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 1:25 p.m., October
9, 2009, in the Oxnard Union High School District Board Room, 309 South K
Street, Oxnard, California 93030.
Trustees present: Jan
Henry, Eric Ortega, Vicki Holmbom, & Steven Gama
Trustee(s) absent:Robert Valles, Jr.
Legal
Counsel present:Anthony
Trembley
Guests present:Michael Laven-Canterbury Consulting, Inc.
PLEDGE OF
ALLEGIANCE
Trustee Gama
led the pledge of allegiance.
ADOPTION OF AGENDA
On motion of Trustee Holmbom,
seconded by Trustee Gama, 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 Gama,
seconded by Trustee Holmbom, and carried, minutes of June 5, 2009 and June
19, 2009 were adopted as presented.
AUDIENCE TO ADDRESS THE BOARD
None
CANTERBURY CONSULTING INC.
Michael Laven gave an update on the Trust’s
portfolio performance as of September 30, 2009; as well as an Economic Update
as of October 2, 2009.Mr. Laven
recommended that Phase 3 of 4 of the approved reallocation be implemented at
the beginning of November and Phase 4 of 4 to take place in December.
ACTION ITEMS
BBM&D
New Fee Structure
Approval
of Letter of Engagement
Approval
of 2008 Tax Form 199
Approval
of Tax Form 8879-EO
Chair Henry updated the board on Allplaces and
BBM&D’s merger and new fee structure.Chair Henry will contact Allplaces for clarification on
the new fee structure and report back to the board.
Upon motion of trustee Holmbom, seconded by
trustee Gama and carried, the Letter of Engagement with Vance, Thrift &
Biller for Tax Services, was approved as presented.
Upon motion of trustee Ortega, seconded by trustee
Gama and carried, the 2008 California Exempt Organization Annual Information
Return – Form 199, was approved as presented.
Upon motion of trustee Ortega, seconded by trustee
Gama and carried, the 2008 IRS e-file Signature Authorization for an Exempt
Organization Form 8879-EO, was approved as presented.
Approval
of Payment of Invoices
The invoices below were approved for payment as
presented:
Michael Laven gave an overview
on the revised draft of the Guidelines and Objectives dated October,
2009.Upon recommendation of the
board, the Investment Policies Guidelines and Objectives will be brought back
for further discussion and/or adoption at the next meeting.
INFORMATION ITEMS
Financial
Statement
Financial Statements as
of June 30, 2009, shows a total liabilities and net assets of $27,348,653.
City National Bank
As of September 30, 2009, the City National Bank
Money Market account shows an ending balance of $207,728 and the City
National Bank Investment account reflects an ending market value of $29,986,560.
FUTURE MEETINGS
December
4, 2009; 2:00 PM
ADJOURNMENT
There
being no further items of business before the Board, Chair Henry adjourned
the meeting at 2:55 pm.
