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LilyWhite,SMIDresearcherdiscussedthesearchforaSMIDmanager.InOctoberMeketa <br />issuedanRFPforSMIDcapcoremanagerswiththreeadditionalrestrictions:respondersmust <br />havebeeninoperationforatleastfiveyears,thefiveyearortenyearannualizedexcessreturn <br />groupmedianandthestrategymustbeofferedasamutualfundor <br />mustbeabovethepeer <br />commingledfund.Ofthe13responders,twomanagersdidnotmeettheminimumcriteria, <br />fourwereratedhighlyadvantageous,fourwereadvantageousandthreewerenot <br />advantageous.Afterdiscussingthemanagers,BobsuggestedtheBoardpicktwotointerview <br />andBostonCompanyandKayneAndersonRudnick(KAR)werechosen.Alanwouldliketo <br />conferwithFredonthesechoices.Meketawillcontactbothtoseeiftheyareavailableto <br />attendtheJanuarymeeting. <br />RichardJacobsonfromGolubCapitalwaspresentandgavetheBoardanupdateonthe <br />rd <br />performanceoftheGolubCapitalPartners9LƓƷ͸ƌfund.The3quarterreturnsareup2.7% <br />2.8%range.TheYTDrangereturnsarerightaround11%.Golubremainscommittedin <br />Healthcareinvestingat18%ofportfoliovalue,whiletheirstanceincommoditiesremainslow. <br />TheannualRhumbLinemeetingissetforJanuary26,2017. <br />NotificationwasreceivedfromDALAofanappealbyPERACandJoeh͸\[ĻğƩǤonthevacation <br />payoutissue. <br />Amotionwasmade,secondedandapprovedunanimouslytoadjournthemeetingat10:25AM. <br />ThenextmeetingwillbeheldonJanuary26,2017at8:00AMatCaryMemorialLibrary. <br />_______________________________________________________________ <br />ChairmanAlanFields,AppointedMember <br />RobertCunha, <br />Absent <br />RobertAddelson,ExOfficioMemberJosephFoley,ElectedMember <br />Absent <br />FrederickWeiss,AppointedMember <br />