OXNARD UNION HIGH SCHOOL DISTRICT
RETIREE HEALTH BENEFITS TRUST

Oxnard, California

Minutes of the August 24, 2007 regular meeting of the Board of Trustees

• The regular meeting of the Board of Trustees of the Oxnard Union High School District Retiree
  Health Benefits Trust was called to order by Board Chair Henry at 2:06 p.m., August 24, 2007, in
  the Oxnard Union High School District Board Room, 309 South K Street, Oxnard, California
  93030.
• Trustees present: Jan Henry, Roger Rice, Scott Lee, Vicki Holmbom, Eric Ortega, and Wayne
  Edmonds
• Trustee absent: None
• Legal Counsel present: Anthony Trembley
• Legal Counsel absent: Laura McAvoy
• Recording Secretary present: Grace D. Tuazon
• Guests present: Steven Gama, Director-Risk Management

• Trustee Rice led the Pledge of Allegiance.

• On motion of Trustee Rice, seconded by Trustee Holmbom and carried, the agenda was adopted,
  as presented. Items were then considered in the order in which they appear in these minutes.

• On motion of Trustee Holmbom, seconded by Trustee Rice and carried, the minutes of the regular
  meeting of May 4, 2007, was approved, as presented.

• Upon motion of Trustee Lee, seconded by Trustee Edmonds and carried, invoice from Tollman &
  Wiker Insurance in the amount of $ 1,845.00 was approved, as presented.
• Upon motion of Trustee Holmbom, seconded by Trustee Ortega and carried, invoice from
  Nordman, Cormany, Hair & Compton in the amount of $ 743.00 was approved for payment, as
  presented.
• Upon motion of Trustee Lee, seconded by Trustee Holmbom and carried, invoice from Canterbury
  Consulting, Inc. in the amount of $ 7,119.00 was approved for payment, as presented.
• Upon motion of Trustee Holmbom, seconded by Trustee Rice and carried, invoice from Vance,
  Thrift & Biller LLP n in the amount of $ 775.00 was approved for payment, as presented.
• Upon motion of Trustee Edmonds, seconded by Trustee Holmbom and carried, invoice from
  Allplaces in the amount of $ 150.00 was approved for payment, as presented. Trustee Lee
  abstained.

Correspondence

• Steven Gama, Director of Risk Management updated trustees on BlueCross Preferred Provider
  Plan and member Physicians. Mr. Gama also updated trustees on the funds received and deposited into the County Treasury related to the medical retiree drug program.
• A motion was then made by trustee Rice, seconded by trustee Lee and carried authorizing chair
  Henry to send a written request addressed to the Ventura County Office of Education requesting
  transfer of funds from the County Treasury into the OUHSDRHBT account.

• It was reported that as of June 30, 2007, the Estimated Income and Expense Report of the Coastal Schools Employee Benefits Organization (CSEBO) Select Care Medical balance was $ 2,008,820.96;
  Delta Dental balance was $ 151,740.49; and Medical Eye Services was $ 241,698.67.

• Board Chair Henry reported that as of July 31, 2007, the City National Bank Investments account
  reflects an ending market value of $ 29,937,508.21. Board Chair Henry also reported that as of
  June 29, 2007, the City National Bank Money Market account shows an ending balance of $
  24,851.08.

• Board Chair Henry reported that as of March 31, 2007, the total liabilities and net assets was
  $29,355,439.

• Michael Lavin of Canterbury Consulting, Inc. updated trustees on the progress of OUHSDRHBT
  investment portfolio via teleconference.

• CONSIDERATION Michael Lavin, Canterbury Consulting
• Medicare Reimbursement Update
• 2007-08 Budget

• Friday, October 19, 2007 – 2:00 p.m., in the Oxnard Union High School District Board Room.

• There being no further items of business, Board Chair Henry adjourned the meeting at 3:10 p.m.