. Loans were down year over year through 12-31-19 however it will be hard to determine where balances will go given the current pandemic. Staff conferences & educational expenses were much higher due to computer training in the current fiscal year. The remaining financials and G/L were presented with no questions
Elizabeth Price suggested the board go into an Executive Session to discuss the proposed budget as it related to personnel matters. At 10:21 a.m. a motion was made by Lucas Hale and seconded by Darius Allen to go into Executive Session pursuant to 24-6-402(4)(f)(l) C.R.S. to discuss personnel matters. The motion passed unanimously. The executive session ended at 11:07 a.m.
New Entity Qualification: -Lake Fork Health Services District dba Lake City Area Medical Center. Ed Krisor stated he had reviewed the supplied information and Lake Fork Health Services District is qualified to participate in CRA’s 457(b) plan. Jerry DiTullio made a motion to accept the entity into CRA. Chris Felton seconded the motion and it passed unanimously.
Expense reports were presented with no questions.
The next meeting of the CRA Board of Directors will be held on May 15, 2020 via teleconference.
There being no further business to come before the Board, a motion was made by Paul Danley and seconded by Scott Vargo to adjourn the meeting. The motion passed unanimously and the meeting was adjourned at 11:12 a.m.