Houston Firefighters Relief and Retirement Fund Budget and Audit Committee met May 16

Houston Firefighters Relief and Retirement Fund Budget and Audit Committee met May 16.

Here are the minutes provided by the committee:

A meeting of the Budget and Audit Committee of the Houston Firefighters’ Relief and Retirement Fund convened at the Fund offices at 4225 Interwood North Parkway on Tuesday, May 16, 2023 at 9:23 a.m.

Committee members present were Brett R. Besselman, Arif Rasheed, Gerard L. Daniels, and alternate member Pete Ng. Members absent were Stephen R. Whitehead (Committee Chair) and Lisa R. Slagle. Others present were Trustees David O. Lantrip, Albertino Mays, and Earnest W. Wotring, and staff members Timothy Schauer (Executive Director), Ajit Singh (Chief Investment Officer), Claudia McInnis (Director of Finance and Administration), Andrea Sharayha (Director of Human Resources), Dalia “Dolly” De La Cruz (Director of Member Services), John D. Moore II (Director of Technology and Building Services), and Adam Smith (General Counsel).

On behalf of the Committee Chair, Brett Besselman called the meeting to order at 9:23 a.m. and invited comments from the public. No comments were received.

The General Counsel, in accordance with Fund policies, presented the report on Code of Ethics affidavits for calendar year 2022 for Fund Trustees, staff, and investment managers noting everyone in compliance.

The Director of Finance and Administration reviewed the third quarter fiscal year 2023 expenses, highlighting expenses that were under budget or moved to Fiscal Year 2024.

Earnest W. Wotring entered the meeting room at 9:36 a.m.

The Executive Director reviewed the Fiscal Year 2024 proposed budget which includes the Administrative, Capital Expenditures, and Conference Center budgets.

After some discussion, there was a motion by Pete Ng, seconded by Gerard L. Daniels, to recommend to the full Board to accept the Fiscal Year 2024 proposed budget, as presented. The motion carried.

There being no further business, the meeting adjourned at 10:12 a.m. on a motion by Gerard L. Daniels, seconded by Arif Rasheed. The motion carried.

https://www.hfrrf.org/_files/ugd/576db6_148c2df680d24d7194ec1bad025b0721.pdf