Monthly Board Report

June 2018 Monthly Board Report

CLEAN FINANCIAL AUDIT OPINION EXPECTED BY JUNE 30

An independent audit firm is completing its review of OP&F’s statements and is expected to confirm that they accurately represent the financial positions of the system for the fiscal year ending on Dec. 31, 2017. The opinion also will confirm that OP&F’s financial reports are in accordance with generally accepted accounting principles. The independent audit opinion from RSM will be included in OP&F’s Comprehensive Annual Financial Report, which is available online at op-f.org.

BOARD REPORT TO BE EMAIL NEWSLETTER IN 2018

OP&F expects to transition to an email-only delivery of the Board Report newsletter in August 2018. To continue to receive the Board Report, forward your email address to: dgraham@op-f.org.

PORTFOLIO UPDATE
OP&F's investment portfolio value:

  Current value (6/19/18): $15.7 billion
  End of May value: $15.8 billion
  End of April value: $15.6 billion

Board of Trustees Committee Notes
(Motions voted on by the Board are listed separately)

  • DISABILITY: In addition to the regularly scheduled hearings and appeals, the Committee discussed the 2018-19 Disability Committee schedule.
  • BENEFITS: The Benefits Committee reviewed the 2018-19 Benefits Committee Schedule.
  • PERSONNEL: In addition to OP&F personnel matters, the Committee discussed the Board’s self-evaluation document and the process for tabulating and reviewing results.
  • ADMINISTRATION/AUDIT: The Committee was introduced to OP&F’s new Business and Technology Solutions Director, Brian O’Brien and Systems and Network Manager Kevin McCann. The Committee also heard updates on Internal Audit activities for the period ending March 30, 2018.
  • HEALTH CARE: The Committee reviewed its schedule for 2018-19 and discussed the 2019 health care transition.
  • INVESTMENT: In addition to the monthly portfolio performance update, the Board reviewed the 2018-19 Investment Committee Schedule and the Private Markets Report as of March 31, 2018.

    Motions:
    At its June 2018 meeting, the OP&F Board of Trustees approved the following motions:
  • Approved Townsend’s recommendation to adopt the 2018 Real Estate Investment Plan Mid-Year Update. Motion passed by unanimous vote (Investment Committee).
  • Approved Townsend’s recommendation to make no changes to the 2018 Strategic Real Estate portfolio. Motion passed by unanimous vote (Investment Committee).
  • Approved Townsend’s recommendation to adopt the 2018 Real Assets Investment Plan Mid-Year Update. Motion passed by unanimous vote (Investment Committee).
  • Approved staff’s and TorreyCove’s recommendation to commit up to $30 million to Vista Equity Partners VII, LP. Motion passed by unanimous vote (Investment Committee).
  • Approved staff’s and Wilshire’s recommendation to adopt the Private Credit Investment Policy. Motion passed by unanimous vote (Investment Committee).
  • Approved staff’s and Wilshire’s recommendation to adopt the Private Credit Investment Plan. Motion passed by unanimous vote (Investment Committee).
  • Approved staff’s request for discretion regarding any changes to the PIMCO Solution structure provided the Solution consist of only PIMCO managed funds. Motion passed by unanimous vote (Investment Committee).
  • Approved staff’s and Wilshire’s recommended Investment Manager Guidelines for Harding Loevner. Motion passed by unanimous vote (Investment Committee).
  • Approved the Committee recommendations for the initial determination of disability for the members as identified in the initial determination hearings list presented to the Board on June 20, 2018. Motion passed by unanimous vote (Disability Committee).
  • Approved the Committee recommendations for appeal hearings for the members identified in the appeals list presented to the Board on June 20, 2018. (Disability Committee).
  • Waived the mandatory medical evaluation and filing of annual earnings statements for future years for the members identified in the disability reporting waivers list presented to the Board on June 20, 2018. Motion passed by unanimous vote (Disability Committee).
  • Approved the Committee recommendation for Death Fund benefits for the members identified. Motion passed by unanimous vote (Disability Committee).
  • Approved the 2017 Health Care Report for the Ohio Retirement Study Council. Motion passed by unanimous vote (Health Care Committee).
  • Approved the Administrative Rules outlined in staff’s memorandum dated June 19, 2018, and authorizes the required filing of the rules with the proper agencies. Motion passed by unanimous vote (Benefit Committee).
  • Adopted the Board Governance Manual effective June 20, 2018. Motion passed by unanimous vote (Administration/Audit Committee).

