April 2, 2020 Board of Directors Meeting Minutes

Posted on Apr 29, 2020

Board Members Present:                                                     

  • J. Carson, President
  • R. Williamson, Secretary
  • P. Malchow, Sgt-at-Arms
  • B. Walsh
  • D. Holland
  • S. Carbonara-Ramos

Staff Members Present:

  • S. Dillon, Executive Director
  • R. Keller, Office Manager

Guest:

  • Chief Vince Niski

DUE TO COVID-19 RESTRICTIONS, THE BOARD DID NOT CONVENE IN FULL. 

Meeting called to order at 9:30am

Board Discussion Items:

  • Chief Niski: As discussed in his April 7th Department-wide email, Chief Niski reviewed the city’s projected revenue shortfall due to COVID-19, and measures put in place to reduce the Department’s share.
  • Loan Restructuring: The Board agreed to move forward with a restructuring of the current building loan to a 10-year mortgage with a lower interest rate than we are now paying.  The building will be paid in full at the end of the 10 years, rather than having a remaining balloon payment.
  • Membership/Benefits: Deferred.
  • First Quarter 2020 Membership Report: Sworn members increased by 61; 11 members moved to the Retiree category and Civilians increased by 2.   Overall membership was up 7.6 percent compared to the same period last year.
  • Financial Report: Approval of February financial report deferred due to lack of a quorum.
Investment Accts.     February 2020 January 2020 December 2019 November 2019 October 2019 September 2019
Checking $97,381.05 $100,991.60 $71,276.65 $101,153.66 $109,195.71 $100,905.47
Gen. Invested Fund $339,666.72 $354,333.46 $355,606.78 $348,646.08 $341,731.97 $338,787.08
Fallen Officers Fd. $162,176.06 $168,928.61 $169,298.69 $166,239.02 $163,489.63 $162,208.67
Totals $599,223.83 $624,253.67 $596,182.12 $616,038.76 $614,417.31 $601,901.22

 

Small Donor Account:               February 2020               February 2019

                                                            $23,244.00                           $ 24,244.00

Meeting adjourned at 11:00am