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CALL TO
ORDER
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The annual 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 2:05 p.m., March
13, 2009, in the Oxnard Union High School District Board Room, 309 South K
Street, Oxnard, California 93030.
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Trustees present: Jan Henry, Eric Ortega, Scott Lee,
Steven Gama, and Robert Valles, Jr.
Trustee(s)
absent: Vicki Holmbom
Legal Counsel present: Anthony
Trembley
Guests
present: None
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PLEDGE OF
ALLEGIANCE
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Trustee
Ortega led the pledge of allegiance.
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ADOPTION OF AGENDA
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On motion of Trustee Lee,
seconded by Trustee Ortega, and carried, the agenda was adopted, as
presented. Items were then considered
in the order in which they appear in these minutes.
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ADOPTION OF MINUTES
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On motion of Trustee Lee,
seconded by Trustee Ortega with a vote of 2 Ayes and 3 Abstentions, the minutes of the regular meeting of December
1, 2008, was approved, as presented.
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AUDIENCE TO ADDRESS THE BOARD
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None
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NEW TRUSTEE ORIENTATION
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Counsel Trembley
disseminated orientation packets to newly elected Trustees Valles and Gama. Counsel Trembley gave an overview on
the goals of the Trust as well as insurance and other documents related to
the Trust.
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ACTION ITEMS
Approval
of Payment of Invoices
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Upon motion of Trustee GamaLee, seconded by Trustee Valles and carried,
invoice from Nordman, Cormany, Hair & Compton, LLP in the amount of $ 353.40
was approved for payment, as presented.
Upon motion of Trustee LeeLee, seconded by Trustee Ortega and carried,
invoice from Musick, Peeler & Garrett, LLP in the amount of $ 27.50 was
approved for payment, as presented.
Upon motion of Trustee OrtegaLee, seconded by Trustee Gama and
carried, invoice from Allplaces in the amount of $ 75.00 was approved for
payment, as presented. Trustee
Lee abstained from the vote.
Upon motion of Trustee LeeLee, seconded by Trustee Ortega and carried,
invoice from Vance, Thrift & Biller, LLP in the amount of $ 850.00 was
approved for payment, as presented.
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Approval
of Ratification of Payment of Invoices
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Upon motion of Trustee LeeLee, seconded by Trustee Ortega and carried, payment
of invoices below was ratified, as presented.
Ø Vance,
Thrift & Biller LLP (Invoice #(s): 37039) - $ 850.00
Ø Canterbury
Consulting, Inc. (Invoice #(s): 13427) - $7,568.00
Ø Nordman, Cormany, Hair & Compton, LLP (Invoice
#(s): 211714) - $ 1,813.40
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ACTION ITEMS (Continued)
Transfer
of Funds to Checking Account
Check
Custodial Fee Structure
RFP:
Change of Investment Consultant
Renewal
of Trust Insurance Policies
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No action taken.
Trustee Lee discussed the possibility of exploring new
money market and checking account custodian. Item was tabled for a future meeting.
Upon motion of Trustee Gama, seconded by Trustee Lee and
carried, Counsel Trembley was authorized to draft a Request for Proposal
(RFP) to explore new Investment Consultant options.
Upon motion of Trustee GamaLee, seconded by Trustee Valles and carried,
renewal of trust insurance polices was approved, as presented.
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INFORMATION ITEMS
CSEBO
Actuarial Study
Financial Statements
Investment Performance Review
City National Bank
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As of December 31, 2008,
the Estimated Income and Expense Report of the Coastal Schools Employee
Benefits Organization (CSEBO) Select Care Medical balance was $2,663,353;
Delta Dental balance was $306,126; and Medical Eye Services was $141,432.
Will be available at the
next meeting.
Financial Statements as
of December 31, 2008, shows a total liabilities and net assets of $25,128,290.
The 4th
Quarter Investment Performance Review, dated December 31, 2008 was received
as presented.
As of February 28, 2009,
the City National Bank Investments account reflects an ending market value of
$23,437,692, and the City National Bank Money Market account shows an ending
balance of $23,006.
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ITEMS FOR FUTURE CONSIDERATION
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1.
Actuarial Study
2.
Check Custodial Fee Structure
3.
RFP: Change of Investment Consultant
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FUTURE MEETING
ADJOURNMENT
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April
24, 2009 - 2:00 pm
There
being no further items of business before the Board, Chair Henry adjourned
the meeting at 3:40 pm.
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