835107.1 Students First: Every Day, Every School, Every Classroom

OXNARD UNION HIGH SCHOOL DISTRICT

RETIREE HEALTH BENEFITS TRUST

Board MEETING minutes

September 20, 2013 - 2:00 P.M. OXNARD UNION HIGH SCHOOL DISTRICT

BOARD ROOM 220 South “K” Street, Oxnard, California 93030

The Benefit Trust was established as a cooperative organization between The Oxnard Federation of Teachers and School Employees (OFTSE) and the Oxnard Union

High School District (OUHSD). The mission of the Trust shall be to financially ensure, through investment of Trust funds and the cooperative efforts of the OFTSE

and OUHSD, a comprehensive health and benefits program for every eligible retiree of the OUHSD at the most efficient cost achievable through unity of design,

purchase and administration.

In accordance with requirements of the Americans with Disabilities Act and related federal regulations, individuals who require special accommodation, including

but not limited to an American Sign Language interpreter, accessible seating or documentation in accessible formats, should contact the Superintendent’s office at

least two days before the meeting date.

i. official opening of meeting

The regular Board meeting of the Oxnard Union High School District Retiree Health Benefits Trust was called to order by Board Chair Henry at 2:02 PM on September 20, 2013 in the Oxnard Union High School District Board Room at 220 South K Street, Oxnard, California 93030.

Trustees present: Rob Evans, Jan Henry, Bill Dabbs, Steve Dickinson, Joe Carroll and Eric Ortega (arrived at 2:05pm)

Trustees absent: None

Legal Counsel present: Anthony Trembley

ii. pledge of allegiance

Trustee Evans led the Pledge of Allegiance

iii. adoption of agenda

Upon motion of Trustee Evans, seconded by Trustee Dabbs, the Board on a 5-0 vote approved the agenda, with the amendment of deferring Action Items #2 and #4 .

IV. approval of minutes: MAY 10, 2013

Upon motion of Trustee Evans, seconded by Trustee Dickinson, the Board on a 6-0 vote approved The Minutes of the May 10, 2013 meeting.

v. audience to address board of trustees: None

Those persons wishing to address the Board may do so at this time. Individual presentations are limited to three (3) minutes each, or in the case of a

group of people speaking on a specific item, ten (10) minutes will be permitted.

vi. ACTION ITEMS

1. Resolution Approving Procedures for Expenditure and Transfer of Funds and Assets from Trust

Accounts at City National Bank

Upon motion by Trustee Dabbs, seconded by Trustee Ortega, the Board on a 6-0 vote approved the Resolution as presented.

2. Trust Investment Allocation – Deferred

835107.1 Students First: Every Day, Every School, Every Classroom

3. Trust Fixed Income Portfolio—Potential Acquisition of Additional Fixed Income Assets Within Existing Trust Investment Allocation

Upon motion by Trustee Ortega, seconded by Trustee Evans, the Board on a 6-0 voted to table this action.

4. City National Bank Checking Account—Signature Card, Agreement – Deferred

5. Consideration of Approval Of Current Invoice(s):

a. Upon motion by Trustee Ortega, seconded by Trustee Evans, the Board on a 6-0 vote approved payment to Vance Thrift & Biller – 5/10/13 Invoice No. 48315 for $675 and 7/5/13 Invoice No. 48791 for $875

b. Upon motion by Trustee Ortega, seconded by Trustee Carroll, the Board on a 6-0 vote approved payment to Musick Peeler & Garrett LLP – 8/14/13 Invoice No. 256420 (Includes 255224, 253971 and 252994) for $3,504.80

c. Upon motion by Trustee Ortega, seconded by Trustee Evans, the Board on a 6-0 vote approved payment to Canterbury Consulting – 7/5/13 Invoice No. 18949 for $11,791

d. Keenan & Associates – 5/22/13 Invoice No. 149368 for $7,904.97 – Deferred e. Upon motion by Trustee Evans, seconded by Trustee Dabbs, the Board on a 6-0 vote approved payment to Bill

Walthall/WebmasterAtLarge – 8/22/13 Reimbursement for InMotion Hosting for $21.98

6. Trust Requests for Retiree Lists, Information, Etc.

Upon motion by Trustee Carroll, seconded by Trustee Ortega, the Board on a 3-3 vote did not approve having the Board make a request to the OUHSD for this information. [Ayes – Trustees Carroll, Dabbs and Ortega; Nays-Trustees Dickinson, Evans, Henry.]

