Today is Wednesday, May twentieth at one thirty PM, and this is the date and time set for the public meeting of the other post-employment benefits trust fund, also known as OPEB.

Zach, good afternoon.

I could you please provide us with a roll call of the OPEB members.

Chair Razor.

Present.

We have a quorum.

Thank you.

And we also welcome former city manager Nancy Paulson to the OPEP Trust Committee.

Welcome.

Thank you so much.

At this time, the public is invited to comment on and discuss any topic that is relevant to or within the authority of this public body.

Seeing and hearing no comments from the public, I will move forward and close public comment at this time.

We'll move to our next agenda item, which is agenda item four A, which is the approval of the minutes from our last meeting on Wednesday, February twenty-fifth, two thousand twenty-six.

And Vice Chair Ganger and Trustee Paulson, have you had a chance to review the minutes?

Yes.

And I do have one change.

Moving forward to agenda item five A, which is a discussion and possible action regarding the OPEP trust earnings report for the third quarter of fiscal year two thousand twenty-six.

That gives us a total earnings for the year of 282.049.26.

That is a 5.2% return on investment.

Last year we were only at three point nine return on investment.

So even though we had a bad month, we're still ahead of last year.

And hopefully that'll turn around.

It's very volatile right now.

So yeah.

Is there any questions?

That's all I had.

Any committee members have any questions?

No questions.

All right.

Would anybody like to make a motion for this agenda item?

I move to approve the OPEB trust earnings report as presented.

I'll second.

All in favor, please say aye.

Aye.

Aye.

Motion carries unanimously.

Moving on to agenda item 5B, which is the discussion and possible action regarding the OPEB trust activity for the third quarter of fiscal year 2026.

Again, CFO Sherry Russell Benaboo.

Thank you very much.

So this is the monthly revenues and expenses.

And in a perfect world where no retirees passed away and nobody ever retired, it would be zero.

The monthly PL, the yellow highlight, the bottom, that would be zero.

However, people are coming off and on the plan all the time.

So you'll see pluses and minuses.

And there are no city contributions recorded as of yet.

We will make those in the fourth quarter.

And we're looking at about one percent of payroll, which is what the board approved is about 625,000 this year.

And we'll do that like I said in June, right before the year ends.

There is over here a little balance sheet, and you can see the income, the investment income from the report we just talked about in the last item.

And then cash is 5,464 865.07, and there's a one little adjusting entry.

So the total net position of the OPEB trust right now is 5,466, 155.89.

And if there's any questions, I'm happy to members have any questions.

We would have a question, but I'm not sure if you'll know the answer.

How much uh the cities actually put into the fund over all the years versus you know now it's at 5,400,000.

I will get that answer for you.

I do not know how much interest earnings versus uh principal.

I can get that I can get that number for you.

Just curious.

I will email everybody.

I have no questions.

And I will make a move to approve the OPEB trust activity as presented.

I second.

All in favor, please say aye.

Aye.

Motion carries unanimously.

Moving to agenda item 5C, which is discussion only for the date for the next meeting of the Carson City OPEB Trust Fund Board of Trustees, and to keep with our regular three-month schedule of meetings in February, May, August, and November.

We can look uh take a look at dates in August 2026 for our next meeting.

And right now I see dates for Wednesday, August 12th, Wednesday, August 19th, and Wednesday, August 26th.

I am free all those days.

I would ask for the 19th or the 26th just to give time for the reporting because I don't get the final statement in June until the very end of July.

That works for me.

August 26th.

Let's let's go for Wednesday, August 26, 2026 at 130 p.m.

You got it.

And moving forward to our final public comment.

The public's invited at this time to comment on any matter that is not specifically included on the agenda and agenda as an action item.

Please note that no action may be taken on a matter raised under this item of the agenda unless the item has been specifically included on the agenda as an item upon which action may be taken.

Seeing and hearing no comments from the public, I will close public comment at this time.

I will adjourn today's meeting.

Meeting adjourned.