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Henry noted that LRS has little exposure to small and mid-cap and proposed moving 15 – 20% from domestic equity to small or mid-cap. Hartford at $15m is 11% of the portfolio. The Board could move 5% to small/mid-cap and additional over time. A proposal was made to invest an additional $5m with PRIT RE Fund and to lower equity by 5%. Alan proposed eliminating Hartford and reinvest the funds but it was decided to not eliminate the fund immediately but to transfer $5m in monthly $1m increments to the PRIT RE Fund. Overtime the balance of Hartford will be transferred to small or mid-cap. Steve discussed a Meketa Index fund that some clients are using. Steve will bring information about the fund to the next meeting. A proposal was made to have Meketa start a search for small/mid-cap investments and to look for an alternative for FMI. As of June 2016, approximately 4.2% of the total system in invested in fossil fuel companies. Within the exposure, approximately 1.6% of the total System is invested in the Carbon Underground 200 Companies. Meketa’s analysis included equity managers Hartford, Fiduciary, Fidelity, Rhumbline, Matthews, Acadian and Wellington; fixed income manager, Loomis Sayles and opportunistic manager, Wellington. The following manager meetings have been set: Matthews, Monroe and White Oak for Oct. 20 and Golub for Nov. 29. The Board was reminded of the educational requirements. Compensation study in progress for Maggie’s review. A motion was made, seconded and approved unanimously to adjourn the meeting at 9:35. The next meeting will be held October 20, 2016, 8:00 AM at Cary Memorial Library. Robert Cunha, Chairman Alan Fields, Appointed Member Absent Robert Addelson, Ex Officio Member Joseph Foley, Elected Member Frederick Weiss, Appointed Member