MARQUETTE ASSOCIATES
Pat Wing reviewed the performance report and gave an update through
October 31, 2022.
Next, Mr. Wing presented the Funds’ cash flow projections and
suggested rebalancing options to address extending the bond ladder.
Mr. O’Neill moved to rebalance the Police Fund as iterated on page 9.
Specifically, that the Fund:
1. SELL $2,000,000 (two million dollars) of Federated Government
Obligations Money Market
2. BUY $2,000,000 (two million dollars) in short term bonds with
2025 maturities at BB&T Institutional Investment Advisors.
Ms. Balog seconded the motion. All present voted in the affirmative and
the motion passed.
Mr. O’Neill moved to rebalance the Fire Fund as outlined on Page 11.
Specifically, that the Fund:
1. SELL $1,500,000 (one million five hundred thousand dollars) of
Federated Government obligations Money Market.
2. BUY $1,500,000 (one million five hundred thousand dollars) in
short term bonds with 2025 maturities at BB&T Institutional
Investment Advisors.
Mr. Bruce seconded the motion. All present voted in the affirmative and
the motion passed.
Ms. Balog moved to rebalance the O&E Fund as outlined on Page 13.
Specifically, that the Fund:
1. SELL $25,000 (twenty-five thousand dollars) of the Vanguard
Equity Income Fund (VEIRX; 921921300)
2. SELL $15,000 (fifteen thousand dollars) of the MFS Int’l Intrinsic
Value Equity Fund MINJX; 552746349)
3. SELL $300,000 (three hundred thousand dollars) of Federated
Government Obligations Money Market
4. BUY $240,000.00 (two hundred and thirty thousand dollars) in
short term bonds with 2025 maturities at BB&T Institutional
Investment Advisors.
5. BUY $100,000.00 (one hundred thousand dollars) in short term
bonds with 2026 maturities at BB&T Institutional Investment
Advisors.
Mr. Weiss seconded the motion. All present voted in the affirmative and
the motion passed.
The Board discussed asset allocation of U.S. equity vs. non-U.S. equity.
No action was taken, and the discussion may continue at a future
meeting.
