Board Oversight > Minutes Archive > May 17, 2019 CRA Minutes

May 17, 2019 CRA Minutes

Board Meeting: May 17

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

Tobe Allumbaugh, Board Member, and Jerry DiTullio, Board Member, 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.

 

Legislative Update:
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.

 

Innovest Report:
Peter Mustain and Christian O’Dwyer of Innovest joined Meeting. 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.

CRA Activities:
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 1.2.3.3 and 1.2.3.4 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.

 

Executive Director Report:
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.

 

MARCOM Report:
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.

Executive Session:
@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 @12:40 p.m.

Conclusion:
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.