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LITTLE CANADA FIRE DEPARTMENT RELIEF ASSN. BOARD OF TRUSTEES MEETING July 23, 1991 The meeting was called to order at 7:30 p.m. by President Bob Debace. Roll call was taken: present: Dan Peterson Jack Fitzgerald Steve Morelan Tom Stadler Joe Vitale Frank Graczyk Bob Debace Bill Blesener Minutes from the past meeting were read and approved as read. The Treasurer's report was read. The account balances on hand as of year -end 1990 were: General fund - $185,145 Special fund - $733,668 Jack Fitzgerald moved, seconded by Joe Vitale, that the Treasurer's report be accepted as read. Motion passed. Bob reported that two new members have been accepted as permanent members in the Fire Dept. at the July business meeting. They are Todd Boss and Jeff Debace. Their probationary periods started 7 -12 -90 and they were voted in as permanent members 7 -8 -91. As a matter of formality, Bob asked for a motion to accept them as members of the Relief Assn. So moved by Bill Blesener, seconded by Frank Graczyk. Motion passed. For the record, their effective date will match that of the Fire Dept. - July 12, 1990. The Secretary was asked to send letters to Dan Drake and Marco Frattalone updating them as to the value of their vested accounts in the Relief Assn. Bob mentioned that the Fire Dept. recently purchaseda new fire truck with the anticipated delivery date being about a year from now. Informally the Relief Assn. was asked to consider the possibility of extending a loan to the Fire Dept. should there be a need at the time the truck is delivered. The figure mentioned was up to $100,000. Bob has talked to our financial advisor (P.J.H.) and was told that there should be no problem if we desire to do so. No terms or duration period has been discussed. We'll wait for that to see what actually materializes next year. Bob reported that he has talked with the accountants regarding our current financial status and what possibilities might be for a benefit rate increase next year. We are now at $1,800 /year of service. By year -end 1991 we'll be 105% funded. If we increase to $1,900 in 1992, we'll be 99.4% funded by year -end. At $2,000, we'll be 94.07. funded. Bob asked for ideas as to what we should present to the City Council as a recommendation for 1992. Bill Blesener moved, seconded by Steve Morelan, that we recommend to the Council that our benefit level be increased to $2,000 /year of service effective 1 -1 -92. Motion passed. Page 13