MINUTES OF THE MEETING OF
THE GOVERNING BOARD
OF THE COLORADO COUNTY OFFICIALS AND
EMPLOYEES RETIREMENT ASSOCIATION
The Monthly Meeting of the Governing Board of the Colorado County Officials and Employees Retirement Association was held at 8:30 a.m. on the 17th day of May 2019 at SEMSWA.
The following were present at the Meeting: Lucas Hale, Board Chairman
Scott Vargo, Board Member
Chris Felton, Board Member
Paul Danley, Board Member
Elizabeth Price, Executive Director
Tim Mullen, Chief Financial Officer
Ed Krisor, Legal Counsel.
Dawn Small, MARCOM Director
Susan Hofmann, Executive Planner & Administrator
Board Members Allumbaugh and DiTullio joined the Meeting by telephone.
Lucas Hale called the Meeting to order.
A Motion was made by Tobe Allumbaugh to approve the Minutes of April 12, 2019 with corrections. The Motion was seconded by Chris Felton and the Motion passed unanimously.
Peter Mustain and Christian O’Dwyer of Innovest joined Meeting. Joan Green, CCOERA Lobbyist joined Meeting and updated the Board on the bills that will affect CCOERA, if signed by the Governor. Ms. Green leaves Meeting @8:45am. Christian O’Dwyer was next with 1st Quarter Portfolio Review. Following, Peter Mustain discussed the Managers Score Card and the Watch List for the 1st Quarter.
It was noted Mike Norman of Galliard will possibly attend the June 21, 2019 Board Meeting. Mr. Mullen continued the discussion of the CCOERA fee assessment analysis and the proposed budget for 2019-2020 that was begun with the Board at its April 12, 2019 meeting.
A Motion was made by Jerry DiTullio and seconded by Paul Danley to approve the 2019/2020 budget as presented with possibility of reviewing revenue and expenses at another time. The Motion was passed unanimously.
Lucas Hale was next with a discussion on Ramona Weber’s resignation from the Board. After a discussion on recruitment and voting procedures and Operating and Procedures Manual change, the following Motions were made.
A Motion was made by Jerry DiTullio and seconded by Lucas Hale to accept the Nominee Commitment Letter as presented. The Motion was passed unanimously.
A Motion was made by Paul Danley and seconded by Chris Felton to approve recruitment and voting procedures as discussed. The Motion was passed unanimously.
A Motion was made by Scott Vargo and seconded by Lucas Hale to change Sections 18.104.22.168 and 22.214.171.124 of the Operating and Procedures Manual regarding the procedure to be followed in the election of a new board member upon the resignation or death of a board member. The changes are set forth in red line on the attached Exhibit “A”. The Motion was passed unanimously.
Elizabeth Price was next with her Executive Director report. She discussed the recent staff retreat and how successful it was. Many employees reported it was a positive experience and got a lot out of it. Next, she reported on the office renovation noting the laminate on the front reception area desk would have to be replaced and the conference room table is scheduled to be delivered the end of June. She also noted the upcoming CCI Conference which will be held June 3-5, 2019 in Keystone. The Executive Director announced Susan Cleeton’s promotion to Director of Client Management, effective June 1, 2019. Ms. Cleeton will keep the Board updated on Client Service presentations to the Boards of County Commissioners and member entities.
@11:40 am Board Member DiTullio leaves Meeting.
Dawn Small continued the discussion from the April 12, 2019 board meeting concerning a possible name change for CCOERA. After a lengthy discussion led by Ms. Small, the majority of the Board voted to change the name the organization to Colorado Retirement Association.
A Motion was made by Chris Felton and seconded by Paul Danley to approve the name change from Colorado County Officials & Employees Retirement Association to Colorado Retirement Association. With Board Members, Felton, Danley and Hale voting in favor and Board Members Allumbaugh and Vargo voting against, the Motion passed.
@12: 12 p.m. Lucas Hale made a Motion to go into Executive Session pursuant to 24-6-402(4)(f)(I) C.R.S. for staff personnel matters. The Motion was seconded by Chris Felton and the Motion passed unanimously.
The Executive Session ended@l2:40 p.m. Expense reports were reviewed and approved. The next business meeting of the CCOERA Board will be held by teleconference on June 21, 2019. There being no further business to come before the Board, the Meeting was adjourned.