Debra J. Mills Burch

Key discussions included the presentation of the Q3 Investment Performance Report by Marquette Associates, noting a Market Value of $8.3M as of September 30, 2022, and a portfolio return of -6.0% (net). The board also approved a rebalancing motion, transferring $120K from Fidelity International Index and Cash into Fidelity U.S. Bond Index. The Plan Administrator's Report detailed administrative expenses, FY2023 contributions processed ($1,500,000, or 50% of the $3,000,000 total approved contribution), and confirmed the LOSAP is funded at 30.77%.

The meeting agenda included the approval of the agenda itself, with a correction regarding the acting Chair, and the approval of the minutes from the preceding meeting in June 2024. Key presentations involved the Q2 Investment Performance Report, which was approved, along with specific instructions for rebalancing investment funds. Additionally, the LOSAP Valuation of June 30, 2023, was accepted. The Plan Administrator's Report detailed fund transfers for July services and Marquette Associates, confirmed the budget for FY2025 LOSAP contributions is $1,000,000.00, and listed future meeting dates for October and December 2024.

Key discussions during the meeting included the Asset Strategy Portfolio Quarterly Update for the period ending June 30, 2020, which detailed market performance and portfolio value, and plans to potentially transition portions of the fixed income allocation to active managers in future meetings. The Plan Administrator reported on the FY2021 LOSAP funding contribution of $1M and administrative payments, including an invoice to Asset Strategy and actuarial valuation services. New business focused on informing the Board that the Emergency Services Board is considering alternative methods for volunteers to earn LOSAP points for 2020 due to COVID-19 related participation limitations. Old business involved accepting the actuarial valuation report from Bolton Partners as of June 30, 2020, noting a slight increase in liability and a doubling of the funding status due to recent funding increases. Additionally, an update on the Consolidated Investment Manager Request for Proposal (RFP) process indicated that finalist presentations were scheduled for October 2, 2020.

The meeting included authorization for the Commissioner President to sign a check register for specified bills. Proclamations were presented to the Nursing Center staff in recognition of several national weeks. A key discussion involved a proposed text amendment to the existing Right to Farm Provision in the Comprehensive Zoning Ordinance, concerning amendments to definitions such as Agricultural Activity and Agricultural Operation, which the Board authorized staff to proceed with through the amendment process. The Board received presentations from St. Mary's County Public Schools regarding the annual Bridge to Excellence Report for 2004-2005, prompting follow-up requests concerning teacher turnover, academic performance gaps, and parental involvement. Various administrative actions were taken, including approving Public Works Agreement Addendums for subdivisions, authorizing claim letters for grading permits, and approving budget amendments related to school bus contractor fuel costs and purchasing bibles for the Detention Center. Reorganization plans for the Public Safety and Land Use and Growth Management Departments were tabled pending the appointment of a new Human Resources Director. Approvals were granted for grant applications and budget agreements concerning the Older Americans Act Title III. Changes were directed to the draft Human Resources Manual. A public hearing was held regarding establishing a public utility easement for the St. Andrews Landfill, which was left open for written comment. A resolution to establish a Domestic Violence Task Force was adopted, and subsequently amended to allow the Task Force to appoint its own chairperson. The session concluded with a Budget Work Session.

Key discussions included a right-of-way offer for a road improvement project slated for the 1960 program, and the appointment and swearing-in of new deputies. The Commissioners addressed concerns regarding school bus routes for children from the Finey Pt Shores area, agreeing to a temporary arrangement. A report indicated that a bridge at Horse Head Road used by buses is in dangerous condition. The Board of Education representatives inquired about maintaining current teacher salaries if state funding increases are not realized, and requested separate payment allocations for salary allotments, increments, and incentives. The Clerk was instructed to contact an individual regarding an appointment to the Welfare Board. The Planning & Zoning Commission suggested a replacement for the former chairman, but no action was taken. The Sheriff's requests for supplies, including filing cabinets and evidence shelves, were discussed, and the transfer of a radio unit to a new deputy's vehicle was approved. Communication was authorized regarding road construction funding at Scotch Neck's and the conditionality of land donation by a resident. It was reported that a new administrative assistant started employment. Furthermore, the architect provided updates on leaks in the ceiling of the Record Room and a window in the Clerk to Circuit Court office.