CALL TO

ORDER

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 Rice at 2:03 p.m., August 22, 2008, in the Oxnard Union High School District Board Room, 309 South K Street, Oxnard, California 93030.

Trustees present:  Roger Rice, Jan Henry, Wayne Edmonds, and Vicki Holmbom

Trustee absent:  Scott Lee and Eric Ortega

Legal Counsel present:  None

Legal Counsel absent:  Anthony Trembley, Laura McAvoy

Guests present:  None

PLEDGE OF

ALLEGIANCE

Wayne Edmonds led the pledge of allegiance.

ADOPTION OF AGENDA

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

ADOPTION OF MINUTES

On motion of Trustee Holmbom, seconded by Trustee Edmonds and carried, the minutes of the regular meeting of June 5, 2008, was approved, as presented.

AUDIENCE TO ADDRESS THE BOARD

None.

ACTION ITEMS

Approval of Payment of Invoices

Upon motion of Trustee HenryLee, seconded by Trustee Holmbom and carried, invoice from Nordman, Cormany, Hair & Compton in the amount of $ 925.79 was approved for payment, as presented.

Upon motion of Trustee Holmbom, seconded by Trustee Henry and carried, invoice from Canterbury Consulting in the amount of $ 7,004.00 was approved for payment, as presented.

Upon motion of Trustee Edmonds, seconded by Trustee Holmbom and carried, invoice from Vance, Thrift & Biller LLP in the amount of $ 850.00 was approved for payment, as presented.

Upon motion of Trustee Holmbom, seconded by Trustee Henry and carried, invoice from Deloitte Consulting LLP in the amount of $ 3,678.00 was approved for payment, as presented.

Upon motion of Trustee Henry, seconded by Trustee Edmonds and carried, invoice from Tolman Insurance Services, LLC in the amount of $ 204.00 was approved for payment, as presented. 

Upon motion of Trustee Edmonds, seconded by Trustee Henry and carried, invoice from Allplaces in the amount of $ 75.00 was approved for payment, as presented. 

INFORMATION ITEMS

Canterbury Consulting

The portfolio investment performance summary as of June 30, 2008 shows an ending market value of $29,931,000.  After review of the portfolio, it was moved by Chair Rice, seconded by Chair Henry and carried that a sub-committee composed of Chairs Lee, Henry, and Edmonds be formed to meet with PERS representatives to explore investment opportunities through PERS.

INFORMATION ITEMS

CSEBO

City National Bank

Open Comments

Steven Gama reported that as of May 31, 2008, the Estimated Income and Expense Report of the Coastal Schools Employee Benefits Organization (CSEBO) Select Care Medical balance was $1,195,262; Delta Dental balance was $ 145,808; and Medical Eye Services was $ 136,773.

Board Chair Rice reported that as of July 31, 2008, the City National Bank Investments account reflects an ending market value of $ 27,777,358.  Board Chair Rice also reported that as of June 30, 2008, the City National Bank Money Market account shows an ending balance of $ 32,396.

None

CLOSED SESSION

Board Chair Rice announced that the Board was going into closed session to discuss confidential materials relating to:

Ø  Conference With Legal Counsel--Potential Litigation; Significant Exposure To Litigation Pursuant to Government Code Section 54956.9(b): 1 case (PVSD Unification)

RECONVENE IN PUBLIC:  REPORT

OF CLOSED SESSION ACTION

ADJOURNMENT

The Board reconvened in open session at 3:10 p.m., and announced that no action had been taken.

There being no further items of business, Board Chair Rice adjourned the meeting at 3:15 p.m.