Oldsmar pension trustees review $12.7M fund balance, approve proposed 2026–27 budget

Staff presenter (identified in the meeting as Jeremy) reviewed the plan’s administrative budget and the fund’s quarterly investment performance and presented a proposed budget for fiscal year 2026–27.

"We started the quarter with just over 12,900,000...ending balance was $12,724,958.91," the staff presenter said while walking trustees through contributions, distributions and expenses for the quarter. He reported the fund was down 1.68% for the quarter and roughly down 0.5% fiscal year to date, attributing volatility to international conflict and oil-price movements. He added that, conservatively, the next report may show about a 3% gain.

Trustee S5 questioned why the proposed budget appeared to be "more than double current year expense." Staff and trustees responded that not all invoices have been received and that some figures in the packet reflect actuals paid thus far. The staff presenter also noted a typographical error in the materials: "It says $25.26. It should say $26.27," and said the packet will be corrected.

Chair (S4) called for a motion to approve the proposed 2026–27 budget as presented; the board approved the proposal by voice vote (mover/second not explicitly recorded in the transcript).

The staff presenter offered to provide deeper analysis on request and said more detailed numbers will be available at the next meeting.