Everett School Employees Benefit Trust

Minutes of January 14, 2008

Board Room

4:00 pm

 

 

I.   Call to Order

Mike called the meeting to order at 4:00 pm

 

II.   Adoption of Agenda

The agenda was approved as written.

 

III.   Approval of Minutes

The minutes from the December 11^th meeting was approved as written.

 

IV.   2^nd Quarter Investment Update

Curt Haldorson introduced himself to the new trustees and explained his role. Curt then distributed copies of the Projected Monthly Income Summary and the Bond Maturity Distribution List and reviewed them with the trustees. He mentioned that since interest rates were dropping some of the mortgaged backed assets might not go to maturity.

 

V.   Financial Report

Darla gave an overview of the financial reports for Wayne and Susan’s understanding and provided information on the December financials. She reported that there was an increase of $209,172 in the fund balance for the month. Investments included the purchase of four CDs, a Full Call of one CD, and three mortgage and asset backed securities. The trust consultants invoicing for November services was again offset by commissions resulting in a new credit balance of $(12,857). ESI rebate for the 1^st and 2^nd quarter of 2007 was received ($13,029.89), and the third settlement check from General American Mutual Holding in the amount of $1,169.74 was received. Darla said that there would be one more payment from General American by 2009. Comparisons showed that HMA claims are $54,092 less than December 2006 with the overall monthly average still lower than a year ago. ESL claims are $30,321 less this month than December 2006. Comparison for the year showed that the fund balance this month was $9,658,351 compared to $6,943,465 a year ago and the overall assets for this fiscal year total $10,878,351 compared to $8,107,465 a year ago.

 

 

Darla asked the trustees how they would like to see the wellness coordinator listed on the Statement of Operations and Fund Balance report. After discussion it was decided that she would have two separate line items, one for salary and one for expenses.

 

VI.   Quarterly Employee Assistance Program Report

Randi reported that four employees used the services (three females and one male). One referral came because of the brochure, two from HR and one from another employee. All were routine relating to depression, relationships, and family issues. Two withdrew before receiving services and two were resolved within the EAP program. It was suggested that information could put in the District’s LINK publication reminding employees of the program and what is offered.

 

VII.   Wellness Coordinator Hiring Update

Randi reported that the Wellness Coordinator position has been posted for several weeks and closed today. At 2:00 pm there were twenty-five applicants which Randi thought was encouraging. Screening will probably begin tomorrow or the next day and interviewing would take place January 24^th with a possible hire date in mid February. Randi asked the trustees what level they would like to participate in developing questions and who they’d like to see on the interview team. Discussion followed. It was recommended that one trustee from the district and one trustee from the union be included on the interview team. Wayne suggested including someone from Athletics. Other possibilities included a classified staff member, a counselor or someone from CHAMPS. Randi provided some examples of interview questions and asked for some feedback. A brief discussion followed regarding what characteristics the trustees would like to see in the Wellness Coordinator. Randi said it may be possible for the trustees to meet the new coordinator if the hiring is completed before the February meeting.

 

VIII.  Flexible Savings Account Enrollment

Randi reported that Healthcare FSA had 154 certificted staff members and 28 classified members enrolled. The Dependent FSA had 29 certificated members but no classified staff for a total combined enrollment of 211. Of the 211 some could be enrolled in both Healthcare and Dependent FSA. Randi felt that more PR regarding dependent care might be needed.

 

IX.   Fiduciary Responsibility Presentation

Melanie Curtice presented information on fiduciary responsibilities for the benefit of the two new trustees. The presentation was also a good review for the rest of the trustees which also served as a refresher for the other trustees.

 

X.   Review of Annual Calendar

N/A



 

XI.   Other

Darla reported that the fiduciary liability insurance renewed on Saturday with the same premium as last year. She said the coverage was still at $1,000,000 and wanted to know if that was enough. Melanie Curtice stated that, in her opinion, the coverage was adequate.

 

XII.   Adjournment

Meeting was adjourned at 5:50 pm.

 

 

Sincerely,

 

 

John Morrill

Secretary