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Board of Finance receives Q1 investment reports and approves rebalances for OPEB, volunteer fire and resiliency funds
Summary
Focus Partners presented March 31, 2026 quarter results for Branford’s Police Pension, OPEB, Volunteer Fire Incentive and Coastal Resiliency funds. The board approved rebalancing the OPEB, Volunteer Fire and Coastal Resiliency funds; no rebalance was recommended for the Police Pension.
The Branford Board of Finance on May 18 received quarterly investment reports from Focus Partners and authorized rebalancing for three town funds while leaving the Police Pension portfolio intact.
Michael Lepore of Focus Partners presented the quarter ended March 31, 2026 results for four town funds. He reported the Police Pension Plan (inception 4/1/2003) had a market value of $39,872,255 as of March 31, 2026, reflecting net cash flow of $4,267,312 and net investment gains of $27,293,651; Focus Partners recommended no rebalancing for that plan at this time.
Lepore reported the Other Post‑Employment Benefits (OPEB) Trust (inception 7/1/2011) had a market value of $42,348,338 as of March 31, 2026, after net cash flow of $22,156,339 and net investment change of $16,161,328. Board member Yvette Larrieu moved to rebalance the OPEB fund as presented; Deborah Conklin seconded the motion, which passed unanimously.
The Volunteer Fire Incentive Plan (inception 12/1/2015) was reported at a market value of $2,040,708, with net cash flow of $1,082,714 and net investment change of $902,022. Harry DiAdamo moved to rebalance that fund per Focus Partners’ recommendation; Alfred Bertoline seconded and the motion carried unanimously.
The Coastal Resiliency Fund (inception 10/1/2021) showed a market value of $4,316,068 as of March 31, 2026, after net cash flow of $1,793,479 and net investment change of $597,589. Deborah Conklin moved to rebalance the Coastal Resiliency Fund as presented; Yvette Larrieu seconded and the motion passed unanimously.
Each rebalance motion carried on unanimous votes of the board members present. No specific asset‑allocation details beyond the presented performance figures were recorded in the minutes.
The board’s review was part of a remotely held meeting available to the public via BCTV. The board moved on after the investment items to consider a Power Purchase Agreement and municipal budget matters.
