HomeMy WebLinkAbout07-29-1999 Meeting
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PENSION SUBCOMMITTEE
COMMISSION CHAMBERS
July 29, 1999
PRESENT: Hons. Bob Young, Mayor; Lee Beard, Mayor Pro Tern; Ulmer
Bridges, Finance Committee Chairman; Randy Oliver, Administrator; Lon Morrey,
Comptroller and Lena Bonner, Clerk of Commission.
Also Present: Mr. Jerry Brigham, Commissioner.
Mr. Charles May of Robinson Humphrey Company, Inc. made a presentation
regarding the second quarter operating results. He noted that the stock market has
experienced a period of volatility over the last year. He reviewed the summary of growth
for the 1949, 1945 and 1977 pension plans and stated that they have no recommendations
for changes at this time.
Mr. Beard: I move that we receive this as information.
Mr. Bridges: Second.
Motion adopted unanimously.
The Committee next heard an administrative report from Mr. Paul Roberts of
Pension Services regarding the services that they provide for pensioners of Augusta
Richmond County.
Mr. Taylor Stokes from Regions Bank addressed the Committee regarding their
role as the money management arm of the Trust Department of their bank.
Mr. Keith Greaves from Four Seasons Securities, Inc. addressed the Committee
about their services as an investment advisory firm.
Mr. Baker: We were concerned about the rent being collected on the property on
Reynolds Street.
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Mr. Mayor: Mr. Wall is not here today and we would like to have him present to
discuss this.
Mr. Oliver: My last conversation with Mr. Wall indicated that the rent is being
paid at this point and that he had collected that portion in arrears.
Mr. Baker: I would appreciate it if you could get those figures for us.
Mr. Oliver: I can do that.
Mr. Maddox: We would like to see you check into putting this property on the
market rather than just leaving it as is.
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Mr. Beard: We do have concerns about that.
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Mr. Beard: I move we adjourn.
Mr. Bridges: I second it.
Motion adopted unanimously.
ADJOURNMENT: There being no further business, the meeting was adjourned.
Lena J. Bonner
Clerk of Commission
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