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VLCT Employment Resource and Benefits (VERB) Trust, Inc.
Board of Directors Special Meeting
January 24, 2019
via Conference Call

Minutes

Directors present: Bill Shepeluk, Todd Provencher, Todd Odit, Carrie Johnson, Charles Safford, Chris Hoyt, Joel Cope and Kathleen Ramsay

VLCT staff present: Maura Carroll, Joe Damiata, Jeremiah Breer and Kelley Avery

The meeting was called to order at 10:04 a.m.

A board quorum was confirmed.

Upon motion (Safford/Ramsay), duly adopted, the board voted unanimously to approve the meeting agenda. 

Upon motion (Safford/Ramsay), duly adopted, the board voted unanimously to approve the minutes of the December 13, 2018 meeting. 

Jeremiah Breer summarized his January 7, 2019 memo, which was included in the board packets. The Joint Audit Review Committee sent requests out to 13 firms and received three responses back from McSoley McCoy, BerryDunn and Johnson Lambert (the incumbent), all of which were interviewed. Of these three, the committee agreed Johnson Lambert was the best firm for VLCT’s needs despite its slightly higher costs compared to McSoley McCoy. Johnson Lambert’s cost and time estimates seemed most accurate compared to the other firms, and their experience dealing with municipal pools was far superior.

President Shepeluk and Todd Provencher served on the committee and both agreed with Mr. Breer’s assessment, noting Johnson Lambert also seemed the best prepared of all three candidates. The committee’s decision was unanimous to continue with Johnson Lambert for auditing services.

Upon motion (Safford/Ramsay), duly adopted, the board voted unanimously to accept the findings of the Joint Audit Review Committee and to approve Johnson & Lambert as the VERB Trust auditor (contingent upon approval from both VLCT and PACIF boards).

Mr. Breer noted the VLCT Board had already approved Johnson Lambert at their meeting last week, and the PACIF Board will be making its decision at their meeting tomorrow.

In other business, Mr. Damiata updated the board on the Captive Discovery meeting hosted by Hickok & Boardman HR Intelligence which took place at VLCT on January 10. A follow-up meeting has been scheduled for February 21. Mr. Damiata also reminded the board to let him or Adam Davis know if they are interested in any conferences or educational opportunities for 2019.

Upon motion (Safford/Cope), duly adopted, the board voted unanimously to adjourn the meeting (10:18 a.m.).  

Respectfully submitted,
Kelley Avery
Assistant Secretary

Board or Committee: 
VERB Board of Directors

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