    NEXT BOARD OF TRUSTEES MEETINGS AUG. 21-22, 2018

    Posted 6/27/2018

Previous Reports

Monthly Report for December 2019
- Posted December 23, 2019
Monthly Report for October 2019
- Posted October 30, 2019
Monthly Report for September 2019
- Posted October 04, 2019
Monthly Report for August 2019
- Posted September 27, 2019
Monthly Report for June 2019
- Posted July 17, 2019
Monthly Report for May 2019
- Posted June 07, 2019
Monthly Report for April 2019
- Posted May 08, 2019
Monthly Report for March 2019
- Posted March 28, 2019
Monthly Report for February 2019
- Posted March 08, 2019
Monthly Report for January 2019
- Posted February 01, 2019
Monthly Report for December 2018
- Posted December 27, 2018
Monthly Report for November 2018
- Posted November 21, 2018
Monthly Report for October 2018
- Posted November 01, 2018
Monthly Report for September 2018
- Posted October 03, 2018
Monthly Report for August 2018
- Posted August 29, 2018
Monthly Report for June 2018
- Posted June 27, 2018
Monthly Report for May 2018
- Posted May 31, 2018
Monthly Report for April 2018
- Posted May 02, 2018
Monthly Report for March 2018
- Posted April 04, 2018
Monthly Report for February/March 2018
- Posted March 07, 2018
Monthly Report for January 2018
- Posted January 30, 2018
Monthly Report for December 2017
- Posted December 19, 2017
Monthly Report for November 2017
- Posted November 29, 2017
Monthly Report for October 2017
- Posted November 01, 2017
Monthly Report for September 2017
- Posted October 03, 2017
Monthly Report for August 2017
- Posted September 14, 2017
Monthly Report for June 2017
- Posted July 11, 2017
Monthly Report for May 2017
- Posted May 23, 2017
Monthly Report for March 2017
- Posted April 07, 2017
Monthly Report for February 2017
- Posted March 08, 2017
Monthly Report for January 2017
- Posted February 01, 2017
Monthly Report for December 2016
- Posted December 20, 2016
Monthly Report for November 2016
- Posted November 21, 2016
Monthly Report for October 2016
- Posted October 28, 2016
Monthly Report for September 2016
- Posted October 05, 2016
Monthly Report for August 2016
- Posted September 07, 2016
Monthly Report for June 2016
- Posted July 06, 2016
Monthly Report for May 2016
- Posted May 25, 2016
Monthly Report for April 2016
- Posted May 04, 2016
Monthly Report for March 2016
- Posted April 08, 2016
Monthly Report for February 2016
- Posted March 02, 2016
Monthly Report for January 2016
- Posted January 27, 2016
Monthly Report for December 2015
- Posted December 22, 2015
Monthly Report for November 2015
- Posted November 22, 2015
Monthly Report for October 2015
- Posted October 27, 2015
MONTHLY REPORT for September 2015
- Posted October 06, 2015
MONTHLY REPORT for August 2015
- Posted September 01, 2015
MONTHLY REPORT for June 2015
- Posted June 30, 2015
MONTHLY REPORT for May 2015
- Posted May 28, 2015
MONTHLY REPORT for January 2015
- Posted February 04, 2015
MONTHLY REPORT for April 2015
- Posted May 07, 2015
MONTHLY REPORT for March 2015
- Posted April 01, 2015
MONTHLY REPORT for February 2015
- Posted March 03, 2015
MONTHLY REPORT for November 2014
- Posted November 25, 2014
MONTHLY REPORT for October 2014
- Posted November 05, 2014
MONTHLY REPORT for September 2014
- Posted September 23, 2014
MONTHLY REPORT for August 2014
- Posted September 02, 2014
MONTHLY REPORT for June 2014
- Posted July 02, 2014
MONTHLY REPORT for May 2014
- Posted May 28, 2014
MONTHLY REPORT for April 2014
- Posted May 09, 2014
MONTHLY REPORT for March 2014
- Posted April 04, 2014
MONTHLY REPORT for February 2014
- Posted March 05, 2014
MONTHLY REPORT for December 2013
- Posted December 30, 2013
MONTHLY REPORT for November 2013
- Posted December 02, 2013
MONTHLY REPORT for September 2013
- Posted October 02, 2013
MONTHLY REPORT for August 2013
- Posted September 04, 2013
MONTHLY REPORT for April 2013
- Posted May 01, 2013
MONTHLY REPORT for May 2013
- Posted June 10, 2013
MONTHLY REPORT for March 2013
- Posted April 03, 2013
MONTHLY REPORT for February 2013
- Posted March 07, 2013
MONTHLY REPORT for January 2013
- Posted February 06, 2013
MONTHLY REPORT for December 2012
- Posted December 18, 2012
MONTHLY REPORT for November 2012
- Posted November 21, 2012
MONTHLY REPORT for October 2012
- Posted November 05, 2012
MONTHLY REPORT for September 2012
- Posted October 05, 2012
MONTHLY REPORT for July 2012
- Posted August 01, 2012
MONTHLY REPORT for June 2012
- Posted July 03, 2012
MONTHLY REPORT for May 2012
- Posted June 06, 2012
MONTHLY REPORT for April 2012
- Posted May 01, 2012
MONTHLY REPORT for March 2012
- Posted April 04, 2012
MONTHLY REPORT for February 2012
- Posted February 29, 2012
MONTHLY REPORT for January 2012
- Posted February 01, 2012
MONTHLY REPORT for December 2011
- Posted December 20, 2011
MONTHLY REPORT for September 2011
- Posted December 15, 2011
MONTHLY REPORT forOctober 2011
- Posted December 16, 2011
MONTHLY REPORT for November 2011
- Posted December 19, 2011
MONTHLY REPORT for July 2011
- Posted July 01, 2011
MONTHLY REPORT for June 2011
- Posted June 01, 2011
MONTHLY REPORT for May 2011
- Posted May 01, 2011
MONTHLY REPORT for April 2011
- Posted April 01, 2011
MONTHLY REPORT for March 2011
- Posted March 01, 2011
MONTHLY REPORT for February 2011
- Posted February 01, 2011
MONTHLY REPORT for January 2011
- Posted January 01, 2011



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The 2019 Board Trustee elections have concluded. Please check the Board of Trustee Elections page in early 2020 for news on the next Trustees elections.

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