Punta Gorda pension board renews fiduciary‑liability policy, staff to seek competitive quotes; disclosures and billing cadence reviewed

PUNTA GORDA, Fla. — The Punta Gorda Firefighters’ Pension Board renewed a three‑year fiduciary‑liability insurance policy and asked staff to check the market for other quotes; trustees also received administrative reminders about financial-disclosure filings and invoice procedures.

Plan staff presented the annual premium for a three‑year policy that would hold steady for the term. The administrator, Chrissy (Plan administrator / staff member), said comparable plans of similar asset size pay a range of premiums and that the board’s $3,250.18 annual cost was within a normal range. Trustees moved to bind the policy for three years; the motion was seconded and carried unanimously. Chrissy said she will contact carriers to confirm whether a lower premium is available and report back.

Chrissy also reminded trustees about annual financial-disclosure filings; she said one trustee, Garrett, had not yet filed and that the deadline to file is July 1 (with fines beginning September 1). Trustees asked for the electronic filing link to be resent to any trustee who needs it.

The board discussed billing and invoices for the board’s retained counsel. Counsel’s services are covered by a $500 monthly retainer; trustees asked that counsel’s invoices be included in the monthly warrant/consent package and ratified at board meetings, which the administrator said is the current practice.

The administrator also noted available education opportunities and asked trustees to indicate interest for upcoming conferences; no motions were made on education at the meeting.