7. Setting of Future Board Meeting Dates/Time(s)

Upon motion by Trustee Dickinson, seconded by Trustee Dabbs, the Board on a 6-0 vote approved the following future Board meeting dates/times of: Friday, December 6, 2013 at 2:00pm and Friday, February 7, 2014 at 2:00pm.

8. Contents of Trust Website – Items to be placed on website

Upon motion by Trustee Dickinson, seconded by Trustee Evans, the Board on a 6-0 vote approved that the following items be posted on the Trust website as soon as is reasonably possible: Trust Agreement, Investment Policy, FAQ, Meeting Agendas, and Meeting Minutes.

9. Storage of Trust Records – Administration and Retention

Upon motion by Trustee Dabbs, seconded by Trustee Ortega, the Board on a 6-0 vote approved having all Trust records retained indefinitely and labeled “Do Not Destroy.”

10. Request For Release of RDS Medicare D Reimbursement Funds To Trust

Upon motion by Trustee Evans, seconded by Trustee Carroll, the Board on a 6-0 vote approved the release of a $79,049.68 RDS Medicare Part D Reimbursement to the Trust and authorized the Chair and Co-Chair to sign the letter to complete this transaction with the OUHSD.

VII. INFORMATION ITEMS

1. New Retiree Health Insurance Plan Effective 10/1/13 – Trustee Dickinson reported on the implementation process of the new plan. The Board discussed this item.

2. Actuarial Information – The Board reviewed the 2011 report and discussed the upcoming 2013 report.

835107.1 Students First: Every Day, Every School, Every Classroom

3. Utilization of Trust Funds – The Board discussed this item as set forth. 4. Trust Administrative Matters – Trustee Dickinson reported that he, and the OUHSD Business Office, will

continue to provide administrative services for the Trust.

5. Review of Revised 2013-14 Trust Budget – The Board reviewed and discuss this item as set forth. The 2013-14 budget is $104,742.

6. Canterbury Consulting Investment Performance Review—Second Quarter 2013 and through August 31, 2013 – Representatives from Canterbury Consulting reviewed this information with the Board.

7. Trust Audit Services – Trustee Dickinson will seek quotes for this service.

8. Trust Website Use – This item was deleted, as it was covered earlier in the Agenda.

9. Trust Board Member Resignation – Trustee Deardorff has resigned.

10. Recognition of Newly – Appointed Trustee – The OFTSE has appointed Trustee Joe Carroll to the vacant

position.

11. Trust Financial Statement—March 31, 2013 – The Board reviewed this item as set forth.

12. Medicare D Reimbursements – This item was deleted, as it was covered earlier in the Agenda.

13. CSEBO Medical, Dental and/or Vision Income & Expense Reports – The Board reviewed this item as set forth.

14. City National Bank Checking Account Statements – The Board reviewed this item as set forth.

15. City National Bank Investment Statements through 8/31/13 – The Board reviewed this item as set forth.

16. Recent Check Authorization Forms – The Board reviewed this item as set forth.

17. Canterbury Notice (ADV Part II) – The Board reviewed this item, which was received in May 2013.

18. TWIW: Insurance Policies/Binder Information; Annual Costs Spreadsheets – The Board reviewed

this item as set forth. Trustee Carroll requested a copy of these reports.

19. Revised Investment Policies – Adopted 12/7/12 – The Board reviewed this item as set forth.

20. Additional Correspondence – None.

21. Open Comments From Trustees

VIII. items for future consideration on agenda

1. Minutes of the September 20, 2013 Board Meeting 2. Investment Changes 3. Checking Account Review 4. Audit Services Quotes 5. Canterbury Report

6. Invoices To Be Paid

IX. future meetings: Friday, December 6, 2013—2:00 PM.

835107.1 Students First: Every Day, Every School, Every Classroom

X. adjournment

Upon motion by Trustee Dabbs, seconded by Trustee Carroll, the Board adjourned the meeting at 3:56 PM.